That's a two-year graph of the peso's exchange rate against the dollar-- from January 2007 to January 2009 (thanks Yahoo! Finance).
Take a look back at analyst forecasts for the peso in the past two years and compare it to the actual results in the graph above:
- Standard Chartered Bank: Peso is also expected to weaken to an average 50 to the dollar this year. (Jan. 2007)
- Standard Chartered Bank: Peso will weaken in the second quarter due to poor investor sentiments and election anxiety. (Feb. 2007)
- Valentino Sy: P38 at end-2008. (Oct. 2007)
- BSP Gov. Amando Tetangco: Peso expected to pick up strength in 2008, hit levels above P40 to the US dollar, probably at P38 to P39 to $1 (Nov. 2007)
- BNP Paribas has also predicted the peso to rise to 37 this year and further to 30 next year. (Dec. 2007)
- Ex-BSP Gov. Jose Cuisia Jr. expects the peso to firm up at 38.50-39.00 to the dollar by yearend. (Jan. 2008)
- JPMorgan: P38.5 by yearend. (Jan. 2008)
- Citibank: "It will be 35 to $1 by yearend and we’re looking at 39 before the (first) quarter is over" (Feb. 2008)
- Standard Chartered Bank: Expects the peso to hit P43 against the dollar by yearend
- Citibank: Projects the peso to end at 45-to-$1 level this year. (Sep. 2008)
Perhaps one of them should predict that the economic crisis will never end.
And that I will never win a million dollars.