Sterling to Peso

[SimonH]

Wish I had a magic ball, my plot of land just came down by £9000 from when I agreed the price in php 2 months ago

[Michael Parnham]

65.60 at this moment in time, not too bad!

[Michael Parnham]

Wish I had a magic ball, my plot of land just came down by £9000 from when I agreed the price in php 2 months ago

Do you mean Pesos Simon?

[gWaPito]

April 2006. .. from an SM in Davao, I got nearly 100 to the pound. Things were a darn sight cheaper there as well.

[SimonH]

No, I mean sterling. Agreed a price when the exchange rate was 60/£ now at nearly 66/£ it's nearly 10% less so I save £9000

[imagine]

No, I mean sterling. Agreed a price when the exchange rate was 60/£ now at nearly 66/£ it's nearly 10% less so I save £9000

if thats sterling to peso you havent saved you lost

[SimonH]

if thats sterling to peso you havent saved you lost

As I haven't parted with any of my hard earned yet, I think when it comes time to send the cash I'll be 9k better off. 6m php was 100k now it's 91k, providing it stays at the current rate that is.

[imagine]

As I haven't parted with any of my hard earned yet, I think when it comes time to send the cash I'll be 9k better off. 6m php was 100k now it's 91k, providing it stays at the current rate that is.

ah i thought you sent at 60/£

[keith britten]

Lets hope it continues to rise and get back to where it was 18 months ago then perhaps I'll get my full pension.

[jake]

As I haven't parted with any of my hard earned yet, I think when it comes time to send the cash I'll be 9k better off. 6m php was 100k now it's 91k, providing it stays at the current rate that is.

Your average filipino is very aware of exchange rates. The price just went up 1m php

[stevewool]

Your average filipino is very aware of exchange rates. The price just went up 1m php

yep thats just my thinking too

[SimonH]

So, if the situation were reversed and the php dropped from 60 to 55/£ you're saying I would be in a position to renegotiate down to 5m?
Price agreed in php, so that's what I'll be paying. The currency I use at home is irrelevant, whether it be pounds, dollars, euros or second hand cats.

[stevewool]

you are always in a position to renegotiate, its whether the person agrees or you walk away from any deal,

[jake]

So, if the situation were reversed and the php dropped from 60 to 55/£ you're saying I would be in a position to renegotiate down to 5m?
Price agreed in php, so that's what I'll be paying. The currency I use at home is irrelevant, whether it be pounds, dollars, euros or second hand cats.

that's true you could negotiate down to 5m.
Handshake's and agreements at the end of the day mean nothing. It is a legally binding contract in your hand that counts.

In the Philippines there are certain things that can change very quickly if the peso depreciates against the dollar. Our monthly electricity bill will go up even though we pay in pesos.

[sars_notd_virus]

Sterling to peso 65.80 today
not much difference but a hundred pesos can go a long way in the PH

[fred]

Sterling to peso 65.80 today
not much difference but a hundred pesos can go a long way in the PH

It can?
How long have you been over there??

[tone]

This slow downhill value of the sterling started in 2008 when we had this big issue with bad debt but more recently if I understand this right the BoE QE program has been watering down the £ because they are printing billions of extra £'s.

I sent some cash to Rina today via WU and I got 64.74 to £.

Its a good time for foreigners to come to the UK now - providing they can get a visa to come here!

[Terpe]

67.48 this afternoon.
That's the highest it's been since September 2012

But why?????

[stevewool]

thats a great rate up up and away

[jonnijon]

Wish someone would tell HSBC what the rate is 62.75 Told them where they can stick their accounts.

[Michael Parnham]

p67.55 at this moment

[tiger31]

68.5 now how much higher will it go its now back to the level when I came out 2 years ago

[fred]

Philippine Peso Poised for Weekly Decline on Stock Outflows



The Philippine peso was headed for a weekly drop as foreign funds sold local stocks on speculation the Federal Reserve will scale back its bond purchases that have spurred inflows to emerging-market assets.
The peso weakened beyond 43 to the dollar for the first time in a year this week. Overseas investors sold $55 million of Philippine shares from June 10 through yesterday, taking this month’s net sales to $256 million, exchange data show. The central bank yesterday kept its benchmark overnight borrowing rate unchanged at 3.5 percent and refrained from amending the 2 percent rate on its special-deposit accounts after gross domestic product grew 7.8 in the first quarter, the fastest pace in the region.
“The peso has been doing terribly as the stock market has dropped,” said Leong Sook Mei, Southeast Asian head of global markets research at Bank of Tokyo-Mitsubishi UFJ Ltd. inSingapore. “There is no need for rate cuts when the peso is weakening and the economy isAsia’s best-performing.”
The peso slipped 1.3 percent this week and gained 0.6 percent today to 42.825 per dollar as of 11:12 a.m. in Manila, according to Tullett Prebon Plc data. It touched 43.295 yesterday, the lowest level since June 8, 2012. The Philippine Stock Exchange Composite Index has fallen 6 percent this week.
The currency has lost 4.3 percent this year after appreciating 6.8 percent in 2012. The peso remains supported by positive fundamentals, and the authorities will maintain a “strategic presence” in the markets, central bank Governor Amando Tetangco said in an interview to Bloomberg TV today.
One-month implied volatility, a measure of expected moves in the exchange rate used to price options, increased 198 basis points, or 1.98 percentage point, to 8.47 percent in the past five days. The gauge fell 25 basis points today.
The yield on the 8 percent government bonds due July 2031 increased three basis points to 4.65 percent in the past five days, according to prices from Tradition Financial Services. The rate fell 10 basis points today.

http://www.bloomberg.com/news/2013-0...-outflows.html

[Terpe]

Thanks Fred
It did puzzle me.

[jonnijon]

4000 peso more in my pension this month

[bigmarco]

Still creeping up 66.40 at IRemit today

[Terpe]

Still creeping up 66.40 at IRemit today

Nah, it's going down now, it's been well over 67 this past couple of weeks

I sent a fairly large amount last week with iRemit at 67.70. Talk about lucky timing

[imagine]

any difference between using IRemit and world remit, charges reliability recommendable etc?

[Terpe]

any difference between using IRemit and world remit, charges reliability recommendable etc?

Stewart, there's lots of ways and remittance organisations to send money.
It does depend on how much you want to send and how the recipient wants to receive.

For a long time now we've used iRemit simply because it suits us.

Everyone will tell you their preferred method/company is best.

I would suggest you do a quick search here on the numerous threads about sending money and find something thats best for you.
My best advice is to settle on one where the total overall costs are acceptable and the organisation is reputable.

Remember it's not just about charges etc, look to the exchange rates too

iRemit are always very very close to interbank rate.

[Steve.r]

65.81 with PNB remmittence today