Ph Redditors financial and economists here.. what are the chances that the peso is really falling? Is the BSP not doing enough to stabilize the PHP like in the area of 53-54? Will we be doomed like the Argetenian Peso or Turkish Lira or far worse, be a falling African currency?
Help me understand our situation... the peso is falling like a bird's shit from heaven.
Is it necessary to open a US dollar account if I'm going to receive funds from abroad in USD? Or is a Peso Checking/Savings account fine? Either way, what are the other benefits of using a US dollar account?
PS: I'd prefer a Peso account if it is fine and ignore the benefits of a US dollar account.
Going to Mexico in a couple of weeks, just need a couple hundred dollars in cash for tips ect, what's the best idea? Change at the bank or FOREX office? to USD or Peso?
Easiest way for me to convert my PHP to USD and store it in the bank? Really worried about the Philippine Peso
I'm 24 years old and currently have a long term savings of PHP 4 million. I am worried as hell on how the Philippine economy is doing. I hate watching my money decline in value day after day. The Philippine peso is currently valued at an exchange rate of 53.71 to the US dollar. What is the easiest way for me to do this? I have a feeling the situation will only get worse with the trade war anxiety etc. Please dont say just put it in Philippine stocks as they are practically in freefall and i dont see the situation getting better anytime soon. I dont want to be the one rushing out of the Philippine Peso too late just like the iranians rushing out of their local currency once it starts losing value incredibly fast.
Is it necessary to open a US dollar account if I'm going to receive funds from abroad in USD? Or is a Peso Checking/Savings account fine? Either way, what are the other benefits of using a US dollar account?
PS: I'd prefer a Peso account if it is fine and ignore the benefits of a US dollar account.
So, my grandfather died over twenty years ago. No one had touched his stuff since his death. While going through it; we found a tin with quite a bit of Mexican currency. What can we do with this? Can it be exchanged into USD? I don’t want to touch it because it seems disrespectful but my mom and I aren’t in the best financial state and it’s good to know we might have a small nest egg should worse come to worse. It’s a few k pesos and if my math is right, it’s about $3k usd which isn’t gonna make us rich but would help a bit.
Pretty much what the title says – I’ve looked at a number of them, but none will allow me to trade USD:PHP. Even interactive brokers (which has USD:THB) doesn’t have PHP. Does anyone have any insights on this?
which makes more sense: stack up USD on Wise or converting it to to Peso and deposit in a high interest digital bank?
Hello, dollar earning freelancers! As the title says, what are you plans in taking advantage of the high conversion rate? Do you think we should keep some of our USD for future purposes (traveling, or back up plan just in case USD gets more expensive) or convert it all to peso (high conversion rate) and depositing it on Seabank / maya / tonik with 5% interest rate? Im currently keeping 25% of my income as USD, while the 75% is split between expenses, emergency fund, travel fund, and every day money. How do you manage your finances?
Are there any issues exchanging Argentinian pesos back to USD?
With the black rates being 320 right now and the exchange rate being 162. What are the downsides to withdrawing more money than i need for this trip, exchanging USD into pesos at the black market rate, and then back to USD at the official rate. It seems to me that I could be making money that way.
Is it necessary to open a US dollar account if I'm going to receive funds from abroad in USD? Or is a Peso Checking/Savings account fine? Either way, what are the other benefits of using a US dollar account?
PS: I'd prefer a Peso account if it is fine and ignore the benefits of a US dollar account.
BSP just hiked key interest rates by 50basis points (4. 25% rate) to stave inflation and defend the Peso against strong USD...
Hiking interest rates means higher interest in loans so it will discourage the flow of money in circulation and also have the effect of making the Peso more appealing to investors..
In a pure USD to Peso, not accounting for the exchange rate. How much is 1 peso in USD?
For example, for Korea. In a pure WON to USD, 1,000 WON is $1. According to the exchange rate however, 1,000 WON is $0.71. How does the peso fair? I can only speak for Korea's WON. I need this question answered for a discussion question for school....
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