Peso 54.8

[outwest77]

54.8 to the Dollar, I remember last april it was 50.5...........
Sad for the phils,

[Nathan]

... in response to Peso 54.8, posted by outwest77 on Mar 11, 2003

  Ultimately the Philippines may be forced to choose between national pride and survival, and like Panama and Ecuador, choose to use the dollar as their regular currency.
It would be a good thing perhaps.

Nathan

[Jun Encarnado74]

... in response to Peso 54.8, posted by outwest77 on Mar 11, 2003

IT IS CURRENTLY 55.5 PESOS TO A BUCK! (AS WE SPEAK)....

[outwest77]

... in response to Re: Peso 54.8, posted by Jun Encarnado74 on Mar 12, 2003

Latest i Saw is about 55.1,still its way down, i predict 60 in 6 months,

[Nathan]

... in response to Peso 54.8, posted by outwest77 on Mar 11, 2003

  While both Thailand and the Philippines were hit hard by the 1997 Asian financial crisis, their currencies have since diverged in value, with the Baht actually recovering some value from it's worst, while the Peso continues it's slide. Thailand instituted extensive structual reforms, whle the Philippines has not, and as a destination for investment it has even further deteriorated. The entrenched
Manila elite could care less it seems. If one reads "The Mystery of Capital" by Hernando DeSoto, the roots of a lot of the economic rot in the Philippines seem obvious.

[Ray]

... in response to Peso 54.8, posted by outwest77 on Mar 11, 2003

I remember when it was 3.85/$

It's been sinking fast since the U.S. military pulled out... :-)