BajaNomad - Banks in Ensenada do not have dollars

Banks in Ensenada do not have dollars

David K - 12-20-2005 at 05:28 PM

This may be a sign of a pending peso devaluation... you think???

bajalou - 12-20-2005 at 07:44 PM

Quote:

Originally posted by David K
This may be a sign of a pending peso devaluation... you think???

This usually happens shortly after the Presidential election.

jerry - 12-20-2005 at 08:49 PM

the goverment wants to keep the hard curency to use as a edge against inflation??

Diver - 12-20-2005 at 09:51 PM

No, the goverment officials want to stockpile dollars for personal use as a hedge against getting fired at the next election if they last that long.

Anonymous - 12-21-2005 at 11:14 AM

Quote:

Originally posted by Hose A
The local Banks are refusing to sell American dollars to their customers.
Stating that they do not have any American money on hand.

What about customers who have dollar accounts?

Mexican banks are not required to exchange dollars for pesos. It would be just like demanding pesos for dollars in the U.S.....Good luck! :biggrin:

Dave - 12-21-2005 at 11:57 AM

Quote:

Originally posted by Hose A
You seem to be the expert on everything so why do you not know about the dollar accounts?
You CAN purchase pesos in American banks.
Exchanging dollars for pesos privately is done everyday, no one seems to care if it is legal or not.

Sorry, that was me. If I had not posted anonymously you would have known that I am (indeed) an expert on everything.

While it is true that you might (if available) purchase pesos in American banks, they are not required to sell them. Same thing (reversed) in Mexico. The only exception is for dollar accounts AND only if withdrawing.

And regarding private exchanges:

It's one thing for Nationals to privately change currencies or for anyone to pay in dollars and get pesos in exchange but a gringo offering to "sell" dollars privately.... can lead to 'beeg troubles'. True, it rarely happens, but..... :spingrin: