BajaNomad - What A Ride For The Peso

What A Ride For The Peso

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chuckie - 8-24-2013 at 04:36 PM

Thats my man....Jack!

DavidE - 8-24-2013 at 04:39 PM

"Heeeeeere's Johnnnnnnnny......................."

Prestidigitator and Economist = Synonym. With many of Mexico's largest companies "jip dip" in derivatives I can only wonder how this influences the stock market, and tipo de cambio internacional...

The slightest burp never mind upchuck and money flows northward like geese in March. € problems in Greece? hasta la vista baby. Small refinery fire in Aruba? Adiooos. A healthy banking and reserve system does not support or endorse such volatility.

Fascinating. Like I said before.

DENNIS - 9-18-2013 at 12:57 PM

At this momento:

12.6999

Chip Chip Chip Hammer Hammer...

DavidE - 9-18-2013 at 01:05 PM

All That New Billions Flowing In From Food And Medicine Taxes

"Give Us Enough Time We Can Spend Enough Of Your Money For The Good Of Us All!"

[img]http://www.xe.com/gen/charts/images/large/MXNUSD.png?1309181559[/img]

bajagrouper - 9-18-2013 at 01:22 PM

At this moment:

12.9687

DENNIS - 9-27-2013 at 06:58 AM

At this moment:

13.1327

chuckie - 9-27-2013 at 10:22 AM

I must be missing something....last nite when I went to bed, I had 2900 pesos in my wallet..checked this morning and it was the same..shoulda been more right?

DENNIS - 9-27-2013 at 10:25 AM

Quote:

Originally posted by chuckie
I must be missing something....last nite when I went to bed, I had 2900 pesos in my wallet..checked this morning and it was the same..shoulda been more right?

No telling what might happen while you're passed out on a bus stop bench. :lol:

Bob and Susan - 9-27-2013 at 10:31 AM

I took money out of the atm last Friday...

after all the fees I got 12.49
not too bad

Bajajorge - 9-27-2013 at 11:04 AM

As the exchange rate fluctuates the restaurants have got to go into their vast menu files to keep up with all the price changes. :biggrin:

DENNIS - 9-27-2013 at 11:14 AM

Quote:

Originally posted by Bajajorge
As the exchange rate fluctuates the restaurants have got to go into their vast menu files to keep up with all the price changes. :biggrin:

Menu prices only change in one direction. :lol:

MitchMan - 9-27-2013 at 12:26 PM

I am not too sure how the short term changes in the USD/MXN rate in favor of the USD affects the Mexican restaurant owners' one way or another, unless the prices of certain restaurant expenses change in the short term together with changes in the USD/MXN rate.

I suppose, even if restaurant operating expenses didn't go up, they may need to up their prices to generate more profits to cover their personal living expenses that my include commodities that do follow the USD/MXN fluctuations.

OR

Simply to garner more profits if most of their customers are Americans who will pay higher prices as the exchange rate favors the USD.

DENNIS - 9-27-2013 at 12:33 PM

Quote:

Originally posted by MitchMan
I am not too sure how the short term changes in the USD/MXN rate in favor of the USD affects the Mexican restaurant owners' one way or another,

It probably wouldn't unless they relied on goods imported from the states. Then, it would have an effect. Imported goods in stores here have fluctuating prices, but as I mentioned, they only seem to fluctuate upward. It's rare to see the peso price drop.

DENNIS - 10-3-2013 at 09:07 AM

At this moment:

13.25

Bajaboy - 10-3-2013 at 09:34 AM

Now it's 13.24

shari - 10-3-2013 at 09:42 AM

thanks for the heads up....I am actually liking my new DOLLAR account now as it means I can deposit dollars and then wait for the exchange rate is more favorable to transfer money to my peso account...silver lining eh!

DENNIS - 10-3-2013 at 09:55 AM

Quote:

Originally posted by Bajaboy
Now it's 13.24

Holy Cow. It's all over the board. :lol:

What may be a good point for the US economy would be if the treasury printing presses were shut down on furlough. Of course, it's probably easier to just deny those blown up kids from Middle East Hell their disability payments. They don't need any money anyway since they can't even walk into a store to spend it. :fire:

Bajaboy - 10-3-2013 at 10:38 AM

Quote:

Originally posted by DENNIS

Quote:

Originally posted by Bajaboy
Now it's 13.24

Holy Cow. It's all over the board. :lol:

Oh just wait until the default...all because a few cry babies can't handle the fact that a law was passed.....and upheld :fire:

DavidE - 10-4-2013 at 09:57 AM

Unless the Chinese insist on continuing to peg the Renminbi exchange rate (in other words devalue) against other world currencies, the dollar based US economy is going to go into hyperinflation inside 3-years. Some of you were not old enough to remember the heyday of Whip Inflation Now, when gasoline went from .35 cents a gallon to more than a dollar a gallon in just a few years.

Mexico IS NOT INEXPENSIVE NOW. The surcharge of 11% IVA on groceries and medicines means that EVERYTHING now is taxed. Prices go up, wages go up, and no way in hell is Baja California inexpensive anymore. The Mexicans are taking it in the butt. Manuel caused billions of dollars in damage and the federal PRI government goes online, texting my cellphone, newspapers, radio ASKING FOR DONATIONS. Right after the tax on food and medicine went into effect.

Yeah and for all intents and purposes Pemex premium costs 12.00 pesos a liter now. Three dollars fifty cents a gallon, and Magna and diesel is not far behind. My family is crying for me to come back to Michoacan, they cannot make it. God help the suckers who voted the PRI back into office. They have screwed every Mexican.

MitchMan - 10-4-2013 at 01:24 PM

It is unconscionable that an 11% tax hit on food and medicines. Unbelievably regressive and hurtful to the bottom 98%, especially the poor and to the whole economy.

It seems to me that the Mexican wealthy class sends their kids to US Ivy League schools, those kids go back to Mexico with cushy jobs in the Mexican government with a USA college diploma in hand and NO EXPERIENCE, then they start making stupid laws with either ignoring basic macroeconomics or worse, cavalierly ignoring it.

DavidE - 10-4-2013 at 01:55 PM

Mitchman for 98% of the Mexicanos the surtax is SIXTEEN PERCENT. The PRI is also trying to affix IVA for doctor visits. People with Seguro would pay 16% tax, in cash for each visit. What's next, a poll tax? Let's see, no tax if a person votes PRI and full boat 16% tax if they don't?

It's gets worse. It does look like the "Minimum Bank Balance" measure is going to go into effect for residentes permanentes. They're talking about 50,000 pesos minimum, but it is to take place in steps.

Next is to change the status of tax for the Bajas Californias so it matches the mainland. Establish a free zone, just like the rest of Mexico for CAR PERMITS and ban the ownership of everything but national cars for residentes permanentes. Exactly like on the mainland. They have got to do something with the FRONTERA cars and this is where the hints and tips vanish. Ismael seems to think Aduana is going to allow the changing of status of Frontera cars to Nacional but not USA cars nor cars from any other country. He seemed to smirk (this was over the telephone) when it came to the subject of fees. I guess the tax is going to be substantial. Foreign plated cars will be out-of-luck just like they are on the mainland. For tourists, the 200,300,400 dollar Banjercito deposit, car permit 180-day fee, and proof of FMM status will apply. I asked him if he had any idea where the "Line" will be and he said he did not know. (Maneadero perhaps?).

I've got to point out that at this point, all of the above is being "discussed". I would dismiss it, except the tax on medicines and food were not too long ago "being discussed".

The golden days are fading. I feel it in my bones...

God, what a shame.

DENNIS - 10-16-2013 at 07:53 AM

As we speak:

12.8779 to 1

Bajaboy - 10-16-2013 at 08:04 AM

Quote:

Originally posted by DENNIS
As we speak:

12.8779 to 1

I'm going to buy as soon as it hits 12.8781

DavidE - 10-16-2013 at 11:55 AM

The "kicker" is the FED USA keeps devaluing the dollar. Despite the smoke and mirrors of currency exchanges when the US dollar is suddenly worth less against a major percentage of world currencies, are you going to buy the story that all those currencies" are worth more"? Or choose Door Number Two: The dollar is worth less? The Chinese are going to track the dollar even if it means having the peso worth 1 to 1, or the Euro worth 10 to 1. They are latched tighter than a tick. We are their major trading partner and I smell a huge rat - like the USA selling our newfound shale crude oil to to China. If the host cannot support the tick, the honorable masses are going to start beheading the politburo members. So much for technocrat finance theory. Like communism, it looks good on paper.

DENNIS - 10-16-2013 at 12:36 PM

Quote:

Originally posted by Bajaboy

Quote:

Originally posted by DENNIS
As we speak:

12.8779 to 1

I'm going to buy as soon as it hits 12.8781

12.8640 right now.
Jeeezo...the dollar is in a disintegrating freefall as a result of congress giving us a temporary fix on fiscal disaster.
Ohhh well....things will fall apart again in a couple of months and we'll be back to normal.

MitchMan - 10-16-2013 at 07:35 PM

Quote:

DavidE
Mitchman for 98% of the Mexicanos the surtax is SIXTEEN PERCENT. The PRI is also trying to affix IVA for doctor visits. People with Seguro would pay 16% tax, in cash for each visit. What's next, a poll tax? Let's see, no tax if a person votes PRI and full boat 16% tax if they don't?

It's gets worse. It does look like the "Minimum Bank Balance" measure is going to go into effect for residentes permanentes. They're talking about 50,000 pesos minimum, but it is to take place in steps

Man, what are they thinking? It is so myopic and reflects economic/financial inexperience or gross naivete of their legislature. These sweeping measures, should they be imposed overnight, would be counter productive and even damaging, especially in the short run. It's like they have a bunch of careless brash yahoos running the country.

Having a checking account in Mexico is pain in the neck as it is. So many Mexican independent contractors refuse to use bank accounts, as a result, most if not all of the their income remains under the table...and the Mexican government wonders why they have a problem finding and income taxing the under the table income.

Their dumbasss solution is to impose large flat transaction taxes mostly affecting the lower end people to make up for lost revenue due to underground income not being taxed. If they would just lift up their heavy heads and look around at the their next door neighbor's (USA) banking practices, taxing authority audit practices they would see that easy use checking accounts and mandatory (penalized if you don't) accounting and record keeping requirements would go a long way in solving the most common type of underground hidden income tax loss. I guess they don't realize the quality audit trail that checking accounts provide.

It seems as though, when the government perceives a problem, they go after low hanging fruit types of simplistic gross solutions that hurt the wrong people and the economy itself.

And this dumbasss "factura" thing...I wonder what genius thought that one up?

[Edited on 10-17-2013 by MitchMan]

bajagrouper - 10-16-2013 at 08:53 PM

MitchMan states:

" These sweeping measures, should they be imposed overnight, would be counter productive and even damaging"

Like the PRI cares, do you remember the night 3 zeros went missing from the peso, I am sure it affected more people then than this tax will...

And another thing,why not wait until the law is passed instead of speculating what it will affect, there is nothing expats or tourists can do about it anyway...

[Edited on 10-17-2013 by bajagrouper]

IVA

captkw - 10-16-2013 at 09:51 PM

Instant value added...right !!!.....LOL :lol:

I rember the peso devalue well myself..as a young guy with a big pile of peso's and everthing Sooo cheap !! I was living the life...then there was only one(1) hotel between SJ and cabo..I used LOVE the green 10,000 peso note..made me feel like a rich guy...LOL :lol:

[Edited on 10-17-2013 by captkw]

My fifty centavo bill

durrelllrobert - 10-17-2013 at 10:45 AM

Quote:

Originally posted by captkw
Instant value added...right !!!.....LOL :lol:

[Edited on 10-17-2013 by captkw]

DavidE - 10-17-2013 at 01:48 PM

The Mexican government was ready REALLY REALLY READY to loot the energy sector by privatizing electrical production. Then California de-regulated and my Mexican neighbors and myself watched the massive rape on Mexican Television. The public was outraged. The politicians were going to take the proceeds and run.

CARLOS SLIME was conciliatory about improving TelMex, and reducing rates UNTIL his rabbi came back the PRI. The accommodating Slime is nowhere to be seen. For the next five years he has it knocked. Rural communities are STUCK with pitifully underpowered communications. Need a land line or internet in Bahia Asuncion? Good Luck. Carloss wants to be the first trillionaire in history. He'll never get there, but he keeps trying. It's nice when you are THE monopoly.

12.717468715 to the $

Howard - 10-19-2013 at 12:52 PM

Just got back from the bank ATM in Loreto and that is what I got when I pulled out 10,000 peso's, cost $786.32.

This is real time, not some web site.

DavidE - 10-19-2013 at 01:33 PM

Señor Howard...

Which bank? There seems to be a noticeable difference in tipo de cambio between BanaMex and BanComer.

Howard - 10-19-2013 at 02:39 PM

BanaMex on Salvatierra.

It would be interesting if some else posts a w/d at an ATM this weekend to see what they got.

DavidE - 10-19-2013 at 03:01 PM

I know in the space of 45 minutes, I saw 90 centavos difference in the tipo de cambio between BanaMex and BanComer ATM machines.

Howard - 10-19-2013 at 03:13 PM

Which one gave the higher rate? Was it over a weekend?

DENNIS - 10-27-2013 at 11:31 AM

Today------10/27/13

12.8795

DavidE - 10-28-2013 at 11:17 AM

The difference was on a Tuesday morning, around 10:00AM - 11:00. Banamex gave an 11 centavos less (lower) rate of exchange but charged 27 pesos for the transaction rather than BanComer's 77 pesos fee (since then I understand Bancomer has lowered their fee a little).

What is really warping the Peso Dollar exchange rate, is the Fed is frequently devaluing the dollar. Mexico is caught in a bind, if they let the peso's value climb too high, they risk losing a lot of trade with the US and Canada. The Chinese meanwhile have a death grip on the dollar. They cannot risk prices shooting up on goods and having trade severely impacted. Unemployed Chinese can pose a very real threat to eat the Politburo.

Where does this all end? Who the hell knows. We have legions of "speculators" who would sell their mother for a dollar. Coffee, orange juice, wheat, rice, electricity, it's all prime fodder for Ali Babba and The Forty Thieves. Mexican companies got badly burned when they tried fiddling in the derivatives market. CeMex went through some tough times and had to lay off a lot of workers.

Think this is a joke? The part about manipulation of goods and prices?

http://news.yahoo.com/blogs/technology-blog/russian-asteroid...

We're running out of oil and that apple "really" should cost eight dollars!

durrelllrobert - 10-28-2013 at 11:30 AM

Quote:

Originally posted by Howard
BanaMex on Salvatierra.

It would be interesting if some else posts a w/d at an ATM this weekend to see what they got.

ATM WITHDRAWAL - H S B C /H S B C ENSENADA, B. MX $464.70 (includes their charge for 6,000 pesos) = 12.912/$

motoged - 10-28-2013 at 11:42 AM

Quote:

Originally posted by DavidE
......CARLOS SLIME was conciliatory about improving TelMex, and reducing rates UNTIL his rabbi came back the PRI. .....

David,
I don't understand your reference to "his rabbi" ???? Can you please explain?

DavidE - 10-28-2013 at 12:42 PM

Carlos and the PRI are even closer than the PRI is to Televisa. All of the so-called "reforms" and consumer advocacy of TelMex stopped dead in its tracks once the Movie actress and her husband went to Los Pinos. The SCT was revamped and the chances of meaningful telephone competition went the way of 3 peso gasoline.

Slim has boasted (remember he is the epitome of Mexican MACHO) that he will do anything to become the richest man in the world. He doesn't even believe in investing in Mexico. Much of his money now is directed at the USA market. Un cerdo mas gordo. The Trac Phone market for instance.

Slim talks like an arrogant racist. He secretly mocks the USA (sends relatives to schools in Europe) and likewise his family shops at the best boutiques in Europe.

And the "government" the PRI has promised Slim no competition during this sexenio.

motoged - 10-28-2013 at 12:46 PM

David,
I still don't understand your reference to "his rabbi". :?:

[Edited on 10-28-2013 by motoged]

DavidE - 10-28-2013 at 01:27 PM

The PRI leadership guides him, they nourish him, they protect him. Maybe you are not familiar with the general term "Rabbi".

the term RABBI is used when an individual has assistance a lot of assistance from someone or something in power. They go to bat for someone constantly having them under their wing. Beat cops use the term to describe a Lieutenant or Captain that is hustling their advancement through the ranks.

I had a delagado federal as a "Rabbi" when I went after my citizenship. Ismael coached me, made telephone calls to reduce waiting times, and push paperwork through the bureaucracy. How did this man come to adopt me? I suppose it was when we had hours long discussions about the history of Mexico and how misunderstood Mexico's history is in the world. One day out of the blue he said, "You really should apply to the SRE to become a citizen of Mexico".

Becoming a citizen means adopting a lot of drawbacks as well as advantages. If a naturalized citizen is accused of a crime, they cannot run to their local consulate and get the same level of "protection" that an extraneous would. The Government would claim correctly (He is a lawful citizen of Mexico). The citizen must maintain an RFC financial accounting, can not legally drive a motor vehicle with extraneous license plates, use a non Mexican driver license, and is subject to laws about slander and provocation that an extraneous cannot be prosecuted for - the violators are merely expelled from Mexican territory under threat of a suspended prison sentence - return and you go to prison. Dork the Bounty Hunter for instance can never enter Mexico again. But my new casita in Michoacan is being built on my own property 100M2 in the so-called federal zone. My mango, cocos, limones, mamey, and platinos are my orchard and I am a voting member of an ejido.

All because I had a RABBI.

motoged - 10-28-2013 at 02:19 PM

Quote:

Originally posted by DavidE
The PRI leadership guides him, they nourish him, they protect him. Maybe you are not familiar with the general term "Rabbi".

the term RABBI is used when an individual has assistance a lot of assistance from someone or something in power. They go to bat for someone constantly having them under their wing. Beat cops use the term to describe a Lieutenant or Captain that is hustling their advancement through the ranks.

I had a delagado federal as a "Rabbi" when I went after my citizenship. Ismael coached me, made telephone calls to reduce waiting times, and push paperwork through the bureaucracy. How did this man come to adopt me? I suppose it was when we had hours long discussions about the history of Mexico and how misunderstood Mexico's history is in the world. One day out of the blue he said, "You really should apply to the SRE to become a citizen of Mexico".

........All because I had a RABBI.

David,
You have an interesting way of defining the word:

http://en.wikipedia.org/wiki/Rabbi

I have only heard the word used in a context of religious teachings....not in regards to how lawyers generally operate or how beat cops refer to role models....in fact, your utilization doesn't seem to demonstrate a respect for the teaching offered as much as the benefits gained from the efforts of others to resolve your legal challenges.

The Wiki link seems to try to demonstrate how the word has been used in non-religious contexts....but it is a bit of a stretch to separate the word from religious teachings.

Ya learn something everyday here.

vacaenbaja - 10-28-2013 at 11:26 PM

Looking beyond Wiki

http://dictionary.reference.com/browse/rabbi
see (5)

[Edited on 10-29-2013 by vacaenbaja]

motoged - 10-28-2013 at 11:44 PM

I did look beyond Wiki......and it appears that the "slang" use of the word is how D. applied the word.

Now, if you understand the word "slang" as presented by Merriam Webster:
"slang
noun \ˈslaŋ\

: words that are not considered part of the standard vocabulary of a language and that are used very informally in speech especially by a particular group of people
Full Definition of SLANG
1
: language peculiar to a particular group: as
a : argot
b : jargon 2
2
: an informal nonstandard vocabulary composed typically of coinages, arbitrarily changed words, and extravagant, forced, or facetious figures of speech"

.... Or another definition:

slang (slng)
n.
1. A kind of language occurring chiefly in casual and playful speech, made up typically of short-lived coinages and figures of speech that are deliberately used in place of standard terms for added raciness, humor, irreverence, or other effect.
2. Language peculiar to a group; argot or jargon: thieves' slang.
v. slanged, slang·ing, slangs
v.intr.
1. To use slang.
2. To use angry and abusive language: persuaded the parties to quit slanging and come to the bargaining table.
v.tr.
To attack with abusive language; vituperate."

All in all, I have never, in 62 years, heard the term used as David has applied it, but the definitions of slang and rabbi seem to coincide in a disrespectful reference....which may have been David's intention considering the content of his missive.

It strikes me as being intended to be insulting.

tlalocs - 10-29-2013 at 11:33 AM

Quote:

Originally posted by durrelllrobert

Quote:

Originally posted by DavidE

For 1 peso you can have wild ride on one of these :lol:

Su GFE?

DavidE - 10-29-2013 at 02:09 PM

The word was not intended to be an insult. It is commonly used in many work places and even in the military when someone has an "usher" helping him. A "Rabbi" in that context indicates someone of influential administrative power, a guardian angel. Trying to twist this into some kind of accusation of me making an anti Semitic slur is trite, and beneath contempt. You should be ashamed of yourself. I've not got a racist or anti-theological bone in my body.

chuckie - 10-29-2013 at 02:12 PM

Davide You are SO full of crap.....

motoged - 10-29-2013 at 02:43 PM

David,
Wow !!! I should be ashamed of myself?

I did not say anything about being anti-Semitic....but found your use of the word unusual....

Your rationalization works for you, I see.....but what should I be ashamed of?

You were clearly presenting a condemning opinion of Carlos ....and it looked like you were not respecting his imagined "usher's'" imagined advice.

Just looked like a poke at someone using a term usually used in quite a different context.

Methinks you protest too much .

[Edited on 10-29-2013 by motoged]

Lets put this to rest, OK?

Howard - 10-31-2013 at 11:18 AM

I was raised Jewish and have heard the term Rabbi occasionally used beyond the religious sense. I have heard it used in the context of which I interpreted it as a wise opinion by an individual. Even though raised as a Jew, I never took offense when used in that manner.
Are we done now with the Rabbi reference?

Now back on track to the Peso.. Just got 12.78 at the ATM in Loreto.

[Edited on 10-31-2013 by Howard]

DENNIS - 10-31-2013 at 11:25 AM

En este momento:

13.0126

Heyyyyyy....didja hear about the Greek boy who ran away from home because he didn't like the way his father was rearin' him? :lol:

....I'm on a roll....everybody stand back.......... :lol:

Howard - 10-31-2013 at 11:27 AM

Dennis, where did you get your figure? If it is from a computer, not from an actual transaction, the numbers just don't matter. If it is from a transaction, I would love to deal with your bank, not mine.

DENNIS - 10-31-2013 at 11:31 AM

Quote:

Originally posted by Howard
Dennis, where did you get your figure?

Yahoo Finance.

For Dennis, another joke

Howard - 10-31-2013 at 11:41 AM

Did you hear about the guy whose whole left side was cut off? He's all right ...

DENNIS - 10-31-2013 at 12:09 PM

Quote:

Originally posted by Howard
Did you hear about the guy whose whole left side was cut off? He's all right ...

Ohhh my freakin' Gawd...It's the Howie and Denny show. :lol:

motoged - 10-31-2013 at 12:29 PM

Quote:

Originally posted by Howard

Can we done now with the Rabbi reference?

Now back on track to the Peso.. Just got 12.78 at the ATM in Loreto.

Yep....DONE.

The Canadian $ is worth $0.96 US today..... :saint:

Timo1 - 10-31-2013 at 12:32 PM

We just bought a couple thousand USD...Only cost us $120

I HATE BANKS

DavidE - 10-31-2013 at 01:34 PM

"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain."
-Mark Twain

[Edited on 10-31-2013 by DavidE]

Bajaboy - 11-2-2013 at 02:47 PM

Holy guacamole....it's now at 13.07

DENNIS - 11-5-2013 at 08:17 AM

At this moment:

13.1544

Here Is Another Tipo de Cambio Site SHCP/SAT/Hacienda

DavidE - 11-5-2013 at 01:03 PM

http://www.sat.gob.mx/sitio_internet/asistencia_contribuyente/informacion_frecuente/tipo_cambio/

DENNIS - 11-7-2013 at 08:01 AM

Esta Mañana:

13.1392

MitchMan - 11-7-2013 at 10:29 AM

Anybody know a reliable website that has the exact exchange rate for the use of a BofA Visa ATM card at Santander bank?

I use the Visa Credit card website:

http://usa.visa.com/personal/using_visa/consumer_ex_rates_us...

but it is not precise. The actual exchange rate that I experience when using my BofA Visa ATM debit card at Santander Bank to get pesos is usually + or - (usually "-" ) 6 or 7 centavos different from the exchange rate posted on the website for a given day. It can and certainly has varied by more.

I called many BofA sources and no one knows where the exact rate is posted. They seldom tell you that they do not know, then they give you a website that is not correct at all. Often, I have been told that the rate used at ATMs to withdraw pesos is set for the entire day and that it does not change. That is absolutely incorrect; it can and has changed during the day.

DENNIS - 11-7-2013 at 10:39 AM

Quote:

Originally posted by MitchMan
(usually "-" ) 6 or 7 centavos different

bajagrouper - 11-7-2013 at 10:46 AM

Here is the website I use, the Bank of Mexico;

http://www.banxico.org.mx/

Yesterday afternoon I withdrew with my Citibank ATM card at a Banamex ATM and received 13.1492 x $1.......

Bajaboy - 11-7-2013 at 11:23 AM

Quote:

Originally posted by MitchMan
Anybody know a reliable website that has the exact exchange rate for the use of a BofA Visa ATM card at Santander bank?

I use the Visa Credit card website:

http://usa.visa.com/personal/using_visa/consumer_ex_rates_us...

but it is not precise. The actual exchange rate that I experience when using my BofA Visa ATM debit card at Santander Bank to get pesos is usually + or - (usually "-" ) 6 or 7 centavos different from the exchange rate posted on the website for a given day. It can and certainly has varied by more.

I called many BofA sources and no one knows where the exact rate is posted. They seldom tell you that they do not know, then they give you a website that is not correct at all. Often, I have been told that the rate used at ATMs to withdraw pesos is set for the entire day and that it does not change. That is absolutely incorrect; it can and has changed during the day.

I've always found that BofA had a bigger spread. I used to use Safe Send and the exchange was always lower. Also when I wire money using BofA the exchange is lower than if I used my credit union.

DENNIS - 11-8-2013 at 07:54 AM

Now:

13.3040

DENNIS - 11-16-2013 at 09:20 AM

And now:

12.9355

Wednesday, 11/20

Howard - 11-21-2013 at 07:58 AM

12.87 at the bank ATM in Loreto

chuckie - 11-21-2013 at 08:02 AM

When this ludicrous thread started, I put a 500 peso note in my wallet.....everytime a post is made to this thread..I look at it...still 500 pesos....

jbcoug - 11-21-2013 at 08:19 AM

Chuckie,

You should have put 500 bucks in there.

John

Udo - 11-21-2013 at 08:29 AM

May I ask, grouper, where the branches of that bank are?
Or at least point me in the direction of a web site that shows where the branches are.

Quote:

Originally posted by bajagrouper
Here is the website I use, the Bank of Mexico;

http://www.banxico.org.mx/

Yesterday afternoon I withdrew with my Citibank ATM card at a Banamex ATM and received 13.1492 x $1.......

DavidE - 11-21-2013 at 12:58 PM

Yeah I love it every month when peso deposits are put into my US bank account. Makes it so much easier...

Note for some: I would advise to not consider a pastime of currency speculation. After all a Renminbi is a Dinar is a Rupee.

bajagrouper - 11-21-2013 at 02:17 PM

Quote:

Originally posted by Udo
May I ask, grouper, where the branches of that bank are?
Or at least point me in the direction of a web site that shows where the branches are.

Quote:

There are no branches,The Bank of Mexico is like the Federal Reserve Bank in the USA...They publish exchange rates, interest rates etc.I use them for the exchange rates instead of places like XE or others......

DavidE - 11-21-2013 at 02:22 PM

Unavoidable, irrepressible sarcasm...

...in response to claims of...

"Ah jeez the peso isn't connected to the dollar... "

Interesting conversation at Bancomer

Howard - 11-21-2013 at 03:45 PM

Just came from Bancomer in Loreto. The teller said his exchange rate at the window is 12.5 but the ATM is 12.92.

chuckie - 11-21-2013 at 04:18 PM

So what? If you live here, full time, you put your card in the machine and get pesos...Aint like you can shop around for the best deal..and its chump change anyhow....

Howard - 11-21-2013 at 04:28 PM

I agree, it's chump change and what it is is what it is.

Not to change the subject, if we absolutely agree it's a drop in the bucket then why do I go get water only on Wednesdays when it's 2 X 1? It's only a savings of 11 pesos, but somehow I compelled to do it. It's not the money as I tip the guy who puts it in my car. :biggrin:

Maybe it's just the idea that I think I am getting a good deal. :biggrin:

shari - 11-21-2013 at 04:48 PM

Howard...you must have some canadian blood in you!!! :wow:

hahahaha

Howard - 11-21-2013 at 05:24 PM

Eh?

DENNIS - 12-9-2013 at 12:51 PM

At this moment:

12.87 to 1

Bob and Susan - 12-9-2013 at 01:40 PM

yesterday at the border cambios

12.827 to the dollar

DavidE - 12-9-2013 at 02:39 PM

Like the weather, or anything else - why talk about it? Why even think about it? This is classic rural African, or Asian philosophy. Accept it and go on to other more important things, like chew the tastiest betel nut or send the witch doctor a basket of fruit.

Course there is that black velour portrait of Elvis that needs to go up in the living room, and where did I put that brochure of that Jacked-up F-900 I got down at the Ford place?

LaTijereta - 12-10-2013 at 09:12 AM

Quote:

Originally posted by Howard
I agree, it's chump change and what it is is what it is.

Not to change the subject, if we absolutely agree it's a drop in the bucket then why do I go get water only on Wednesdays when it's 2 X 1? It's only a savings of 11 pesos, but somehow I compelled to do it. It's not the money as I tip the guy who puts it in my car. :biggrin:

Maybe it's just the idea that I think I am getting a good deal. :biggrin:

Howard.. It's simple..

When your working.. it's all about the money coming in

When your retired.. it's all about the money going out..

:biggrin:

Bajaboy - 1-24-2014 at 09:34 PM

holy bacon wrapped hot dog it's now at 13:45

dasubergeek - 1-24-2014 at 10:19 PM

Yeah, except it isn't at the cambios... the official rate was 13.17 on Sunday and the cambios were all 12.6-12.8.

Bajaboy - 1-24-2014 at 10:49 PM

Quote:

Originally posted by dasubergeek
Yeah, except it isn't at the cambios... the official rate was 13.17 on Sunday and the cambios were all 12.6-12.8.

So go to the atm :?:

wessongroup - 1-24-2014 at 11:02 PM

Quote:

Originally posted by Bajaboy

Quote:

Originally posted by dasubergeek
Yeah, except it isn't at the cambios... the official rate was 13.17 on Sunday and the cambios were all 12.6-12.8.

So go to the atm :?:

Like your approach :lol:

rhintransit - 1-25-2014 at 07:42 AM

here in Loreto we have no Cambios, but stores sometimes advertise, buy dollars, at "x" I got pesos at 13.4 yesterday at the ATM, driving away, saw a new 'buy dollars' sign on the fabric store, they were buying at 11 to 1.

apple - 1-25-2014 at 09:28 AM

Got 13.43 yesterday at an ATM

DavidE - 1-25-2014 at 12:32 PM

Let's see what happens if the tipo de cambio approaches 14.0 to 1

Lying Banco de Mexico says they have what for currency reserve dollars...?

$143,000,000,000,000,000,000,000,000

Let's see them give them away to the treasury to maintain the peso rather than ship them by the pallet load to Houston or the Cayman Islands.

chuckie - 1-25-2014 at 02:52 PM

:?:

Pescador - 1-25-2014 at 03:31 PM

Quote:

Originally posted by DavidE
Let's see what happens if the tipo de cambio approaches 14.0 to 1

Lying Banco de Mexico says they have what for currency reserve dollars...?

$143,000,000,000,000,000,000,000,000

Let's see them give them away to the treasury to maintain the peso rather than ship them by the pallet load to Houston or the Cayman Islands.

Let me see with a $500 social security check the difference amounts to.........(not a lot).

DavidE - 1-25-2014 at 03:37 PM

Wanna go back to the old days when a store purchase on a register rang up 296,443 pesos?

The December 2013 way: Ya sticks your card into the machine and ya wants 100 dollars worth of pesos. The machine spits out 1,200 pesos

With the devaluing peso

The 25 of January way, Ya sticks your card in the machine and ya wants 100 dollars worth of pesos. The machine spits out 1,350 pesos.

Like on 21 December 1994, when a chupacabra ran off with forty tons of 100 dollar bills, the Bank of Mexico lies its ass-off about how many dollars the treasury is holding to prop up the peso. Politicians. Billions of dollars in hard currency. Of course they wouldn't dream of touching it. Ever. And that's a promise.

DavidE - 1-25-2014 at 03:43 PM

Fifteen bucks is fifteen bucks. And if things get sticky we may see the peso at 17 to 1.

Mexico suddenly has found themselves flooded with next to worthless crude oil and cadres of oinking politicos that demand the trough be kept full.

The gasoline and diesel issue is based SOLELY on a public that says "A REFINERY? NOT IN OUR BACK YARD!" And an oil industry that says "BUILD MORE REFINERIES AND DRIVE DOWN THE PRICE OF PRODUCT? ARE YOU NUTS?"

chuckie - 1-25-2014 at 04:32 PM

Wow! Wish I could get somma that stuff he's been smokin...

rts551 - 1-25-2014 at 05:02 PM

I am sure its medical.

DavidE - 1-25-2014 at 05:13 PM

Maybe that's you're problem - you been smokin' and decomposing between the ears. Well, time for you guys to drag out the Gun N Ammo back issues and continue to get eddycatted. Course you could spend a little time planning your upcoming pilgrimage to Graceland. Wotta Hoot.

chuckie - 1-25-2014 at 06:01 PM

WOW!

Terry28 - 1-25-2014 at 07:07 PM

David, check your meds and adjust the dosage accordingly......

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