If you’ve been reading about the foreign exchange markets long enough, you know that forecasting where the peso will end up, say, at the end of the year is futile. I daresay the foreign exchange markets is as fickle, or even more so, than the lady next to you and as temperamental as the toddler next door!
During the height of the Asian financial crisis in 1997 when the peso-dollar rate was the staple story in business pages, I spent so much time tracking the foreign exchange markets that one night, I woke up after a nightmare mumbling “The peso! The peso!”
That can happen to you when you wait for hours until late at night sprawled on the floors of the Bangko Sentral ng Pilipinas just to get first crack at what the Monetary Board members talked about. 
But, hey, it’s fun to guess where the foreign exchange rate will go! So here’s an offer. Push that comment button and publish in MoneySmarts your fearless forecast for the peso-dollar rate by the end of the year. The one who comes closest and sends his forecast fastest will get a free personal finance book for Christmas. :-)
What do you say?
A worker at the Philippine central bank recovers spilled bundles of 100 peso notes from the stacking machine at the currency production plant in Manila. (AFP PHOTO ROMEO GACAD)
This photo taken 02 September 2003 shows an inspector checking freshly stamped 25 centavos coins at a stamping machine at the Central Bank’s currency and minting plant in Manila. (AFP PHOTO ROMEO GACAD)
September 27th, 2007 at 1:14 pm
P44 to a dollar
September 27th, 2007 at 12:47 pm
here’s my guess: 43.75
September 27th, 2007 at 12:21 pm
Sorry! off topic.
Just want to ask salve and everybody else whats your opinion on MLM?
What about this new MLM company JC Spice. And i recently known that the same people behind 1st quadrant like the tactacan-defensor are behind this company.
Would you advice people to go into this kind of bussines?
September 27th, 2007 at 11:49 am
Yeah I agree. Guessing the exchange rate is as erratic as a lady’s mood. But since at stake is a free personal finance book, I’d likely take my chances. 1 USD = 45.5 PHP +/- 0.5%
September 27th, 2007 at 10:21 am
this is fun!
I say eop exchange rate is at 43.50