Shrinking Dollar

The dollar is not shrinking, it is growing daily, so very happy for us Aust.

Peso is on up swing state.

USD value is shrinking. Just paid the bills today. The prices of goods and services had gone up.

Swings and merry go rounds that we all live with, decisions decisions.

Cheers, Steve.

bigpearl wrote:

Swings and merry go rounds that we all live with, decisions decisions.

Cheers, Steve.

Yup thats pretty much it, some days  its up other its down, you cant really do much especially if your living there, you have to eat etc so it  is what it is.

Ride the tide and put it in the safe when the exchange rate suits. It certainly is what it is.

Cheers, Steve.

bigpearl wrote:

Swings and merry go rounds that we all live with, decisions decisions.

Cheers, Steve.

Unfortunately it is swinging the wrong way for USD. I first starting using TransferWise on Febuary 22, 2019.

The rate then was 52.24 Peso per USD (Febuary 22, 2019)
The rate today is 48.65 Peso per USD     (August 20, 2020) 

A 7% decline, If the US Treasury  prints more money for the next stimulus it will decline further.
Now on the last tax cut, they were crying it was for the rich only. So the rich lost 7% too, relatively speaking the middle class has lost nothing, 7% of nothing is nothing.

It's not actually true, but you may get my point. Rising prices are caused by the inflation. So all the debt owed by the Federal Government gets paid back with inflated dollars, China is owed 1.1 Trillion Dollars that they hold in Treasury notes.

Just think if the US defaulted on purpose on these notes owed to China.

same here, Peso on the rise

still beats ATM which I get hit with 250P per 10K transaction + a charge from my bank
(about $2 USD)

would be nice if they didn't have that 10K limit per transaction on local ATM.

I just try to offset it by balancing better and doing 1 wire transfer per month to my missus account, she then withdraws everything I need at no charge and the rest goes to bills.

All Good 

I have always budgeted on 33php to the AUD, it is now running at nearly 35php for one AUD.  But not all at once, wait to see if the AUD goes higher 

As Bigearl says swings and merry go rounds.

When we moved to the RP, the exchange rate was about 40 Pesos to 1 US dollar.  We built a house and lived comfortably at that rate.