Strong Peso
October 2, 2007 — PeterThe Peso has entered the P44 band yesterday closing at P44.85 to a US Dollar.
I dread the coming months for our OFW families, exporters and inbound tourism industry players.
The French banking giant BNP Paribas forecasts the Peso to end the year at P43. It moreover sees the Peso catching up with the surging Thai Baht and go as much as P37 by next year and P30 by the end of 2009.
Oh well, I believe this is too optimistic. Remember the other end when Lucio Tan predicted that the Peso will exchange at P100?
October 25, 2007 at 4:06 pm
Peter,
Strong peso riding on a weak dollar produces nothing. Strong peso that does not come from productive effort will not help us. It is about time we move away from the IMF-WB prescribed float and peg the peso at, say, 45/1 and get to work. OFW’s and exporters are in a terrible mess. Maybe you should sponsor another resolution urging reforms of the BSP policy.
Regards.
Chito
October 26, 2007 at 8:09 am
Yup Chito. No less than PLDT’s MVP has joined the chorus for reforms in the currency exchange policies of the BSP.
The strong Peso does not reflect a strong economy; it is the US Dollar that is weak.