Well, it took 3 short months for the Piso to go from 40 to the dollar to 45. That's really great news for anybody in The Philippines who gets their money from America. I said here that it would be overly-optimistic to expect the Piso to hit 50 before the end of the year... but that it might hit 45 with a little luck. Heh: It's so nice to be wrong in this case. I've gotten a 10% raise in my salary since moving to the Philippines, and I am quite happy. Now I just hope it lasts.
5 comments:
Spend it wisely,oh wise one....
Hard to believe only 2 years ago it was over 40:1 for the Baht.
Then again gas was under $2.00 a gallon 3 years ago......
Well, Dago, as soon as the Thai government is done wasting it's foreign reserve selling dollars and buying baht, you'll see it keep rising. I would imagine it will get up to 37 or so before the end of the year if it holds consistent with all the other currencies that are moving in this direction.
Selling dollars to buy baht? I would think one should be buying dollars with baht right now.....
No, Dago. When you sell dollars, you are putting dollars into the foreign exchange market, which makes them more common, and therefore less valuable.
Inversely, when you buy baht, you are removing baht from the foreign exchange market, which makes them more rare, and therefore more valuable.
Jil,
Do you find that your money goes farther there?
I mean, with a 10% raise not withstanding...
What costs are less than Thailand?
What costs are more?
Thanks for the info...
Post a Comment