The reason why is because I'm buying a car worth around 2.3M php, which is around $48k right now, given the current exchange rate, which is Php48 = 1 USD.
My whole savings account is in U.S. Dollars.
If the dollar was at 52 pesos to a dollar, that would bring the total down to $44,230. Thats a big difference of $3,500!
How will the Philippines exchange rate be after the May senatorial elections?
2007-04-17 05:16:51 · 3 answers · asked by Black J 1 in Social Science ➔ Economics
If you want to know what the market as a whole thinks, google "currency futures" and see if you can find a site that lists rates for php/usd.
Ask a different question: if there was no risk of the price falling (or rising!) would you be willing to buy now at current prices? Would you be satisfied with your purchase now?
And what are your odds of outguessing the market?
2007-04-17 10:52:56 · answer #1 · answered by Bjorkmeister 5 · 0⤊ 0⤋
The price of a car in dollars will depend on the exchange rate of the dollar with the country that makes the car, not the value of Philippine currency. Car dealers import cars and the local price will adjust to exchange rates with the country of origin.
For example: US car maker prices a car at $40,000 wholesale The Philippine car dealer must pay $40,000, so he can not sell it for less than $40,000 + his business costs, or he will lose money. His exchange rate is the same as yours, so the car price converted to $ will not depend on the Php $ exchange rate.
2007-04-17 13:13:50 · answer #2 · answered by meg 7 · 0⤊ 0⤋
Spending money buying lavish production dinners, signs, buttons, posters, time on television and radio, vehicles, fuel, maintenance, etc. HAS to help the economy, to a degree. It gets money flowing in the PRIVATE SECTOR. Of course, this is the CAMPAIGN that is helping the economy. The election can result in help for or destruction of the economy as we have seen in recent history. It depends on who wins and what their policies are.
2016-04-01 05:47:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋