Wednesday, April 19, 2006

Its not just me

In my earlier post, I predicted 35 to 40 pesos to the dollar by December 2006. Its not just me, although others are predicting 47 to 48. Well, we will find out 8 months from now.

Here, again, let me quote a news from PDI.

Top traders see peso strengthening to 48 to $1
Posted: 1:22 AM Apr. 20, 2006

Doris C. Dumlao
Excerpts are:
Jose Emmanuel Hilado, president of the Philippine chapter of ACI, a Paris-based association of currency traders from 65 countries, said that when the "political circus" had been settled and constitutional reforms set in motion, the peso could rise further to 48-49 to the dollar.

"We used to be called the 'Argentina of Asia' because we were following Argentina's pre-default debt path," said Hilado, who is treasurer of Banco de Oro Universal Bank. "Now, we have shaken that tag off and emerged as the new darling of the global financial market. Everybody is very upbeat on the Philippines."