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John M
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today's (Monday the 22nd) Peso exchange?
Wells Fargo in the U.S. is quoting 15.97 to the dollar. Anyone with firsthand knowledge of today's rate at San Ysidro, or Calexico? Or maybe wait to
Ensenada?
John M
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Bajazly
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Yeah WF is just screwing you. Exrate.com is saying 17.15 today which is up from previous weeks. Gas stations here in San Felipe are back up to 16.70.
WF blows as usual.
Sorry, no first had info at the border, just an observation.
Believing is religion - Knowing is science
Harald Pietschmann
"Get off the beaten path and memories, friends and new techniques are developed"
Bajazly, August 2019
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AKgringo
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I used my Wells Fargo card at a Banamex ATM in the La Paz Walmart today. I declined the rate of exchange offered, and withdrew 6,000 pesos.
Even with the ATM fee and IVA added, I only paid about six dollars US more than the international exchange rate. I am pleased with that outcome.
$349.84 VS $355.89 charged to my account.
[Edited on 4-22-2024 by AKgringo]
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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mtgoat666
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Quote: Originally posted by John M  | Wells Fargo in the U.S. is quoting 15.97 to the dollar. Anyone with firsthand knowledge of today's rate at San Ysidro, or Calexico? Or maybe wait to
Ensenada?
John M |
banks like wells fargo usually poor xchange rate. always a better deal at money change at border or withdrawal from an ATM in Mexico.
in san ysidro i recommend "Baja Mex" on E San Ysidro Bl, 2 blocks SE of 805.
Woke!
“...ask not what your country can do for you – ask what you can do for your country.” “My fellow citizens of the world: ask not what America
will do for you, but what together we can do for the freedom of man.”
Prefered gender pronoun: the royal we
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AKgringo
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More about Wells Fargo
My local W.F. in Grass Valley used to keep Pesos on hand, so despite a poor exchange rate, it was worth it to me to hit the road with a few thousand
pesos in my pocket rather than depending on finding a cambio open where and when I arrived at the border.
They no longer do that, so I tried another W.F. in Yuma when I got close to crossing. I found out there that the official policy of the entire chain
discontinued holding foreign currency in their vaults, and it is now available only by request and a few days notice.
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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David K
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Never get pesos at U.S. banks... Casas de Cambio, near the border, or the Costco in Chula Vista money exchange window, are where I have been happy
with the rates.
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chatolj
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Ensenada last few days: mostly between 16.10 and 16.25
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StuckSucks
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surabi
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That's the mid-market rate, not the rate you get when you exchange currency.
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AKgringo
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Timing makes a difference
I paid for the dental work I am having done right now with a US Visa card, but my payment was rejected by the card carrier because of potential fraud.
It took a few days to verify that everything was legit (mostly due to communication difficulty) and by the time it cleared I saved fifty dollars over
the first submission due to a bump up in the Dollar value.
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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JDCanuck
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Forex rate at present is 16.9920, which is significantly better than a week ago when it was under 16.5. Offsets will vary depending who you use to
exchhnge your money.
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msteve1014
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picking up pesos at a U.S. bank is the worst rate you can get. wells fargo's rate at an atm is fine. they will all be a little different, but not much
that i have seen.
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ftrphb
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16.6 today in Ensenad. Always a small bit higher in San Ysidro. Santander ATM wants 15.85. the dollar has lost 26% of it's value over the last
three years and three months. Thanks FJB.
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lencho
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Has the dollar gotten weaker internationally, or is it that the peso has gotten stronger?
Yeah, it kinda sucks for those living off a fixed income in foreign currency (i.e. US expats in Mexico), but isn't it good for the Mexican majority?
"I can normally tell how intelligent a man is, by how stupid he thinks I
am."
"...they were careful of their demeanor that they not be thought to have opinions on what they heard for like most men skilled at their work they
were scornful of any least suggestion of knowing anything not learned at first hand."
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surabi
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"but isn't it good for the Mexican majority?"
Considering that one of the major economic sectors in Mexico is tourism, if tourists get less pesos for their dollars, and tourism goes down, no, it
isn't good for those who work in the hospitality industry, and other jobs which benefit from tourism.
It also isn't good for Mexicans whose relatives send them money from the US.
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lencho
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| Quote: Originally posted by surabi | Considering that one of the major economic sectors in Mexico is tourism, if tourists get less pesos for their dollars, and tourism goes down.
It also isn't good for Mexicans whose relatives send them money from the US.
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Interesting points. 
I honestly have no idea how much attention tourists pay to variations in the exchange rate; it's never been a factor in my own
decisions to head to Mexico.
As for the remisas, dunno; according to this article, they're currently at about 4% of the GDP, so some variation there doesn't seem like it'd have a huge impact on the majority
population. (?)
How many of your Mexican neighbors do you know that receive a substantial part of their income from folks working in the U.S.?
Edit: FWIW, per this article, some 2% of Mexican families live off of remisas.
[Edited on 4-24-2024 by lencho]
"I can normally tell how intelligent a man is, by how stupid he thinks I
am."
"...they were careful of their demeanor that they not be thought to have opinions on what they heard for like most men skilled at their work they
were scornful of any least suggestion of knowing anything not learned at first hand."
Cormac McCarthy, All the Pretty Horses
"Be kind, be patient, help others." -- Isabel Allende
"My gas stove identifies as electric." Anonymous
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JDCanuck
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From what my Mexican friends in Baja are telling me, they have experienced no benefit from the USD/Peso exchange rates. I surmised it was absorbed
within the higher inflation they would have seen otherwise. The government debt levels in Mexico have been kept quite low relative to what we see
north of there. Long term this will have a very large impact on currency valuations. Or...if you believe in Magic Money Tree economic theory, debt
levels are meaningless.
[Edited on 4-24-2024 by JDCanuck]
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mtgoat666
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peso has been stronger because manufacturing investment is doing well with post-supply-chain-schock nearshoring of manufacturing, high remittances,
and mexico's monetary policy keeping interest rates up.
really not much to do with USA or "FJB" (a childish term used by numbnuts knuckledraggers)
Woke!
“...ask not what your country can do for you – ask what you can do for your country.” “My fellow citizens of the world: ask not what America
will do for you, but what together we can do for the freedom of man.”
Prefered gender pronoun: the royal we
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surabi
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| Quote: Originally posted by lencho |
How many of your Mexican neighbors do you know that receive a substantial part of their income from folks working in the U.S.?
[Edited on 4-24-2024 by lencho] |
As far as I'm aware, none of my Mexican neighbors or friends do. But I live in a thriving little touristy beach town, where most of the Mexicans seem
to do well and you don't really see any of the locals living in poverty unless they're drunks or drug addicts who can't hold a job.
I always figured there would be more of those remittances being received by folks living in the kind of areas where there wasn't much work and what
work there is pays Mexican minimum wage, not the 100+ pesos/hour that housecleaners and gardeners get paid where I live.
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cupcake
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| Quote: Originally posted by John M | Wells Fargo in the U.S. is quoting 15.97 to the dollar. Anyone with firsthand knowledge of today's rate at San Ysidro, or Calexico? Or maybe wait to
Ensenada?
John M |
I crossed into TJ from San Ysidro on the 22nd. The rate at San Ysidro was 16.3 and much the same at places in downtown TJ, where rates are found
between 16.0 and 16.4. My hotel in TJ is taking the US dollar in payment at 16.5
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