What to do with your US Dollars

By Randell Tiongson on October 12th, 2010

The Philippine Pesos remains strong as compared to the US Dollars. As of 10.11.2010, the official exchange rate was P43.43 : 1 USD as per the PDS.

The US Dollar has lost so much value against other currencies, including our peso. You can recall that the USD used to be as much as P54 to P55 to a Dollar not too long ago.

Is it time to dump all your US Dollars? Should you forget about that currency?

Let’s hear your thoughts. Post your comments on what you think. Let’s make this blog interactive for this post. Thanks!


16 thoughts on “What to do with your US Dollars”

  • It depends on your objective. If you plan to retire in the US, then you should start accumulating at these “cheap” levels. If you plan on staying here, why bother with FX volatility. I wouldn’t buy it right now as a means of investment or speculation of it appreciating again (I already got out while it was Ps47).

  • I find myself buying more of this currency now for travel funds. My thought is we can’t rule out the dollar just yet after all its still an international currency. But is it a wise investment on my part?

  • if you have lots of it then keep it. No use selling it now since it already lost 10% of its value. Buy more dollars next year. Eventually it will go up once peso starts going down. Just be sure you are diversified=) Just my opinion=)
    (P.D. buti konti lang dollars ko! haha)

  • Dump my USD before the year ends as the seasonal spikes in the Peso occurs. Then, when it starts to weaken, accumulate again. Yesterday’s Forex (from Friday) was P43.95:$1.00 at the money changer.


    Is the world economy still dependent on the USD as a global currency? Or do you advise shifting to Euro or something else? The average Juan dela Cruz (like me) would usually “go with the flow,” so to speak.

    Have a happy week!

  • I think the dollar will never recover if quantitative easing in the U.S. will continue.

    With this scenario, I’d rather sell my dollars as soon as I get them. And split it into gold and peso.

    If a douple dip recession comes true, the dollar will further lose value. Gold will appreciate and I would have the option to repurchase dollars with pesos to invest in good US bluechips like Google and Apple in anticipation of the eventual recovery from double dip recession.

  • The US dollar has nowhere to go but down. With continued “quantitative easing,” the US FED will destroy the value of the dollar. Also, the US government is determined to devalue its currency thinking that it will provide adequate impetus to its’ economy by increasing exports.
    The currencies of other developed nations (Japan, UK, Euro etc) will not fare any better–in the long run. Their level of sovereign debt is worse compared with the US (as a percentage of GDP). They too, are actively devaluing their currencies in an attempt to boost exports. Everybody is adopting a “beggar-thy-neighbor “policy.
    I think, the currencies of the “asian tigers” are a safer bet. Singapore, Malaysia, Indonesia, even the Philippines are countries that are better positioned for the future as their economies do not have the “structural” misgivings of the developed economies. However, in my experience, in these times, nothing beats commodities especially gold and silver.
    Just my 2 cents worth,

  • I sold my dollars early this year at P46/ when a friend tipped me last year that its value is going down. I thought I made the wrong decision since it strengthened a bit after that but now, I’m patting myself at the back. I think that the US will not recover economically even next year. The economy is so unstable that the repercussions are far and wide, and the Americans are still reeling from unemployment, loss of homes, and unwise government policies. Let’s enjoy this low dollar value while we can. And continue to trust in our Almighty from whom all good things come from (and whom a lot of Americans have forgotten or abandoned).

  • I guess this shows that the US is losing its influence in global economy. Maybe it’s time to look at the so-called emerging economies or emerging superpowers.

  • Yes. Emerging markets like the Philippines.

    One sector to look out for are the U.S. companies that earn revenues in non-US dollars but report them as USD. And all the more those who manufacture outside the U.S. Examples are Philip Morris (PM) and Intel (INTC) . A weak dollar will mean more revenues for them when reported in U.S. dollars.

  • What if you earn dollars but live in the Philippines i.e. OFWs?
    In my own opinion, there is nothing you can do except pay your debts quickly which should be also in dollars. This way you don’t lose anything while enjoying an increase in your income.
    I also buy gold when the greenback is going down, this is another way of strengthening your it. That’s why I believe in the saying “In any tragedy comes an opportunity”.

    My 2 cents

  • The dollar has no way but down. With the massive debt of USA, and the idea of printing more dollar to pay creditors will result to inflation. Also, there are countries already shying away from the dollar. Another is the impending end of America’s superpower status. It is the confidence in the dollar that keeps it afloat. Once the confidence erodes, so does the value of the currency…

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What to do with your US Dollars