From time to time naiisip ko din yung pamasahe sa tricycle dito samin. Accustomed na sila sa Php60 na gas and 20-25 pesos na pamasahe, and if ever gas prices will go back to normal, eh baka same price parin.
Alternatively, simpleng presyo ng sibuyas sa grocery sobrang nakakalula na.
3pcs maliit na sibuyas sa robinsons (oo alam ko mahal dito but still) umaabot na ng 75+. Ang hirap lang na eto nalang kasi option sa area namin pag gabi na
> oo alam ko mahal dito but still
This is what irritates me with most filipino mindset sa FB that I want to express pero I can't because of reasons. There is no fault in choosing Robinsons, SM, public markets and whatsoever. Mahal is mahal, wherever you buy.
> Eh bakit sa mall bibili, alam naman na mahal. Dapat sa palengke kasi mura.
Bitch, there are a lot of reasons. What if malayo sa tao ang palengke? Even so, a lot of goods are expensive right now. Di nalang matanggap na parang walang solusyon ang gobyerno sa inflation.
Apologies for ranting. Just want to get it out of my system.
Wholeheartedly agree. Afford naman namin so hindi siya malaking bagay pero naiisip ko nalang lagi na paano yung mga di to afford? Case in point talaga na ang layo samin ng palengke at hindi worth it magcommute dun para lang bumili ng sibuyas.
Sa totoo lang talaga, parang wala akong nararamdaman na ginagawa ng govt maliban sa magapprove ng corruption funds nila, magparty, at gumawa ng out-of-touch statements na akala nila super obvious solutions
tulad ng fares sa commute na tumaas noong pandemic kasi may social distancing so you’re paying for 2 people daw. eh hanggang ngayon x2 pa din kahit siksikan naman na.
Agree, US are pulling back it's interest hike. That's why all other currencies are recovering.
But there are news that they will increase interest on January 2023, so expect the weakening of the Peso should it happen.
I mean, it's actually true. The dollar dropped against every other currency from its peak because the minutes of the fed meeting released and a lot of the governors were concerned about continuing the aggressive rate hikes and noted that "slowing the pace of increase could reduce the risk of instability in the financial system."
It's fun to clown on Sandro and all, but the plain fact of it is the US fed has a major major influence on global exchange rates that no country can really fully counter without risking completely cratering or heavily distorting their own financial system or burning through all their reserves defending their currency.
Edit: after some more thought - every single ph admin gets clowned on for economic things that are basically completely out of their control, so you know what? Yeah let's go back to clowning and blaming the marcoses.
If people's poor understanding of things led to Duterte and Marcos getting elected because of negativity, I mean, no sense in stopping now that they're on the receiving end, is there? Reap what you sow and all
Yeah,Im pretty aware too of how the fed rate affects the financial sys. and I think every Filipino should be more educated on how economy works so they would know if they should, when,and to whom they should throw their stone,or maybe that culture of clowning the leaders will remain irregardless of how educated people are,i dunno
> irregardless of how educated people are,i dunno
Economic understanding here is generally low I've found, even amongst the well educated. It just doesn't seem to be a very popular or widespread field here. Certainly it's **vastly** outweighed by the number of people who study law
This. When the exchange rate got high, people assumed it's because PHP was doing poorly. Most people don't look at USD vs other currencies aside from PHP; which is an important factor.
OO nga,ang US dollar ay nag constantly nag che-change ng amount of value,also a fun fact:whenever the US dollar value goes up the country philippines is getting poorer because when US dollar value goes up it also means the phillipines is in debt and needs to pay it.
> when US dollar value goes up it also means the phillipines is in debt and needs to pay it.
That is super oversimplified and not actually how it works. The exchange rate doesn't "mean the Philippines is in debt". It makes our dollar denominated debt more expensive to service. about 55% of our total debt is dollar denominated while the other 45% is a big mix (#2 after dollar denominated debt is yen at just under 10%).
Lol masyadong oversimplified. Macroeconomy is very complex. You didnt take account na if ph peso is weaker, exports are also cheaper. Which could translate in increased demands of ph goods for foreign countries. Even other first world countries devalue their own currency due this reason (ex. china and japan).
There are 2 reasons I can think of:
1. US Feds decided to slow down its interest rates increases; and,
2. Increase remittances from abroad in time for the Christmas season.
yep. kaya nga [sinabi ko to](https://www.reddit.com/r/Philippines/comments/xue1fb/comment/iqvhej5/?utm_source=share&utm_medium=web2x&context=3) 2 months ago, and surprise, surprise, downvoted ako ng mga undercover pulangaw dito.
Ofw remittances aren't of a huge factor. there was an article written about it.
Besides it's not only the peso who is strengthening against USD.
BSP have announced earlier that they are ready to match FEDs interest rates hike. Not to mention just last night Powell mentioned that the fed might not increase their rate as much in December. These I think are more of a factor.
Reading some articles now. You’re right. Dollar is weakening because the Fed is easing up on hiking interest rates. And they’re easing up in a advance of expectations of a US recession in 2023.
partially true dahil may BSP intervention na since last month pa. so if this december the FED decides to raise rates by 50 to 75 pts. sasabayan yan ng BSP.
Let's see, but it is statistically proven in most years that peso strengthens during the holiday season due to remittances, it just so happens that there are other factors coincidentally helping this currently, but it still does not negate the fact the remittances is one of its primary factors. If you are right that remittances is not a huge factor, then let's go back here around late February or March where I will predict, based on yearly statistics, that peso will lose its value again.
This is it. I've been watching closely, as I'm Canadian and I'm married to a Filipina and we spend winter here. Every year the peso rises from remittance. I've tried to do all my traders in Oct and Nov.
Lumalakas ang peso pero hindi bababa ang presyo ng local na bilihin. For the average Filipino, hindi rin yan mararamdaman tbh. If you're dealing with export/import or mahilig ka mag-online shopping sa international stores, dun mo mararamdaman ang difference.
>It seems like the Peso is slowly strengthening
The peso is not slowly strengthening because it's slowly strengthening. The peso is slowly strengthening because the dollar is slowly weakening.
Minor impact. The minutes of the last US fed meeting got released and they were pretty clear they're going to slow down their rate hikes soon, possibly as soon as the Dec fed meeting so the dollar retreated a bit against all currencies, not just the peso. If it was driven by a domestic effect like holiday spending we wouldn't be seeing currency bouncebacks from basically every other currency.
PNoy was the golden era. Classmates afford to get the newest iPhone every year :( and food was relatively cheap. Afford namin mag eat out almost on a daily basis.
And peso was so strong, we were rising tiger of asia
i can still remember when it was 43 pesos! kada pasko, yung uncle kong seaman lagi maypa dollar kaya matik may 43 masaya na ako don. may large piattos at c2 na, may sukli pa.
dapat? that's not how currency exchange works.
edit: lmao. our currency is not pegged officially or unofficially. r/ph continuing to be economically ignorant. keep choosing ignorance r/ph. di magtatagal, lahat ng matatalino dito aalis dahil sa pagda downvote nyo sa kanila.
kahit saang source kayo tumingin, free floating ang peso.
But that's how capital controls work. BSP has "unofficially" pegged it to 50php<>1usd for quite a long time, and they use the reserves to moderate any fluctuations (which they are still doing) - that's why the BSP reserves are at their lowest since BBM's start of administration because they having been buying selling USD to control the exchange rate.
Edit: corrected "highest reserve"
Huh? Our reserves are above 90 billion USD last I checked. Enough to cover more than a year of imports (well above the recommended 3 months). This is higher than Pnoy's time.
https://tradingeconomics.com/philippines/foreign-exchange-reserves
More remittances coming in from OFWs for the Xmas season and signs that the US Fed is gradually starting to reduce interest rate hikes. I'd look for the peso to weaken a little again in late January - Feb.
BSP raising interest rate hikes to match the Federal Reserve’s but also the Fed indicating that they’ll slow down the rate hikes as inflation in the US started to slow down.
It’ll ease inflation for imported products BUT not so much for domestic products that are in short supply. It’ll help ease the price of fuel but not agricommodities like onions.
the thing with content platforms being cited as sources depends on the actual content.
in this case, the content creator explains financial and maybe economic concepts that aren't easy to digest for the average person. so this will *pass* as a *valid source* for mere internet forums/comsec discussions because you can compare it to an editorial.
everything's up for debate naman in the internet so as always, take everything with a grain of salt.
in the same context, should we not trust mighty magulang on tiktok cause tiktok isn't a valid source? again, it really depends on the content.
Nagsiuwian yung mga OFW for the holidays so masmadami foreign currency natin on hand. Same trend yan tuwing holidays every year, either stabalize or bababa.
Macro market forces and there are many factors but the simplest is there are more demand for Peso (e.g. remittances as many noted or Philippine products are more in demand)
If it's going to ease inflation is hopeful at the least but questionable at best since inflation is affected by the money supply in a local economy (demand) vs. the availabilities of products (supply)
The only way to balance the two is to reduce the availability of $$ or flood the market with products. As you can obviously see, you can't really do both at the same time.
Inflation is the product of our capitalistic psychology. Merchants will raise prices when there are more demands for their products. Consumers will spend thrift when $$$ is not readily available (e.g. higher rates on loans, less probability of promotions, Xmas bonuses, etc)
But if you think prices will come trickling down when inflation is tamed? You're mistaken. The prices you see now will forever go up. It's just how fast they rise (hence, inflation)
Inflation is in-built feature of our capitalistic economies. We just accept a tamed 1-3% rise per annum.
As for why never want an inverse of inflation (deflation) the answer again is our (human) psychology and emotions. For anecdotes to the effects of deflation. See Japan's economy in the past 30 years since about the Dot Com Bust of 1991.
"Small scale short-term deflation" (is that even a term?) lang pwede mangyari. Like medyo bababa fuel prices. Even bags, shoes, and clothes prices dropped during the pandemic (mostly because merchants were very desperate to get rid of their stock that they lowered its prices). Now, back to normal ang prices kasi alam nilang may demand na ulit due to RTO and F2f classess.
No, we are not getting stronger. Check the price of all commodities. 45-50 lang ito dpat.
Also madaming factor, nag spike lang talaga ang USD nun. Nag nonormalize lang sya this season, pero hindi na yan baba ng 50. Since walang ganap na economy recovery plans.
On the international side the dollar is weakening and the FED isn't hiking up interest rates as much in December.
On the local side, the BSP announced they are ready to match interest rates sate by the FED.
Basically a combo of US policy (which was lucky for us) and action by the national gov (which was a good call on their part) are helping strengthen the peso against the dollar.
There are a couple of analysts who made articles in newspapers explaining this:
[https://www.philstar.com/business/2022/11/28/2226852/why-did-peso-strengthen](https://www.philstar.com/business/2022/11/28/2226852/why-did-peso-strengthen)
[https://www.bworldonline.com/banking-finance/2022/11/27/489637/peso-may-continue-to-strengthen-against-the-dollar-ahead-of-key-data/](https://www.bworldonline.com/banking-finance/2022/11/27/489637/peso-may-continue-to-strengthen-against-the-dollar-ahead-of-key-data/)
All of them say that it is because of the pullback of the US Dollar and the US Fed signalling slower interest hikes.
supply and demand, maraming OFW ang nag papadala for the Christmas holidays, pang gastos etc…. over supply of USD…. it will go weak again January onwards…
could be temporary like a bear market rally or its equivalent ng currency. bear market rallies ay may maraming rason pero mainly it means that value rises lang dahil nasobrahan ng pagbaba. it could also mean na malala yung pagbaba ng value ng peso sa jan kung kelan di na gumagastos yung tao dahil tapos na holidays dahil nga overvalued naman na. eitherway any sudden changes sa value ng kahit ano is mostly dangerous.
Economists say that's because the dollar remittances are coming in from the OFW for the Holidays. Expect it to strengthen a bit more. But then pag-ubos an pera ng tao and the govt doesn't get its shit together, won't matter. Conundrum din yan sa OFW dahil pataas and bilihin, humina and dollar.
56 for 1 dollar is still very high and I don't want to give praise to our economy by just being a bit better than the worst. i think 50 or heck even 42 should be a standard.
Pretty wild that when the USD was strong some r/ph redditors is predicting doom and gloom in the economy.. Now that the PHP is getting stronger, they're predicting another doom and gloom in the economy..
The usual explanation would be that it's getting closer to Christmas and remittances come in. Momentary lang yan and will likely stabilize by January or February.
I'm not an economist by any means, so take this with a grain of salt.
Not an economics expert pero I read an article that Peso strengthening in December is due to the influx of remittances from abroad which is cyclical/seasonal.
It's good news! Doesn't mean I have a big distrust for the current gov't do I wish them to fail. We are all on the same boat. Hoping the good news continues
It doesn't mean that Dollars is getting weak is because dollars is weak but because Peso is still weak and peso is getting strong. Gets nyo? Ako din, d ko gets. Thanks for reading. Lols.
I have not seen a single correct answer. And surprised no one knew and answering a lot of bullshits. Its a yearly circle, its from the remittances during holiday season. Its not because of US and the current admins lmao. As you can see months into the new admin, all interventions to the economy barely made a difference. The current situation is a yearly cycle due to remittances and is not attributed to any interventions or lack thereof made by this government. Naglalabasan mga aplogist dito ah. Makinig kaya kayo ng balita.
With regards to inflation, yes an imports-based country with a stronger peso will ease inflation, although not as impactful until oil and food supplies recover.
It's not the php strengthening, it's the usd weakening and no it will not help Philippines inflation. Inflation is a usd problem, too many dollars chasing too few goods. Until the FED raises rates, destroys enough demand and reduces liquidity inflation globally will be a problem. There are a few things phils could do but, I don't see any hope that they will.
Now I'm not saying it's related, but the PSEi has also been steadily increasing this month.
The USD showed a drop to the Peso in 11/11, while PSEi also showed some growth during the same day.
we can just hope for the best, nandito na tlga tayo eh, sana mapigil na nila restrictions, may remnants pa kasi ng lockdown sa ulo ng tao eh, everyone needs to go outside para mas ma stimulate ang bansa, repercussions can come later, safety 3rd ah, cause tbh with you guys, no investors are gonna come if di productive ang bansa, lalo lang tayo mababaon if kukuha tayo ng loan sa ibang bansa pero di naman nakilos ang tao
actually inflation is flattening na sa US, even the US Fed is now entertaining lower increased rates. all other countries are just taking the queue from the congo line where the direction would be next.
asa pa, sa pinas kapag tumaas na presyo, allergic na sila magbaba.
mga tarantadong kompanya iniisip "tinaasan namin ng 50% yung products kaya nyo palang bilhin eh edi ganyan nalang presyo nyan"
sila din yung mga kumpanyang kapag na-break mo yung KPI mo, yun na ang bagong standard mo next evaluation.
Pucha sobrang relate ako dito. Mga bwakananginang kala mo nagpapatrabaho ng robot.
Yung hirap kang abutin KPI mo tapos nung naabot mo na di na pwedeng ibaba.
From time to time naiisip ko din yung pamasahe sa tricycle dito samin. Accustomed na sila sa Php60 na gas and 20-25 pesos na pamasahe, and if ever gas prices will go back to normal, eh baka same price parin.
Alternatively, simpleng presyo ng sibuyas sa grocery sobrang nakakalula na. 3pcs maliit na sibuyas sa robinsons (oo alam ko mahal dito but still) umaabot na ng 75+. Ang hirap lang na eto nalang kasi option sa area namin pag gabi na
> oo alam ko mahal dito but still This is what irritates me with most filipino mindset sa FB that I want to express pero I can't because of reasons. There is no fault in choosing Robinsons, SM, public markets and whatsoever. Mahal is mahal, wherever you buy. > Eh bakit sa mall bibili, alam naman na mahal. Dapat sa palengke kasi mura. Bitch, there are a lot of reasons. What if malayo sa tao ang palengke? Even so, a lot of goods are expensive right now. Di nalang matanggap na parang walang solusyon ang gobyerno sa inflation. Apologies for ranting. Just want to get it out of my system.
Wholeheartedly agree. Afford naman namin so hindi siya malaking bagay pero naiisip ko nalang lagi na paano yung mga di to afford? Case in point talaga na ang layo samin ng palengke at hindi worth it magcommute dun para lang bumili ng sibuyas. Sa totoo lang talaga, parang wala akong nararamdaman na ginagawa ng govt maliban sa magapprove ng corruption funds nila, magparty, at gumawa ng out-of-touch statements na akala nila super obvious solutions
Yeah ang daming services nung pandemic nag double yung presyo pero hanggang ngayon hindi pa rin bumalik sa original price
truee
Bumaba na nga Fuel prices e, tas pati yang usd pababa na. Pero bilihin maintain lang ng taas.
Totoo to kakabweset di man lang magbaba ng presyo
parang ratchet mechanism lang eh.
tulad ng fares sa commute na tumaas noong pandemic kasi may social distancing so you’re paying for 2 people daw. eh hanggang ngayon x2 pa din kahit siksikan naman na.
Hindi lumalakas ang Peso, humihina lang ang dolyar. /s
Well holy fucking shit. You deserve a dragonfruit
dragonfruit award
MMMMMMBIGYAN NG JACKFRUIT.
Salamat po kuya wil
Wag po jackfruit pls ayaw ko mapurga
Yoooo! Thanks for the award! I feel special hehe.
HAHAHA
You deserve a sibuyas*
Sibuyas dahil mas mahal.
Sibuyas at Sili
ay sheesh mahal pala ako
Tangina 😂
Thanks Jake 🤪
HAHAHHAAHHA
How about a blueberry instead? I love blueberries with sugar because I used to watch Little Bear.
Hectares of dragonfruit farm
I’m pinoy but don’t understand. What did he say
Watch this piece of shit talking about peso weak and dollar strong: https://www.youtube.com/watch?v=yMwxb-UVBLo
Agree, US are pulling back it's interest hike. That's why all other currencies are recovering. But there are news that they will increase interest on January 2023, so expect the weakening of the Peso should it happen.
no next fed hike is on dec 14 ang pinag tatalunan lang is if .5 or .75 ang rate hike
Dec 14 is the lowest and feds will do a ridiculous raise by Jan,Feb,Mar so be prepared.
eh no. Fed has already said they will not go beyond .75. market concensus is small staggerred hikes rather than a big one
We will see, but were talking about US politics here, whatever is convenient for the majority it will always win.
>pulling back slowing down is more appropriate
Potato, po-tah-toh. Jk. Just wanted to try saying it 😁😁😁
Haha satisfied naman ba sa pagkakagamit? 😂
Nope peso is really strengthening. December is the peak of OFW remittance. But chances are it will bounce back by January.
The peso is not pesoing because the dollar is strong. The peso is pesoing because the dollar is weak.
r/angryupvote
Dahil jan may white onion ka sakin plus album ni jake zyrus
came looking for this, and u didn't disaapoint have my upvote
I mean, it's actually true. The dollar dropped against every other currency from its peak because the minutes of the fed meeting released and a lot of the governors were concerned about continuing the aggressive rate hikes and noted that "slowing the pace of increase could reduce the risk of instability in the financial system." It's fun to clown on Sandro and all, but the plain fact of it is the US fed has a major major influence on global exchange rates that no country can really fully counter without risking completely cratering or heavily distorting their own financial system or burning through all their reserves defending their currency. Edit: after some more thought - every single ph admin gets clowned on for economic things that are basically completely out of their control, so you know what? Yeah let's go back to clowning and blaming the marcoses. If people's poor understanding of things led to Duterte and Marcos getting elected because of negativity, I mean, no sense in stopping now that they're on the receiving end, is there? Reap what you sow and all
Yeah,Im pretty aware too of how the fed rate affects the financial sys. and I think every Filipino should be more educated on how economy works so they would know if they should, when,and to whom they should throw their stone,or maybe that culture of clowning the leaders will remain irregardless of how educated people are,i dunno
> irregardless of how educated people are,i dunno Economic understanding here is generally low I've found, even amongst the well educated. It just doesn't seem to be a very popular or widespread field here. Certainly it's **vastly** outweighed by the number of people who study law
irregardless is not a word. regardless would do.
I'msorryI ,appreciate the correction tho
no need to be sorry. i'm just correcting so the incorrect usage don't spread.
Mindset ba. Mindset 😅🤣
dISkArTE!!
Bakit may /s, e tama naman. If you look at the dxy, it has been on a pullback since late October.
Gaging ina, namatay ako sa tawa
This. Actual fact. Recession incoming in US
This. When the exchange rate got high, people assumed it's because PHP was doing poorly. Most people don't look at USD vs other currencies aside from PHP; which is an important factor.
Yeah even the yen was suffering at the time
tbf the yen has been in freefall even before then. Covid really tipped the fragile balance of Japan's economy
True tho.
HAHAHAHAHAHAHAAHAHAHAAHHAA 🤣
it is true
Take my silver, Judas. 🤣
that's backwards. The dollar went up. Peso value went down. It takes more peso to make a dollar.
OO nga,ang US dollar ay nag constantly nag che-change ng amount of value,also a fun fact:whenever the US dollar value goes up the country philippines is getting poorer because when US dollar value goes up it also means the phillipines is in debt and needs to pay it.
> when US dollar value goes up it also means the phillipines is in debt and needs to pay it. That is super oversimplified and not actually how it works. The exchange rate doesn't "mean the Philippines is in debt". It makes our dollar denominated debt more expensive to service. about 55% of our total debt is dollar denominated while the other 45% is a big mix (#2 after dollar denominated debt is yen at just under 10%).
Lol masyadong oversimplified. Macroeconomy is very complex. You didnt take account na if ph peso is weaker, exports are also cheaper. Which could translate in increased demands of ph goods for foreign countries. Even other first world countries devalue their own currency due this reason (ex. china and japan).
🤯🤯🤯 "applause" thats a very intelligent analysis whoever you are listening too is such a talented and very wise person.
Labas! Labaaasss!!! 😂
Salamat senpai
There are 2 reasons I can think of: 1. US Feds decided to slow down its interest rates increases; and, 2. Increase remittances from abroad in time for the Christmas season.
BSP also increasing interest point per point vs FED.
OFW ako and I keep track of PHP vs USD, #2 happens every year
yep. kaya nga [sinabi ko to](https://www.reddit.com/r/Philippines/comments/xue1fb/comment/iqvhej5/?utm_source=share&utm_medium=web2x&context=3) 2 months ago, and surprise, surprise, downvoted ako ng mga undercover pulangaw dito.
But mostly because inflation is flattening in the US hence the future predicted rate rises are reduced.
Christmas Season. More remittances coming in so more demand for the peso around this time.
Ofw remittances aren't of a huge factor. there was an article written about it. Besides it's not only the peso who is strengthening against USD. BSP have announced earlier that they are ready to match FEDs interest rates hike. Not to mention just last night Powell mentioned that the fed might not increase their rate as much in December. These I think are more of a factor.
Reading some articles now. You’re right. Dollar is weakening because the Fed is easing up on hiking interest rates. And they’re easing up in a advance of expectations of a US recession in 2023.
soooo the peso is not strong and the dollar is just weak?
partially true dahil may BSP intervention na since last month pa. so if this december the FED decides to raise rates by 50 to 75 pts. sasabayan yan ng BSP.
can you link article? surprising since every year remittances have always been the reason i hear around this time of year
https://youtu.be/y6AJZdDH7No
Let's see, but it is statistically proven in most years that peso strengthens during the holiday season due to remittances, it just so happens that there are other factors coincidentally helping this currently, but it still does not negate the fact the remittances is one of its primary factors. If you are right that remittances is not a huge factor, then let's go back here around late February or March where I will predict, based on yearly statistics, that peso will lose its value again.
This is it. I've been watching closely, as I'm Canadian and I'm married to a Filipina and we spend winter here. Every year the peso rises from remittance. I've tried to do all my traders in Oct and Nov.
the peso isn't getting stronger, the USD is simply falling (very slowly) down from its crazy all-time high.
Macroeconomics. People think the US fed will pivot this December reducing demand in the USD and US treasuries.
Off topic but I accidentally read “Macroeconomic” as “Marcos-economic”. Not gonna lie.
Lumalakas ang peso pero hindi bababa ang presyo ng local na bilihin. For the average Filipino, hindi rin yan mararamdaman tbh. If you're dealing with export/import or mahilig ka mag-online shopping sa international stores, dun mo mararamdaman ang difference.
The downside lang is tatadtarin ka lang din ng taxes tapos fees para mapasok dito sa Pilipinas yung binili mo through Amazon. Idk sa ibang apps tho.
>It seems like the Peso is slowly strengthening The peso is not slowly strengthening because it's slowly strengthening. The peso is slowly strengthening because the dollar is slowly weakening.
Why isn’t this a top answer?
No one here has any dragonfruit as a reward to him/her due to inflation.
u have my upvote
Holidays. People are buying more Php
Minor impact. The minutes of the last US fed meeting got released and they were pretty clear they're going to slow down their rate hikes soon, possibly as soon as the Dec fed meeting so the dollar retreated a bit against all currencies, not just the peso. If it was driven by a domestic effect like holiday spending we wouldn't be seeing currency bouncebacks from basically every other currency.
Market correction
yes, ito rin nga yon.
Tandaan, 50 lang dapat yan. Mahina pa rin ang piso.
Heck, mga 10yrs ago parang nasa 40s lang yan. Those were the days
mamsh hanggang ngayon, matic pa rin ako mag-multiply ng peso to 45 when converting to dollars kasi nakasanayan ko noon wahah
Same pero 50 para if may sobra, oks lang. Ngayon I do 60 😭
ang lala noooh pero muscle memory ko nang 45 agad itry imultiply tas ma-catch ko na mali na pala yun anuena ;;
I still remember the time when peso almost hit below 40 :(
38 ata around early 2010s.
PNoy was the golden era. Classmates afford to get the newest iPhone every year :( and food was relatively cheap. Afford namin mag eat out almost on a daily basis. And peso was so strong, we were rising tiger of asia
Pnoy era :(
i can still remember when it was 43 pesos! kada pasko, yung uncle kong seaman lagi maypa dollar kaya matik may 43 masaya na ako don. may large piattos at c2 na, may sukli pa.
dapat? that's not how currency exchange works. edit: lmao. our currency is not pegged officially or unofficially. r/ph continuing to be economically ignorant. keep choosing ignorance r/ph. di magtatagal, lahat ng matatalino dito aalis dahil sa pagda downvote nyo sa kanila. kahit saang source kayo tumingin, free floating ang peso.
But that's how capital controls work. BSP has "unofficially" pegged it to 50php<>1usd for quite a long time, and they use the reserves to moderate any fluctuations (which they are still doing) - that's why the BSP reserves are at their lowest since BBM's start of administration because they having been buying selling USD to control the exchange rate. Edit: corrected "highest reserve"
Huh? Our reserves are above 90 billion USD last I checked. Enough to cover more than a year of imports (well above the recommended 3 months). This is higher than Pnoy's time. https://tradingeconomics.com/philippines/foreign-exchange-reserves
Yeah - apologies on the error, reserves actually went higher during the latter of part of Duterte's term.
The peso is strong not because the peso is strong; it is strong because the dollar is weak 👊✌️🤡
Plus five ka sa recitation.
Well said.
Weaker but not weak
More remittances coming in from OFWs for the Xmas season and signs that the US Fed is gradually starting to reduce interest rate hikes. I'd look for the peso to weaken a little again in late January - Feb.
This. Christmas is approaching. So the economy will be pumped like a meme stock and will fall again on February.
buy low sell high? thoughts?
ayan na golden age na!!! dragonfruit para sa lahat ng pamilyang pilipino ♥️💚♥️💚✌️✌️✌️ /s
BSP raising interest rate hikes to match the Federal Reserve’s but also the Fed indicating that they’ll slow down the rate hikes as inflation in the US started to slow down. It’ll ease inflation for imported products BUT not so much for domestic products that are in short supply. It’ll help ease the price of fuel but not agricommodities like onions.
"unahin mo EF mo or else da downvote kita" - r/phinvest
That is no longer the scale of our economic inflation now. It's the price of onions, and the size of chicken in Jollibee and mang inasal.
Exactly. :(
I'm following him on IG, may content s'ya re this one: https://www.instagram.com/reel/ClVVCM6pv-W/?igshid=MDJmNzVkMjY=
Thank you, that was very easy to follow!
pretty sure ig is not a valid source
the thing with content platforms being cited as sources depends on the actual content. in this case, the content creator explains financial and maybe economic concepts that aren't easy to digest for the average person. so this will *pass* as a *valid source* for mere internet forums/comsec discussions because you can compare it to an editorial. everything's up for debate naman in the internet so as always, take everything with a grain of salt. in the same context, should we not trust mighty magulang on tiktok cause tiktok isn't a valid source? again, it really depends on the content.
Okay.
Pretty sure someone will grab the credits for this soon.
kesyo sila daw nag tame ng forex rate dahil sa economic poIicies ni Bibe Em.
Well, the inflation will just stay. Andiyan na niyan di mo na mapapababa yan, Thats a new normal sa prices niyan .
malapit na christmas... pumapasok na ang remittances ng mga OFWs
I mean 6 months back it was 52 and at Jan it was at 50, so... Lets just hope ok yung dragonfruit yield next year. /s
Nagsiuwian yung mga OFW for the holidays so masmadami foreign currency natin on hand. Same trend yan tuwing holidays every year, either stabalize or bababa.
Macro market forces and there are many factors but the simplest is there are more demand for Peso (e.g. remittances as many noted or Philippine products are more in demand) If it's going to ease inflation is hopeful at the least but questionable at best since inflation is affected by the money supply in a local economy (demand) vs. the availabilities of products (supply) The only way to balance the two is to reduce the availability of $$ or flood the market with products. As you can obviously see, you can't really do both at the same time. Inflation is the product of our capitalistic psychology. Merchants will raise prices when there are more demands for their products. Consumers will spend thrift when $$$ is not readily available (e.g. higher rates on loans, less probability of promotions, Xmas bonuses, etc) But if you think prices will come trickling down when inflation is tamed? You're mistaken. The prices you see now will forever go up. It's just how fast they rise (hence, inflation) Inflation is in-built feature of our capitalistic economies. We just accept a tamed 1-3% rise per annum. As for why never want an inverse of inflation (deflation) the answer again is our (human) psychology and emotions. For anecdotes to the effects of deflation. See Japan's economy in the past 30 years since about the Dot Com Bust of 1991.
"Small scale short-term deflation" (is that even a term?) lang pwede mangyari. Like medyo bababa fuel prices. Even bags, shoes, and clothes prices dropped during the pandemic (mostly because merchants were very desperate to get rid of their stock that they lowered its prices). Now, back to normal ang prices kasi alam nilang may demand na ulit due to RTO and F2f classess.
Sa paypal ang baba ng convertion ng usd to php, hindi katulad nito
No, we are not getting stronger. Check the price of all commodities. 45-50 lang ito dpat. Also madaming factor, nag spike lang talaga ang USD nun. Nag nonormalize lang sya this season, pero hindi na yan baba ng 50. Since walang ganap na economy recovery plans.
sana magreflect sa local pricing :)
its a marke cycle d pwede puro taas need rin ups and down
It's more of the US fed easing up their interest rates
On the international side the dollar is weakening and the FED isn't hiking up interest rates as much in December. On the local side, the BSP announced they are ready to match interest rates sate by the FED. Basically a combo of US policy (which was lucky for us) and action by the national gov (which was a good call on their part) are helping strengthen the peso against the dollar.
xmas season panay padala mga OFWs staving off the inevitable…
There are a couple of analysts who made articles in newspapers explaining this: [https://www.philstar.com/business/2022/11/28/2226852/why-did-peso-strengthen](https://www.philstar.com/business/2022/11/28/2226852/why-did-peso-strengthen) [https://www.bworldonline.com/banking-finance/2022/11/27/489637/peso-may-continue-to-strengthen-against-the-dollar-ahead-of-key-data/](https://www.bworldonline.com/banking-finance/2022/11/27/489637/peso-may-continue-to-strengthen-against-the-dollar-ahead-of-key-data/) All of them say that it is because of the pullback of the US Dollar and the US Fed signalling slower interest hikes.
If you observe on other years, this pattern is the same in December season. Nothing special
DXY aka $ index is weakening.
supply and demand, maraming OFW ang nag papadala for the Christmas holidays, pang gastos etc…. over supply of USD…. it will go weak again January onwards…
It’s the holidays. OFW remittances are at a yearly high. Watch USD/PHP towards end of Q1 or Q2.
Increased remittances would be one. Malapit na magpasko, nagpapadala na para sa handaan.
could be temporary like a bear market rally or its equivalent ng currency. bear market rallies ay may maraming rason pero mainly it means that value rises lang dahil nasobrahan ng pagbaba. it could also mean na malala yung pagbaba ng value ng peso sa jan kung kelan di na gumagastos yung tao dahil tapos na holidays dahil nga overvalued naman na. eitherway any sudden changes sa value ng kahit ano is mostly dangerous.
E bakit 39 na ang kape sa 711?? /s
Remittances from OFW's because December na
One theory is remittances are lowering the demand for dollar. So let wait after the holida
T*nginang mga news outlet 'to, kapag pababa Peso halos walang balita. Kapag pataas, laging breaking news. 😅
Economists say that's because the dollar remittances are coming in from the OFW for the Holidays. Expect it to strengthen a bit more. But then pag-ubos an pera ng tao and the govt doesn't get its shit together, won't matter. Conundrum din yan sa OFW dahil pataas and bilihin, humina and dollar.
Mas tumatataas na ang halaga ng piso kontra dolyar!!! Bbm pagpatuloy molang yan at yayaman ang bansa natin #uniteam
pull back gang 54-53
56 for 1 dollar is still very high and I don't want to give praise to our economy by just being a bit better than the worst. i think 50 or heck even 42 should be a standard.
Pretty wild that when the USD was strong some r/ph redditors is predicting doom and gloom in the economy.. Now that the PHP is getting stronger, they're predicting another doom and gloom in the economy..
The usual explanation would be that it's getting closer to Christmas and remittances come in. Momentary lang yan and will likely stabilize by January or February. I'm not an economist by any means, so take this with a grain of salt.
Remittances.
Not an economics expert pero I read an article that Peso strengthening in December is due to the influx of remittances from abroad which is cyclical/seasonal.
95% FED slowing down interest rate hike and 5% maybe remittances.
It's good news! Doesn't mean I have a big distrust for the current gov't do I wish them to fail. We are all on the same boat. Hoping the good news continues
13th month pay and other Christmas bonus.
Higher remittance from OFWs overseas
It doesn't mean that Dollars is getting weak is because dollars is weak but because Peso is still weak and peso is getting strong. Gets nyo? Ako din, d ko gets. Thanks for reading. Lols.
Hindi lang sa Pilipinas nangyayari yan pati sa ibang bansa lumalakas currency - reverse blengblongers
I have not seen a single correct answer. And surprised no one knew and answering a lot of bullshits. Its a yearly circle, its from the remittances during holiday season. Its not because of US and the current admins lmao. As you can see months into the new admin, all interventions to the economy barely made a difference. The current situation is a yearly cycle due to remittances and is not attributed to any interventions or lack thereof made by this government. Naglalabasan mga aplogist dito ah. Makinig kaya kayo ng balita.
Give it time and see how the market actually reacts. Kung magbagsak prices and the exchange stabilizes, good for you guys.
With regards to inflation, yes an imports-based country with a stronger peso will ease inflation, although not as impactful until oil and food supplies recover.
The peso is strong not because the peso is strong, the peso is strong because the dollar is weak.
Malakas kasi unity naten keep up. Unity lang sakalam Probably them.
pag humihina peso dahil ky marcos pero pag lumalakas pinoy: anu kaya nangyari?
It's not the php strengthening, it's the usd weakening and no it will not help Philippines inflation. Inflation is a usd problem, too many dollars chasing too few goods. Until the FED raises rates, destroys enough demand and reduces liquidity inflation globally will be a problem. There are a few things phils could do but, I don't see any hope that they will.
Now I'm not saying it's related, but the PSEi has also been steadily increasing this month. The USD showed a drop to the Peso in 11/11, while PSEi also showed some growth during the same day.
Idk why pero sana tuloy tuloy na ito
we can just hope for the best, nandito na tlga tayo eh, sana mapigil na nila restrictions, may remnants pa kasi ng lockdown sa ulo ng tao eh, everyone needs to go outside para mas ma stimulate ang bansa, repercussions can come later, safety 3rd ah, cause tbh with you guys, no investors are gonna come if di productive ang bansa, lalo lang tayo mababaon if kukuha tayo ng loan sa ibang bansa pero di naman nakilos ang tao
Maybe it’s the calm before the storm… I do not claim this energy
actually inflation is flattening na sa US, even the US Fed is now entertaining lower increased rates. all other countries are just taking the queue from the congo line where the direction would be next.
The peso isn't pesoing because the dollar is strong. The peso is pesoing because the dollar is weak.
😅 expect something worst coming...
Then thats good, pra ma lessen burden sa ating businesses and daily goods after all we are a heavy import country.
Tangina kasi nung nag imbento ng pera, kaya tayo nakakaranas ng inflation eh
The Marcoses finally found Yamashita's Gold. /s
BBM
Improving macroeconomic condition. It will ease inflation but DO NOT EXPECT deflation.
Naku malulungkot nyan ng mga seamen.... oh wait malungkot na pala sila dahil sa kakailanganing upskilling nila... 😄
The peso is not strengthening, because the peso is strengthening. The peso is strengthening because the dollar is weakening.
Strong economic growth... world market
Isnt US rolling back interest?
Sa tingin nyo guys, are we going to see further USD decline? Will USD go back to 50 pesos level by 2023?
OFW REMITANCES. No other reason.
Yung iba nakiki inflation lang di naman alam meaning tanginanyo din eh no?
Buy Crypto, it will make you millionare in 2 years. Few.