Close

Peso falls to seven year low on Duterte concerns.

A good article regarding the new president's policies and their effect on the peso value. The dollar exchange rate may help expats, but does it really?

Peso falls to seven-year low, stocks down again

http://cnnphilippines.com/business/2016 … again.html

Good for tourism, the expat advantage is if they're paid in US$.

The rate against the dollar matters so many, but the rate against a selection of others gives a better indication of the real situation.

http://www.xe.com/currencycharts/?from= … mp;view=1Y

http://www.xe.com/currencycharts/?from= … mp;view=1Y

That's interesting.

Thanks for the share, Interesting article. It reminds me that every single day financial reporters quickly ascertain the reason the markets rose or fell in the USA. It certainly gives people a feeling of control. There are usually plenty of reasons to choose from depending on the direction the market is going.... Plus it allows a reporter to express his own bias without fear of contradiction. And like the weather there will be a new reason tomorrow if you need one.

That said..... Probably a good time to stock up on a few Pesos.

sandArmando :

That said..... Probably a good time to stock up on a few Pesos.

Could be, especially as China will be very keen on trade agreements ... with a few political bits and bobs that will go China's way tossed in to sweeten any deal.

China has a habit of hunting for trade with countries that have rejected the US for whatever reason.
Not a political statement; just history.

sandArmando,

Indeed!  We simply pick the bias that matches our own in most cases. That comfortable feeling of knowing others agree with your bias......lol

Yes time to exchange a few dollars.

The downside is the buying power for Filipinos is adversely affected.

I didnt read a gleeful word in any one  of the replies. I've always tried to buy a little extra when the exchange rate is setting a new high....   I think perhaps you were Trolling.  If so, how could you exploit such things to get your jollies? If not, now you know how it feels. ;)

TeeJay4103 :

The downside is the buying power for Filipinos is adversely affected.

Agreed.
The lower value will force prices of imported goods up, but also help exporters.

I like to see the bright side.

The lower the value of the PHP naturally enough better for me, and Australian.  However the biggest risk is an increase in the inflation rate in the Philippines.  So if you are planning on moving here, and not have a pension index to inflation, consider the consequences of rising inflation in the Ph.  as this will impact how much you can buy for you $$

Forget the politics apart from the point of this thread

http://en.tempo.co/read/news/2016/10/05 … of-Breakup

Duterte Tells Obama `You Can Go to Hell,` Warns of Breakup

Ignoring the rights and wrongs, this is very likely to shake up local finances in a spectacular way, and likely to mean a rapid move to trade with BRICS nations.
Expats should be prepared for big changes.

Hello Teejay, I have learned to stay away from politics of other countries and understand i am just a guest living an enjoyable life here  in the Philippines. Being an American i can even understand President Duterte wanting all American troops out of his country so he can try and cut some deals to benefit his country from China and even Russia. But when he states on numerous occupations "I don't like America" and " I don't like Americans"  is when i take it personal. I keep myself informed about all news that affects me financially. When i see out flows of 1 billion pesos daily of international investments for what, the past 40 days now concerns me.  Ironically today i will be closing my 5th dollar denominated 6 month CD account this month. All the accounts were in reputable Phil. banks. I kept them all maxed at the legal  government protection limit of 1/2 million  peso equivalent . Maybe i am being overly cautious? I just dont want to be caught off guard if by chance i wake up some morning and told to leave the country along with the US troops. I am interested in knowing how other expats feel about the recent rhetoric. Out side of politics, i have always been treated with kindness and respect by all the Filipino people i make contact with and really enjoy my life here. Oh, nice to see the FX at 48.60 to the dollar this morning.

maybe its time to move my ssa account out of the bpi Philippines bank and back to Thailands bangkok bank...

Hello Joe, I also have my SS account  going to BPI but its a hassle to move that around. I am planning a trip to Thailand in January 2017 to see it the political environment is a bit less hostile towards Americans. Have you spent time there or lived there for awhile? I read the  military junta runs the country's affairs?

yes...I was a teacher there for ten years....also once was the Olympic Boxing coach for Thailand..So I know Thailand....I now work in India with pro boxing but my contract is up in December so I have been looking online at condos for rent in pattaya and hua hin....i found one near the beach with everything except wi-fi for $217 a month...Also the lifestyle and food is better there...I do have a small cottage near the beach in Negros...But its so boring there.....Joe

Thanks for the info. Joe. I will plot my course to Thailand in January. I am not getting that warm fuzzy feeling  towards Americans here from the new President . lol

yes...I understand....When he says "I HATE AMERICANS" thats not a good sign..maybe i will see you in Thailand....I had direct deposit for my ssa in Thailand before...The Bangkok Bank main branch has 30 some counters just for us foreigners.....Joe

While I observe Philippines politics from a distance, if for no other reason than to try and keep up with any legal changes that may affect my life here as an expat married to a Filipina, I do not comment or involve myself in any way.

The current US President loves to hear himself talk and seems to think that the entire planet should bow before his all knowing all seeing view of how the world, it's leaders and it's people should act and interact, at least in his mind.

The total number of those shot, wounded and murdered in Chicago alone to date exceeds 3380 people, which tells me that the US president needs to clean up his own backyard before pointing fingers at Philippine policy with regard to the death of drug dealers, the Paris climate change agreements and criticism of the admins wanting to build more coal fired power plants to help the country's ailing power grid. The Philippines president is no doubt tired of the UN, the EU and the US telling the Philippines how to run their country while their own countries are in turmoil and their economy's are crumbling.

Meeting with the Russian, Chinese and other leaders in SE Asia may serve to not only lessen the tension in the waters between China, the Philippines and other Asian countries, or it may not, but if it can be done in a way that is agreeable to all and establishes new trade agreements with these countries, the result may be peace and an economic boost without the political interference of western nations.

At this time in the Philippines I do not feel as though the Philippine presidents comments about the west is directed at the citizens of their respective western nations, but at their leadership or lack thereof and especially when it comes to the spouses of Filipinas who quietly contribute their incomes to the Philippines economy while keeping out of Philippine politics and Philippine jails.

I know of quite a few Expats here who keep a low profile and stay out of local politics as we have been asked to do and like myself even refrain from comments on social media news outlets such as GMA, ABS-CBN, the Inquirer and others.  They involve themselves in their families and in many cases with their communities by offering their time or monetary help through things like used clothing, vitamins, school supplies or simply helping their respective families with medical bills, education or other things that a working class family may not be able to afford in the Philippines.

The unfortunate deaths of innocents that may be related to current political policy toward drug users and dealers is the subject for another post and hopefully a private conversation as I believe it could become quite heated.  At this time those policies have not yet affected my wife and I and we do not plan on a move at this time, though we do keep an eye open for any changes that might and we do have plans in place for a move if necessary.

Until then, we will continue to enjoy our quiet life here, our family and the few friends we have made and enjoy our lives one day at a time.  Tomorrow is not a guarantee.

TeeJay

New topic

Expatriate health insurance in the Philippines

Free advice and quotation service to choose an expat health insurance in the Philippines

Moving to the Philippines

Find tips from professionals about moving to the Philippines

Travel insurance in the Philippines

Enjoy a stress-free travel across the Philippines

Flights to the Philippines

Find the best prices for your flight tickets to the Philippines