The Philippine peso: Strongest currency in Asia! GOOD NEWS

[Rance]

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Peso dips as dollar demand rises
By Michelle Remo
INQ7

MANILA, Philippines - The peso dipped a bit Thursday, shedding off 14 centavos from the previous day's close.
The local currency ended Thursday's trading at P46.17 against the US dollar, versus the P46.03 registered Wednesday.

Traders said the minimal decline of the peso was due to demand by some corporate entities for dollars, as they prepare for importation of raw materials and other goods.

Others said the peso's movement was in line with that of regional currencies, as the dollar generally gained momentum amid improving sentiment concerning the US economy.

The peso reached an intraday high of P46.1 against the greenback, weaker than the high of P46.02 registered Wednesday. The lowest value Thursday was recorded at P46.23.

Market players said the peso is expected to move today to a level just close to Thursday, noting they were not expecting substantial triggers for either a sharp appreciation or depreciation.

Banco de Oro expects trading of the local currency to range between P46 to P46.3 Friday, said market strategist Jonathan Ravelas.

[GodServant]

money! money! money! wooooooo

[z3r012]

for me i thinks we should change our currency from peso to PRESO! - as the word implies nga grabeh dyud ka lisud dinhi sa pinas

[wikki]

strongest gud tawn sa Asia, in our dreams cguro joke cugor na. note that Arab countries are also asians.

its not the currency that defines the countries economic capability if it was just that, then the USA wont even bother China about thier currency value.

[istoryaaah]

palami na pud... if you are an outsourcing freelancer or an export manufacturer. You'll know that kind of publicity is BS. Inflation rate is a term used by imperialist to denounce a country's low level of economic stance. Its like saying your gold is equal our poop. And when you say "NO its not" then out comes an inflation rate. No matter how high or low the dollar value would go, as long as our local economist view Western countries as trading gods then there's no use having a monetary currency.

I would rather have China encourage the Asian countries to develop just one currency and kick off US dollars than wait for them to kick the hell out of our economy. China became an economic power house not because they were backed by western countries, but because they played with the US economy and determined its flaws. Now they are being targeted as an economic threat rather than an economic salvation.

However, the emergence of China as a major economic superpower has raised
concern among many U.S. policymakers. Some express concern that China will
overtake the United States as the world’s largest trade economy in a few years and
as the world’s largest economy within the next two decades. In this context, China’s
rise is viewed as America’s relative decline. Another concern are the large and
growing U.S. trade deficits with China, which have risen from $10.4 billion in 1990
to an estimated $232 billion in 2006, and are viewed by many Members as an
indicator that China uses unfair trade practices (such as an undervalued currency and
subsidies to domestic producers) to flood U.S. markets with low-cost goods and to
restrict U.S. exports, and that such practices threaten American jobs, wages, and
living standards.

Source: http://www.fas.org/sgp/crs/row/RL33604.pdf

Its sad, but its true...

[amnesia]

Are you sure that we are newly industrialized country or trying to be or trying hard?

This is the biggest mistake done by the Government we have insisted to become an Industrialized country, rice field turn into subdivision/condominums/hotels/factory and etc. tan.awa ang Pilipinas kawawa compare to Vietnam and Thailand. Their is nothing wrong for the country to be industrialized as long as it boost our GDP, Gross domestic Product or GDP is the basis for a stronger economy. Pero wla man.. Kung ato jud tukion ang permi mo padako sa atong GPD kay ang atong agricultural products like mango, banana, pineapple and etc.

A country that has been considered as one of the most prosperous country in Asia next to Japan. Did you know why? It is because of our domestic products which is the agricultural products like sugar, tobacco and etc. pero asa naman ni sila ron. Wala na because we made a sudden change by insisting to become an Industrialized country. Government shifted its program that eventually kill its economy.

right on! we could have been one of the richest in asia if we only knew how to manage our resources well...

[macrowide]

Are you sure that we are newly industrialized country or trying to be or trying hard?

This is the biggest mistake done by the Government we have insisted to become an Industrialized country, rice field turn into subdivision/condominums/hotels/factory and etc. tan.awa ang Pilipinas kawawa compare to Vietnam and Thailand. Their is nothing wrong for the country to be industrialized as long as it boost our GDP, Gross domestic Product or GDP is the basis for a stronger economy. Pero wla man.. Kung ato jud tukion ang permi mo padako sa atong GPD kay ang atong agricultural products like mango, banana, pineapple and etc.

Ang Hacienda Luisita kay gusto man mahimog industrial or ecozone para wala nay labad sa mga trabahante.

Matuman na gyud ni sa kang Noynoy.

[wikki]

@istoryaaah - but China is still better an economic partner than the west plainly because the term "Economic Partner" holds true when dealing with them compaired to the West, nig human nilag gamit nimo your done.

Go China!!!

maypa mag create sila og Asian Union. like the EU and stand strong together with Asia and let Russia join the fun. Mu FLIP out gyud ang US ana ba.

[delicatissima]

wow! one asian currency?

[White-raven]

Maybe stong tungod sa remittances of the OFW's, sad to say weak pa kaayo ang atong ekonomiya kompara sa ubang asian countries.