Updates from February, 2017 Toggle Comment Threads | Keyboard Shortcuts

  • lv on February 20, 2017 Permalink | Reply  

    Peso hits 50 to a dollar 

    This could be the best time to go to the Philippines for a vacation. Your dollar would go a long way with the current exchange rate. However, this might not last long as exchange rates fluctuate daily.

    Article Source: The Manila Times

    DRIVEN BY DOLLAR DEMAND FROM CORPORATES
    Peso hits P50:$1, weakest in 10 yrs 0
    BY MAYVELIN U. CARABALLO, TMT ON FEBRUARY 18, 2017 BUSINESS

    CORPORATE demand for dollars weighed on the Philippine peso on Friday, driving the local currency to close at P50:$1, its weakest in over 10 years.

    The local currency softened by 3 centavos from P49.97:$1 on Thursday. It opened at P49.94 to $1, before trading between P49.90 and P50.00 against US currency and lodged its weakest closing since it couched P50.12:$1 on November 16, 2006.

    “Importers appear to have had a more significant-than-usual demand while the regular sellers were not as active in today’s trading session,” Bank of the Philippines Islands (BPI) Vice President and lead economist Emilio Neri Jr. said.

    “Demand for USD throughout the week had pressured PHP leaving some traders to cover shorts before the weekend. Philippine specific factors such as recent political developments may have contributed but it is not likely to have been quite significant,” ING Bank Manila senior economist Joey Cuyegkeng, on the other hand, said.

    The central bank noted that besides the prospects of an interest rate hike in the US next month, there was higher demand for dollars from corporates.

    Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said the central bank continue to see negative market sentiment dominating the strong Philippine market fundamentals.

    “We should see market reacting to news that OFW [overseas Filipino workers]remittances remain resilient and growth prospects remain very positive at the back of strong consumption, investment and public expenditures,” he said in a text message to reporters.

    In real terms, the peso remains competitive and the BSP will continue to monitor pressure from a weak exchange rate even as the exchange rate pass through to domestic inflation has gone down in recent years, the BSP official noted.

    “There is no substitute to constant monitoring and surveillance for any possible risks in the horizon,” he said.
    ING’s Cuyegkeng said the peso could stay under pressure although seasonal inflows in March could lend a bit of strength.

    “Retaining the P50 resistance early next week would be important. A convincing break above this may push PHP to the next target of P50.60,” he said.

    “We are reviewing our forecast for end of the first quarter and for the rest of the year. We had expected PHP to trade around P49.70 and within the range of P49.50 to P50 in the first quarter,” he added.

    Cuyegkeng said a faster pace of US Fed tightening and reflation policies of the new US administration to be announced in the next 10 days or so would likely affect forecasts.

    For the year-end, ING expects the local currency to weaken to P51.50 to P51.80 per dollar.

     
  • lv on February 18, 2017 Permalink | Reply  

    Singkamas 

    It is singkamas season again in Tagudin. You could see singkamas vendors lined up along the highway between Tallaoen and Bimmanga by the cemetery at this time of the year. Singkamas is locally grown in this part of Tagudin. Along with the locals, you could see travelers stopping by to buy singkamas along the highway. The Singkamas or Jicama season in tagudin usually starts from mid February to sometime in March. Singkamas is a good source of dietary fiber and certains vitamins such as vitamin C and B-complex. This edible root is also a good thirst quencher during the warmer months in the Philippines for it contains a lot of water.

     
  • lv on February 17, 2017 Permalink | Reply  

    50th Anniversary Reunion of TGCHS Batch of 1967 



    TGCHS Batch of 1967 50th Anniversary
    Seaside Park, Dardarat, Tagudin, Ilocos Sur
    February 14, 2017

    CLICK HERE TO VIEW THE REST OF THE PHOTOS.

     
    • lv on February 17, 2017 Permalink | Reply

      Thank you TGCHS for inviting me to your reunion. Nice group of people and great food too catered by manang Vangie Acosta of Barangay Del Pilar. More power to you TGCHS Batch of 1967.

  • lv on February 13, 2017 Permalink | Reply  

    Santa Lucia Catholic School Sixth Grader’s Retreat, Seaside Park 

    I just want to share a photo of the Santa Lucia Catholic School sixth graders at their one day retreat in Tagudin at Seaside Park.

    Mass Service for the Santa Lucia Catholic School sixth graders one day retreat at Seaside Park in Dardarat, Tagudin with Father George Tabangcura, Sister Pura Camandono, Sister Marife Gonzales, Sir Emil Bunnol and Sir Andrew Joven.

     
    • lv on February 13, 2017 Permalink | Reply

      Thank you Sister Pura, Sister Marife, Father George, Sir Bunnol and Sir Joven for inviting me attend the mass service. It was also nice meeting you all.

  • lv on February 13, 2017 Permalink | Reply  

    Naragsak nga Aldaw ti Puso – Happy Valentine's Day 

    Happy Valentine’s Day to all our kababayans out there.
    Naragsak nga Aldaw iti Puso kadakayo amin nga kakaillian tayo sadino man a paset iti lubong iti ayan yo.

     
  • lv on February 3, 2017 Permalink | Reply  

    Tinubong 





    Just to share pics of a “tinubong” that was brought to me by a friend from Tagudin. It was a left over from the “panagtitinubong” they have this year in Tagudin. This has to be one of the best I had in awhile. It is a tradition for Tagudinians in Tagudin to make “tinubong” every January. It serves as an offering during the Thanksgiving Mass for good harvest. It actually tastes like “tikoy” a certain type of rice cake that the “Tsinoys” (Chinese-Filipino) in the Philippines make during Chinese New Year. The difference is tinubong has coconut in it.

     
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