for those who are like me who is always taking note of the exchange rate of yen vs. other currency ( most especially vs. php and usd and nzd ), today is one of the best days to buy a dollar, to sell your nzd and not to send money back home to pinas.
it's around 114 yen to buy a dollar which used to be something like 118 yen to a dollar ( but it has been low because of the mortgage problem in the us), while nzd dollar costs around 87 yen to buy but now it's more than 89 yen and the saddest of them all, yen to peso is .3680 %$#!!&##!! yesterday it was just like 0.3710. i am not an expert in forex or in anything related to predicting the trends. i am just a mere spectator who just loves looking at everyday exchange rates.
oh.. i wish i had a money to spare to buy favored currencies.
so i can be one of the white collared professional gamblers in town!
the bottomline is, don't send money yet to pinas if you are in japan...
slicing the pie, says that nzd is strong against yen, usd is weak against yen, jpy is also weak against php. so is it correct to say that pinas' economy is getting better and the people are experiencing better life, or is it just because of the flooding money from the overseas pinoy workers sent home to pinas?
i don't know. i am really confused if i would be happy if peso is strong .. i guess i will be happy if php is strong but i will be happier if jpy is stronger than php. yep, indeed a selfish note. well, tomorrow is another day. another rate. another trend.
p.s.
please let me know if my analysis is a trash.
Wednesday, November 07, 2007
money market
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4 replies:
No your analysis is not trash but I was just wondering -- why include NZD?
The dirham-peso exchange is also getting worse. I am happy that it might mean the Philippine economy is getting better but I would be happier if people in the Philippines is ACTUALLY feeling their lives are better -- and i highly doubt that!
is it a good time to send USD to the philippines?
my interest in nzd started when shinsei bank offered a 15% (with bonus rate that time)annual rate on time deposit. nzd was performing really well this year and it is predicted that it will continue till the year ends, but still, this is just a prediction.
yep i also wish that most of the people back home could feel some improvement in their everyday lives.
charm, based on today's xchange rates of pnbtokyo and citibank japan, your usd is more valuable to send as is than converting it to jpy first then to php. citibank is buying usd now at 111.9, while pnbtokyo is buying jpy at 0.375 and usd at 42.454. so if you have 10usd, it's value in peso is 424.54 but converting that to it's value in jpy first then to php, it would just be 419.625.
if it is a good time to send USD now to pinas, i am not really sure. if my way of thinking is correct, i predict that php will be stronger because christmas time is near. and that means, all "padalas" will keep pouring in to pinas. more supply of usd or any foreign denomination, means lower value. so i am hunching that it is better to send in money this month than next month.
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