I'm off to Philippines in July so thought I would get some money in advance. I was surprised at the rate here. I went to a Bureau de change and was offered around 59php to the pound! The best I could find online was around 61.7. In Manila I can even get 65 at the airport and the best I found there was over 67. I once got ripped off with 62 and was annoyed about it afterwards. Yet even that was better than I can find here. I just thought it might be easier to get money beforehand, but think I will wait now. Unless... does anyone know if I can get a decent exchange rate anywhere in the UK?
Well the rate today is 66.16 It's been low 66's for quite a few day now. Doubt you will ever get 65 anywhere in Phils today. Seems to be sticking at that level for a while. The overall trend has been a slightly strengthening Peso
It's 66.7 so I would expect to get 64.5 or above in Manila right now, the rate used to be set weekly. I would not change a lot of money here I would always take cash and convert it over there, here you will just pay through the nose.
We've set up a PNB account last time we went out so as and when the rate improves we can send a lump sum.
That's what we've done, last time i sent some, the rate was very good, 5 years ago, waiting for the happy days to return.
Never gonna happen guys. This last 6 months a close of day price of 68 was fantastic, a couple of times there were intra-day prices above 70 but it was last August since it last closed above 70. I don't see us pulling back any advantage on the Phils in the next 10 years.
Think you could be right the Phils are experiencing their boom period at the moment. Good for them (well the wealthy ones anyway) and bad for us.
The pound does not go very far now, still have to finish building our house in the Phils, thats going to cost a lot more.
You're right there Jim. I always based my worst case scenario for moving over on P50 to £1 It's getting closer step by step. Looks like I might need to re-evaluate my likely lifestyle. Might even have to cut down on my wine
Yeah the problem Peter is that it has no reason to stop there at 50 peso it could go to 40 peso or 30 peso you never know, in Philippine terms commodities like first world toys will become a lot cheaper, for expat's our pensions will barely get us through the week. I've given up on the idea of being able to ever stop working, I expect if I am still alive and kicking I'll be working at something aged 70 and over, by that time Ana will be getting older too but she will probably have to be working as well.
Yeah, at the time it will be relative costs of living but the decider would probably be the NHS as while it may not be what it is today it will still not have been fully dismantled in that time scale.
The UK and the Phils may have swapped places by then. The Uk could be 3rd world developing and the phils a world market leading. Wealthy filipinos would be coming to the UK to live in cheap coastal towns like Sandbanks, Dorset or London!!! Their little peice of paradise
If anyone is going over to Phils soon and don't have any Pesos, maybe I can help out ? I brought a hellova lot of Pesos back home from my last trip as I made a miss-calculation over there while planning to renovate our house. I'd be willing to sell some (not all ) to anyone who might be going over for their first time and needs some to get from airport to your hotel and get you started. (not looking for any profit, just normal rates ) Jonny
Erm if you mean you brought home more than 10,000 peso, then you do realise that you quite seriously broke Philippine law when you left? There are limits on the amount of local currency that you can take out of the country, or take into the country as well. There are also restrictions on the amount of foreign currency that you can take in or out. to British Filipino by the way
Well it looks like I broke the law , don't tell will you ? I'd normally just take it back next time we go but I don't think we will be going back for the next 2 years (mind, we've been saying that for 5 years and we always end up going twice a year ! ) Just offering as I now how frustrating it can be trying to organise things when you first step off the plane (got to pay the 'helpers' at the airport you know)hehe. Actually, I haven't got THAT much,..but enough to help a few folk on their visits. Thanks for the welcome, good forum . Jonny
