Wednesday, December 05, 2007

Citigroup sees peso at 37.50:$1 in ’08 is not only me. Even the experts, Citigroup for one, agrees with my forecasts. My earlier post titled 2008 Predictions and Forecast last November 22, I said:

1. The Peso will reach 35 to 38 to the dollar by December 2008.
2. More OFWs will go abroad but will ask for higher salaries in dollar terms, many will return to the Philippines.
3. Chacha will be back, and opposed. No success in sight for Chacha. Instead, positioning for 2010 general elections will start mid of 2008.
4. The economy will continue improving, more investors will come in.
5. As usual the GMA administration will be accused of corruption from all sides. Indeed corruption will worsen in 2008.


Today, it really is no brainer. The peso broke into the 41-per-dollar level during trading last Wednesday, with an intra-day high of 41.99 before closing at 42.03 to the dollar.

How much was it 6 weeks ago? My Post last October 23: Where is the Peso now, and others I said: The Peso today is at 44.115, maybe before the week is over, it will reach and firm up at 43 something. And will reach 41 by December.

So? Let us wait next week, where will it be.