BajaNomad

Exchange rate

vandenberg - 3-16-2009 at 09:44 AM

Seems like our dollar is dropping like a stone.
Peso as of now trading at 14.14 to the dollar.

Ouch !!, Ouch !!

Bajahowodd - 3-16-2009 at 10:18 AM

Dollar dropping, or Peso firming?

LOSARIPES - 3-16-2009 at 11:05 AM

You win either way. If the peso gains against the dollar you lose some pesos but Mexico gains strength in is economy and things tend to improve or at least, not get worse and that is good for us all. We don't want to live in a country where its economy gets worse and worse.... business closing, unemployment, etc. just a thought.

DENNIS - 3-16-2009 at 11:38 AM

I wish it would just go to 10x1 and stay there....not frozen as the old 8x1 rate was for years but, stabilized. That way, we could plan our private futures. All this fluctuation crap causes too much anxiety.

I meant 12.5x1 up there...8 cents each. I'll get it together.........

[Edited on 3-16-2009 by DENNIS]

vandenberg - 3-16-2009 at 01:00 PM

Quote:
Originally posted by Bajahowodd
Dollar dropping, or Peso firming?


It's weakening against other currencies as well, like Euro and Canadian dollar. That's why I supposed the greenback was weakening.:?::?:

Woooosh - 3-16-2009 at 01:18 PM

The peso strengthening trend makes no sense- nothing economically has changed to support it. IMHO the currency traders are just playing ther old games again.

Bajahowodd - 3-16-2009 at 04:50 PM

Maybe it's about the Chinese questioning the safety of their holdings.

Woooosh - 3-16-2009 at 04:52 PM

anything like that gives currency traders an opportunity- en masse.

Bajahowodd - 3-16-2009 at 04:56 PM

I'll buy that one, too.

Woooosh - 3-16-2009 at 05:03 PM

How about this having an impact on the pesos strengthening over the last few days... news like this always leaks out to those who can profit from it.



http://cnnwire.blogs.cnn.com/2009/03/16/mexico-to-raise-tari...

Mexico to raise tariffs on U.S. exports

Posted: 06:36 PM ET
MEXICO CITY, Mexico (CNN) — Mexico has announced plans to raise tariffs on almost 90 U.S. exports, Mexican and U.S. officials confirmed Monday.

The new trade measures are in retaliation for the cancellation earlier this year of a U.S. commercial trucking project, Mexico’s state-run news agency said, and will target U.S. industrial and agricultural products delivered to Mexico.

Mexico’s Economic Secretary Gerardo Ruiz Mateos called the cancellation of the program a breach of the North American Free Trade Agreement (NAFTA), the agency said.

White House spokesman Robert Gibbs said the trucking project was killed in the 2009 omnibus appropriations bill, but President Barack Obama has asked his administration to create a new program

Hook - 3-17-2009 at 08:18 AM

Love to know what the products are, before the tariffs take effect.

castaway$ - 3-18-2009 at 02:32 PM

Looks like the exchange rate is still falling it's under 14 - 1 today.

oldlady - 3-18-2009 at 02:34 PM

Announcement about Treasuries.

bajalou - 3-18-2009 at 03:27 PM

Quote:
Originally posted by Hook
Love to know what the products are, before the tariffs take effect.


From the Wall Street Journal

A partial list of the affected U.S. products follows:

-Christmas trees

-Onions

-Lettuce

-Pears

-Soft drinks

-Strawberries

-Potatoes

-Almonds

-Cherries

-Mixed fruits or dried fruit

-Soy sauce

-Mineral water

-Certain red, rosé and white wines [up to 14% alcohol by vol]

-Sunflower seeds

-Shampoos

-Manicure and pedicure solutions

-Dental creams and floss

-Deodorants

-Pre- and after-shave

-Toilet paper

-Copy paper

-Combination locks

-Kettles

-Wireless telephones

-Batteries

-Sunglasses

Bajahowodd - 3-18-2009 at 03:58 PM

A great deal of that stuff is either grown or manufactured in Mexico. So, only thing I can see happening is that selection may diminish.

Russ - 3-18-2009 at 04:11 PM

Today's rates

3:18:09 Currency.jpg - 47kB

fdt - 3-19-2009 at 09:55 AM

I guess the US gov. gets even setting the exchange rate at 17 to 1
* As of March 17, 2009, fees for all Consular Services will be charged at an exchange rate of 17 Mexican pesos to 1 U.S. dollar, up from the previous exchange rate of 14 Mexican Pesos to 1 U.S. dollar.

http://tijuana.usconsulate.gov/niv.html

Woooosh - 3-19-2009 at 09:58 AM

Quote:
Originally posted by fdt
I guess the US gov. gets even setting the exchange rate at 17 to 1
* As of March 17, 2009, fees for all Consular Services will be charged at an exchange rate of 17 Mexican pesos to 1 U.S. dollar, up from the previous exchange rate of 14 Mexican Pesos to 1 U.S. dollar.

http://tijuana.usconsulate.gov/niv.html


if we could only get them to open a currency exchange window giving that rate!