Thursday, November 18, 2004

Don´t Trifle with my PESO


This afternoon, my colleague who takes care of the daily FX update was sneering his way to the white board (the divine white board where we tally our targets is behind me) as he swiftly changes the company internal Euro - Dollar rate. A record breaking climb for the Euro(!), US$ 1.00 = € 0.76

So, I then quickly checked how our very own martyr Peso fared in the currency exchange game. As per FXConverter at Oanda.com, Thursday, November 18, 2004...

1 Euro = 73.52304 Philippine Peso
1 Philippine Peso (PHP) = 0.01360 Euro (EUR)

Median price = 73.41665 / 73.52304 (bid/ask)
Estimated price based on daily US dollar rates.

Oh my gawd! PHP 73++ exchange rate! I don´t know if I should lament or be gleeful but sure my wallet will celebrate when I go home next month (to the Philippines).

When I was in Pinas the other month on business, the foreign exchange rates that I can remember were the following:

Money Changer Rates:
(in the malls)
1 Euro exchanged with a € 20 bill and up = PHP 68++
1 Euro exchanged with a € 10 bill and below = PHP 67++

Someone tipped me that there is this Money Changer in Ayala Makati giving PHP 70+(?). Does that mean he will be giving PHP 75+ now?

Bank Rates:
(when you use your European Credit Card and Bank Card ATM)
1 Euro = PHP 65++ to PHP 66++

Hotel Rates:
(you will be stupid to exchange your Euros here!)
1 Euro = PHP 62++ to PHP 63++

3 comments:

  1. howly shet. i didnt even notice that last week when i was there. how can we save our ailing peso??? disparity between rich and poor will again soar high. this will motivate filipinos all the more to leave the country and work abroad...sino na maiiwan sa atin???

    ReplyDelete
  2. Anonymous2:34 am

    Yes, the dollar is getting weaker. Hey, guess it's time (or might as well wait a little more) to play forex. Reminds me to confer with my former colleague/trader as it's almost a one-on-one rate on the USD/JPY tally board, approx USD1.00=JPY103.7; JPY1=PHP.5425
    >>> Kris

    ReplyDelete
  3. ana,

    yes u are right naawa ako sa peso natin... i was in fact a bit shocked when i was there the other month. the 1 liter gasoline was around P27 already. it was only P18-19 2 years ago before i left!

    as for the pinoy going abroad. it wont stop. actually most of my customers in pinas are busy with immigration. the sad thing is they are the professionals of our country.

    kris,

    are u back in the forex game? i havent really done those and dutchman doesn't like to play. he is more the long term type, but with stocks.

    just curious, what are the basis of playing? let me know either here or in YM.

    ReplyDelete

Hi, thank you for taking time.

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