BajaNomad - Peso at 13.10... (Sept.22-- now at 14... 15 on Friday (9/23)?

Peso at 13.10... (Sept.22-- now at 14... 15 on Friday (9/23)?

Woooosh - 9-18-2011 at 10:11 PM

Time to think about converting some dollars...

[Edited on 9-22-2011 by Woooosh]

[Edited on 9-23-2011 by Woooosh]

krafty - 9-18-2011 at 10:56 PM

just came from downtown and went to Gueritas for dinner-stopped at the bank on the way home! restaurant was great too!

DENNIS - 9-19-2011 at 07:13 AM

7:13 AM

13.193 at the moment. It's just the nature of the beast. I wouldn't be cashing in the farm quite yet...if ever.

DaleG - 9-19-2011 at 07:17 AM

How much can you pull out of Sandanter with a BofA card?
Can you get more if you go in the branch office?

greengoes - 9-19-2011 at 07:41 AM

That's about a 15% increase in purchasing power in the past two months, 11.2 to 12.9 cambio. When it hits 13.5, and it very well could the shape Europe is in, cash in for 4 months needs. :lol:

DENNIS - 9-19-2011 at 08:22 AM

Quote:

Originally posted by greengoes
That's about a 15% increase in purchasing power in the past two months, 11.2 to 12.9 cambio.

Primarily for domestic products only. As the Dollar rises against the Peso, imported goods will cost more Pesos at all points.

I wouldn't be going out to buy Pesos as an investment unless you plan to take advantage of a saving immediatly. The last thing in the world I would want is a mattress full of Pesos.

Euros arn't looking too good either since China is on the verge of buying Greece.

Keep your Dollars.

Woooosh - 9-19-2011 at 08:57 AM

Quote:

Originally posted by DaleG
How much can you pull out of Sandanter with a BofA card?
Can you get more if you go in the branch office?

6000 pesos at a time at the ATM with no fee. Hands down the fastest way to get the best rate. I get an e-mail a few hours after each withdrawal giving me the rate I got too. Always good.

wessongroup - 9-19-2011 at 09:08 AM

"and it very well could the shape Europe is in"

They® do seem to be having a bit of a problem... G20 is about to implode or exploded... just saying...

oxxo - 9-19-2011 at 09:25 AM

Quote:

Originally posted by DaleG
How much can you pull out of Sandanter with a BofA card?
Can you get more if you go in the branch office?

6000p per day per card. We have 2 cards so 12,000p per day. You cannot take money out of Santander office with a BofA card; only through the ATM.

Woooosh - 9-19-2011 at 09:35 AM

Every month we use this method to take pesos out, and then walk them over to Bancomber for deposit. Only fee-free way to do it.

[Edited on 9-19-2011 by Woooosh]

krafty - 9-19-2011 at 10:50 AM

6,000 at a branch office but less at the ATM's at the kiosks in Commercial, etc.

Bob and Susan - 9-19-2011 at 12:37 PM

no way
today at the bank in mulege i got 12.91

the border cambios would be about 12.5

Bill Collector - 9-19-2011 at 03:18 PM

Today 12.87 in San Jose del Cabo

bigmike - 9-19-2011 at 08:30 PM

I bank with Bank of America and I can take $700.00 a day
out of my checking account, I have taken $7000.00 pesos
out of Santander's ATM, have never tried to take more than that, but have done it on many occassions.

schwlind - 9-19-2011 at 10:17 PM

Quote:

Originally posted by Woooosh

Quote:

Originally posted by DaleG
How much can you pull out of Sandanter with a BofA card?
Can you get more if you go in the branch office?

6000 pesos at a time at the ATM with no fee. Hands down the fastest way to get the best rate. I get an e-mail a few hours after each withdrawal giving me the rate I got too. Always good.

My understanding is that is dependant upon what withdrawal amount per day you have established with your BofA account in the states. Several months ago I raised mine to $1000 per day US, so I can withdraw up to the equivalent amount in pesos... (using my BofA debit card, of course) and I use ScotiaBank in Ensenada.

[Edited on 9-20-2011 by schwlind]

bigmike - 9-19-2011 at 10:40 PM

Scotia use to limit you to 3000 pesos a day, do they allow more now?

schwlind - 9-20-2011 at 04:54 AM

Quote:

Originally posted by bigmike
Scotia use to limit you to 3000 pesos a day, do they allow more now?

I saw that notice posted on their ATM, however, if your actual account is at BofA in the US, the rules for ATM withdrawals appear to be the limit established with your US BofA account, and the beauty (at this time at least) is there are NO BANK FEES INVOLVED IN THE TRANSACTION! :bounce:

MitchMan - 9-20-2011 at 08:22 AM

Quote:

Originally posted by DENNIS
I wouldn't be going out to buy Pesos as an investment unless you plan to take advantage of a saving immediatly. The last thing in the world I would want is a mattress full of Pesos.

Euros arn't looking too good either since China is on the verge of buying Greece.

Keep your Dollars.

There is alot of wisdom in those words.

[Edited on 9-20-2011 by MitchMan]

DaleG - 9-20-2011 at 08:27 AM

Ive been watching the exchange rate like a hawk lately. I try to time some silver libertad purchases when the silver price dips and exchange rate is up.
If I can get the difference to near the spot price of silver....then I buy.

Pesos/dollar

C-Urchin - 9-20-2011 at 09:00 AM

Quote:

Originally posted by Woooosh
Every month we use this method to take pesos out, and then walk them over to Bancomber for deposit. Only fee-free way to do it.

[Edited on 9-19-2011 by Woooosh]

If you go to Chase bank anywhere in the US and use "Rapid Cash", you are allowed to send someone (or yourself) $1500 max. 3 times a month per Chase account. It can be all in the same day.

Money arrives at Banorte. No need for an account there. The someone you sent it to or yourself goes there with ID and picks up pesos at the day's rate. No fees, no commissions. No need to deposit the money. Can be anyone, a MX national, a foreigner, an extra terrestrial, a dog, as long as you have ID.

Woooosh - 9-20-2011 at 04:11 PM

Quote:

Originally posted by Bill Collector
Today 12.87 in San Jose del Cabo

I made a withdrawal at noon today with my BofA card at the Santanders. 6000 pesos for $456.62 = $13.14

Russ - 9-20-2011 at 05:25 PM

12.93 in Mulege today

Peso exchange rate

cftlet - 9-22-2011 at 09:29 AM

I havent seen this covered recently soooooo I am curios and Iam sure all of the great minds here on nomads ( even if they are fairly well preserved in tequilla and cervasa) will have information. :tumble:

A friend just emailed me and he said the exchange rate is now 13.88 to 1. My question is why and how long do you think this dvaluation will last? As screwed up as our economy is, I just cant figure this out.

vandenberg - 9-22-2011 at 09:36 AM

Exchange rates always seem like a crapshoot to me, so can't answer your question.
But for the latest rates for all currencies try this site:

http://www.xe.com/ucc/

DaleG - 9-22-2011 at 09:49 AM

great site. Peso rate touched 13.91 today.

Puckdrop - 9-22-2011 at 10:50 AM

Whether you like or not, the world currency is the US dollar. Doesn't matter how screwed up your economy is right now, it's the worlds bench mark. Our Canadian dollar has slipped to .97 today and on an economic side of it, this makes no sense. Gold, Oil, Copper, Iron Ore all of our natural resources have tanked today. But don't take this to the bank. The market will correct itself in the next few days. The peso will be back to 12 per 1USD by this time next week.
There economics 101 class dismissed for today :lol:

DENNIS - 9-22-2011 at 11:17 AM

Quote:

Originally posted by Puckdrop
There economics 101 class dismissed for today :lol:

Thanks teacher. Can I go to Sharky's now? It's lunch time.

sancho - 9-22-2011 at 11:27 AM

I haven't seen this much fluctuation in yrs. seems that it
hovered around 10 1/2 to 11 for 8 yrs or so. My experience
is that the peso adjusts once in a while, then prices in Mex
rise to compensate for the drop. Back in the day,
80's, you didn't exchange much money at 1 time
because next day the peso may take a 20% dump

Skeet/Loreto - 9-22-2011 at 11:37 AM

Uless you have some good connections with a Bank and aPerson in the Govt. be carefull if you are going to Invest in the peso.

I went through the time when the Peso started at 8 to 1 and over a fairly short time went to 3,450 to i.

I was getting information ahead of the Devaluation and would go to the Bank in Constitution and draw out my Peso which where getting 145% on 28 day Notes.

I would take the pesos and buy Dollars at say 12 to One then wait a couple of days and buy back into Pesos 24 to One.

You have to have someone with connections that can tell you about when the Devaluation will take place each time.

DENNIS - 9-22-2011 at 12:13 PM

Quote:

Originally posted by sancho
Back in the day,
80's, you didn't exchange much money at 1 time
because next day the peso may take a 20% dump

Those were the days when the Dollar was king. Every landlord that could get away with it was changing the rents from Ps to Dollars and every day, with devaluation, he was in effect raising the rent...or receiving more rent since he was still living on the Peso standard.
Pretty smart...these Meseecans.

Skeeter, You Are Back!

Gypsy Jan - 9-22-2011 at 12:24 PM

:tumble:

Puckdrop - 9-22-2011 at 12:30 PM

I think that Skeeter took a shower and left OFF Topics for a bit :tumble:

Dennis, a double scotch on the rocks please, I'll be there as soon as I grade your Obamaniusum thesis :lol:

wessongroup - 9-22-2011 at 01:02 PM

Peso's ?? ... How do ya catch them and how do ya cook them ... :biggrin:

Just glad Sharky's doesn't have wifi... or ..... hey Dennis... and Chewie ... gimme another Pacifico ...

[Edited on 9-22-2011 by wessongroup]

Bob and Susan - 9-22-2011 at 01:04 PM

today 9-22
bank in mulege

13.5526 wow

its time to move money

wow
time to BUILD
time to VACATION

mtgoat666 - 9-22-2011 at 03:09 PM

Quote:

Originally posted by Puckdrop
Whether you like or not, the world currency is the US dollar. Doesn't matter how screwed up your economy is right now, it's the worlds bench mark. Our Canadian dollar has slipped to .97 today and on an economic side of it, this makes no sense. Gold, Oil, Copper, Iron Ore all of our natural resources have tanked today. But don't take this to the bank. The market will correct itself in the next few days. The peso will be back to 12 per 1USD by this time next week.
There economics 101 class dismissed for today :lol:

yesterdays fed "twist" decision to shift money from short to long term bonds resulted in dollar increasing in value... tomorrow will be something else... and who knows? (perhaps george soros knows, but nomads certainly don't know)
if you try to time currency market you will never beat the big banks and currency traders!
just convert your money when you need it; and don't worry, be happy!

DENNIS - 9-22-2011 at 03:28 PM

Quote:

Originally posted by sancho
Never could figure out D's political persuasion,

Independent, with a falling precipice to the right.

wessongroup - 9-22-2011 at 04:35 PM

A keeper...

Roberto - 9-22-2011 at 05:41 PM

Pemex in TJ (Sanchez Taboada) was giving 13.8. Banamex was at 13.65!!

Couldn't pass up filling my truck with Diesel.

vgabndo - 9-22-2011 at 05:47 PM

Oops, little too much momentum. This madness sure can spin my gyros. The exchange rate huh...

Here's my best exchange rate story. On our honeymoon we're driving to Belize from NorCal. and outside Chetumal we exchanged all our old pesos for Belizian Dollars. The exchange from pesos to dollars was understandable because we'd just done that a week before buying them, then 2:1 for Belizian Dollars.

We spent a great time up the Monkey River and out on Ranguana Cay, and coming back into Mexico there was a NEW peso since we had been gone!

We're heading home, money is already getting tighter, and I'm suddenly standing with my calculator in hand in front of a professional street money changer at this little frontera and I have NO IDEA what my money is worth or what numbers to punch in.

I counted out my BZ money and he counted out a raft of New Pesos, the value of which I STILL couldn't really understand, and stepped back. Hmmmmm. I put the calculator screen to my nose and punched in some numbers and held out my hand. He put more pesos in it. I furrowed my brow and punched in more meaningless numbers shook my head and put my hand back out. He put more pesos in it.

I didn't try it a third time. I figured I had about the best exchange rate I was going to get for my BZ dollars. :lol:

Woooosh - 9-22-2011 at 05:48 PM

Quote:

Originally posted by Roberto
Pemex in TJ (Sanchez Taboada) was giving 13.8. Banamex was at 13.65!!

Couldn't pass up filling my truck with Diesel.

you did well. dollars to donuts someone will be taken for 10:1 today. The only place with real competition for the rate is the cluster of exchange houses in San Ysidro.

Oggie - 9-22-2011 at 05:50 PM

12:1 in BOLA

sancho - 9-23-2011 at 11:26 AM

Since we are going Central America, I walked across
the Bridge to Mex from Guatemala, heard a unconfirmed
story of a Traveler who checked out of Guatemala,
tried to enter Mex, was asked for proof of funds, Mex IMM refused
him entry, this guy was said to gave been stuck on
bridge for a few days, Guat would not let him back in for
the same reason, a traveler was said to have
loaned him some $ to show Mex IMM who then allowed
him to enter

DENNIS - 9-23-2011 at 11:36 AM

Quote:

Originally posted by sancho
Since we are going Central America, I walked across
the Bridge to Mex from Guatemala, heard a unconfirmed
story of a Traveler who checked out of Guatemala,
tried to enter Mex, was asked for proof of funds, Mex IMM refused
him entry, this guy was said to gave been stuck on
bridge for a few days, Guat would not let him back in for
the same reason, a traveler was said to have
loaned him some $ to show Mex IMM who then allowed
him to enter

Mexico has two borders and two standards. Kinda makes you want to say WTF....doesn't it.

Woooosh - 9-23-2011 at 11:51 AM

so do we.

vgabndo - 9-23-2011 at 12:03 PM

And our second biggest population of undocumented aliens is wearing Maple Leaves right??? Where's the horror? Who's lobbying for a Berlin wall on the North frontera?

mtgoat666 - 9-23-2011 at 12:08 PM

Quote:

in my younger days i got turned away at canadian border for insufficient funds. canadians waging class warfare! money CAN buy you love!

Puckdrop - 9-23-2011 at 12:32 PM

Ohhhh, vgabndo and mtgoat666 you guys must be rookies. It depends where you cross at the great 49th parallel. Were you carrying French Canadian money or English Canadian money. If you don't have the right type at the right boarder crossing they will not let you in ! And at this point and time you could ask Obama in his make work programs to build that Can-Am wall. We`ll sell you the material and you guys build it. But knowing you, you`ll just exploit cheep Mexican workers. Hey, it`s a win, win for all of us. I love this great North American democratization. :light:

DENNIS - 9-23-2011 at 12:49 PM

Quote:

Originally posted by Woooosh
so do we.

Yeah...but, being so much further north, we're closer to Gawd and can be like that. :lol:

Woooosh - 9-23-2011 at 01:39 PM

Quote:

Originally posted by DENNIS

Quote:

Originally posted by Woooosh
so do we.

Yeah...but, being so much further north, we're closer to Gawd and can be like that. :lol:

Peso at 13.10... (Sept.22-- now at 14... 15 on Friday (9/23)?

rts551 - 9-23-2011 at 03:34 PM

nope sorry, its moving the other direction today 9/23

DENNIS - 9-23-2011 at 04:23 PM

At this moment.....13.792 and closed for the weekend.

peso

absinvestor - 9-26-2011 at 04:17 PM

The dollar keeps getting stronger. On July 20th we paid 345.59us for 4000 pesos. On Sept23rd we paid 292.91. For us US gringos living in Mexico it is like a 20% cost of living raise. (The charts show that the dollar has another 5-7% to go.) Pemex and most other businesses still only give 11-1 credit which works fine when paying in pesos. For example I got a bid for $400 to do some work on the palapa. I asked how much in pesos and was told 4400 pesos. I can get the 4400 pesos at Bancomer for $327US (the $327 includes a charge I get from my US bank.) The contractor is happy since he is spending pesos and he will receive the number of pesos he bid for the job and I'm happy because it costs me less.

Bajahowodd - 9-26-2011 at 04:23 PM

I'm no expert, but it seems to me that the firming of the dollar has alot to do with the European monetary crisis. Check out the dollar v. Euro. Remember when it was on par? And then, the Euro exploded wherein I was in Europe when it was like $1.50 to one Euro.

Good to see you saving money. Enjoy it while you can. The whole world's monetary thing is very volotile right now.

Woooosh - 10-3-2011 at 07:01 PM

13.75 today at Santanders in Rosarito with BA Debit card (net when the transaction cleared ) Got 6000 pesos for $436.33. It's the only financial thing I am currently ahead in. ugh.

greengoes - 10-3-2011 at 07:32 PM

13.90 official rate, if Europe continues down 14 tomorrow, mebe.

J.P. - 10-3-2011 at 08:33 PM

Quote:

Mexico has two borders and two standards. Kinda makes you want to say WTF....doesn't it.

So does the U.S. and the difference is as staggering. :?:

woody with a view - 10-4-2011 at 05:49 AM

Quote:

Originally posted by Woooosh
13.75 today at Santanders in Rosarito with BA Debit card (net when the transaction cleared ) Got 6000 pesos for $436.33. It's the only financial thing I am currently ahead in. ugh.

ain't that the truth! :barf:

DENNIS - 10-4-2011 at 08:37 AM

Quote:

Originally posted by morgaine7
Rate seems to have been 13.8675 when my social security deposit came in Monday 10/3.

Ohhh....you arn't old enough for SS. We all know that.