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Exchange rate

Howard - 5-9-2013 at 05:30 PM

FYI

Today in Loreto at the ATM at the bank I wound up getting 11.93 to the $

On 4/22 = 12.19
On 4/17 = 12.12
On 4/15 = 12.02
On 2/19 = 12.66

That is a 6% decline since February 19th.

Thank goodness for happy hour. What this means is that for the same amount of money I can now only drink 94 beers for the price of 100. I can handle that but it is making me nervous what the future brings. Should I stock up now on Pacifico before it is to late or simply let the peso take it's course and hope for the best?

[Edited on 5-10-2013 by Howard]

DENNIS - 5-9-2013 at 05:39 PM

Money market rate at this moment:

USD/MXN (USDMXN=X)
11.9951

DavidE - 5-10-2013 at 09:08 AM

The USA is weakening the dollar. The eternal war between the Chinese Yuan Renminbi continues. I notice just about every other country of significance is also devaluing slowly....except Mexico.

They just do not learn. They have stuck a sign onto their rear

"PATEARME!!!"

Even the drug billions being laundered in the stock market by banks isn't going to pull the fat out of the fire.

People with 20K annual income do not drive 7 series BMW's.

rts551 - 5-10-2013 at 09:46 AM

David you must not be happy. What a matter....You losing your buying power.

Most of my Mexican neighbors are ecstatic. Their buying power has increased tremendously.

dorado50 - 5-10-2013 at 10:13 AM

time to buy alot of pesos..

MXE

weebray - 5-10-2013 at 10:14 AM

Here's my hedge against a strong peso. MXE a mexican equity fund. The stronger the peso gets the more $ i make.

DavidE - 5-10-2013 at 10:20 AM

May I go on record as encouraging the strongest of PUTS against MXN? If only that were possible in the currency exchange fleecery.

rts551 - 5-22-2013 at 02:06 PM

Peso losing value again. 12.43 on the exchange market today. Hope all you guys did not buy a ton of pesos 6 weeks ago.

sancho - 5-22-2013 at 03:06 PM

Border xchange at San Ysidro last Thurs. 11.80

chuckie - 5-22-2013 at 03:09 PM

Exchange rate is alot like the cost of electricity or gasoline..Mildly interesting, but what are the options? It are what it are....Kinda hard to shop around...

bkbend - 5-22-2013 at 03:16 PM

Back to the original question -- do not stock up on your Pacifico, it goes skunky fast in the summer heat if you can't keep all those cases refrigerated.

DENNIS - 5-22-2013 at 03:58 PM

Dollar/Peso at the moment: 12.4330

DavidE - 5-22-2013 at 04:04 PM

This is yet another symptom of today's pseudo-cerveza. It isn't beer. It hasn't been "real beer" since the late 80's. Early on, a person came to Baja California and drank cerveza "al tiempo" room temperature brew. There wasn't any "chilled" beer or refrescos and Mexicans thought gringos were nuts to want such a thing. They were convinced beyond a shadow of a doubt that drinking a chilled beverage including water was positively unhealthy.

Room temperature Superior and Carta Blanca was not all that bad. I did not enjoy my first Pacifico until I had reached Cd. Obregon on the other side. It did not exist in Baja California.

But the taste of today's cerveza is watery bland bogus brew. It's way cheaper to make it this way. If the beer was full of hops are barley like beers of yesteryear people would drink less. When Cabra brand beer was bought by Gallo in Guatemala the first thing they did was change the formula. More profitable.

willardguy - 5-22-2013 at 04:16 PM

and just when I thought i'd heard it all :no:

chuckie - 5-22-2013 at 04:31 PM

At least its not Miller Lite FYI Saul had Coors lite in the store the other day (why?)

rts551 - 5-22-2013 at 05:32 PM

oh, oh. sounds like David bought Pesos. :biggrin:

CortezBlue - 5-22-2013 at 10:11 PM

you must not watch Jim Cramer, If you did you would have bought a few thousand US dollars of Pesos, like I did

Cramer is projecting the peso to be 10-1 by Navidad

A combo of great GDP from Mexico and Obama printing money like there is no tomorrow.

Always remember, a government makes more taxes on inflation and less on deflation, thing about it!

tiotomasbcs - 5-23-2013 at 06:55 AM

In NorCal, Skunky is good! :yes:

And the flooded market is bringing down prices?! Just spend your money and don't sweat the small stuff as I've been told. Tio

[Edited on 5-23-2013 by tiotomasbcs]

DENNIS - 5-23-2013 at 08:47 AM

Quote:

Originally posted by CortezBlue

Cramer is projecting the peso to be 10-1 by Navidad

Ohhhh...that Cramer. Always kidding around.

12.4902 to one......as we speak.

DavidE - 5-23-2013 at 09:32 AM

December 20,1994 - Banco de México

"We Have Forty Two Billion US Dollars In Currency Reserves !!!"

December 22, 1994

¿"What Dollars - what are you talking about?"

If the Fed raises interest on T Bonds, pesos are going to flow. Ten to 1 by Christmas? You're faded pal. I'll bet any fool willing to risk dollars, that statement is so laughable it hurts. Go to any big box store. Watch carts carry FOREIGN merchandise to cars perhaps made in Mexico but the PROFITS go out of the country. Where are the PESOS coming from? Oil? Tourism? Maquiladoras? Tomatoes?

I cashed out of Mexico July 1994. Left holding DINA B stock at 7/8 peso per. I still took a bath percentage wise but thank god three thousand shares didn't amount to much.

Your money. Your risk. All I ask, is for folks to whine silently.

rts551 - 5-24-2013 at 09:16 AM

Quote:

Originally posted by DENNIS

Quote:

Originally posted by CortezBlue

Cramer is projecting the peso to be 10-1 by Navidad

Ohhhh...that Cramer. Always kidding around.

12.4902 to one......as we speak.

Cramer

Onits way up again today...13 not far off

DENNIS - 5-24-2013 at 09:18 AM

Quote:

Originally posted by rts551

Onits way up again today...13 not far off

En este momento...........12.5035 --1

Bruce R Leech - 5-24-2013 at 10:49 AM

the really scary thing is that this is not due to the Paso increasing in value, it is the devaluation of the dollar on the world market.

the paso is falling faster than ever but the dollar is falling much faster. :no:

[Edited on 5-24-2013 by Bruce R Leech]

Bajaboy - 5-24-2013 at 10:55 AM

I feel fortunate to have so many monetary supply experts on this forum. :lol:

DavidE - 5-24-2013 at 12:30 PM

21 December 1994

GANGBUSTERS!

chuckie - 5-24-2013 at 12:36 PM

Where chu gat dees "Pasos"? Here we can get only "Pesos"....

msteve1014 - 5-24-2013 at 02:38 PM

Quote:

Originally posted by lencho

Quote:

Originally posted by Bruce R Leech
the paso is falling faster than ever...

What makes you think that? Seems like the economy in La Paz is going gangbusters...

I doubt that the economy in La Paz has a big effect on the value of the peso around the world.

DavidE - 5-24-2013 at 03:11 PM

As long as things do not become...

Peso Much

Get So Little

Just Sayin'

DENNIS - 5-24-2013 at 03:55 PM

Quote:

Originally posted by lencho
Might, however, give some indication of the state of the national economy, which I would *guess* should affect the value of the Peso.

Indicators of the national economy have traditionally been nebulous. "Fixed" is another term that comes to mind.
The unemployment rate is a case in point.
Another is references to the burgeoning middle class with their consumer capabilities that never mentions their absence of mortgage burden....... which is coming.
They gonna be just like us.

chuckie - 5-24-2013 at 04:12 PM

The uS Farm economy is in danger as next years crop financing approachs, many (most) farmers live on bank loans against next years crops, secured by land value. Land prices and crop prices are dropping, and a lot of farmer ranchers likeley will not be able to borrow, if they are already overleveraged...Glad we sold our ranch...had no debt anyhow....As to the peso? If the exchange ratio gets too bad, Hell, I just wont buy anymore and starve to death....Simple

Move over

John M - 5-24-2013 at 04:29 PM

If this trend continues for another week or two all I can say is move over GOT PESO? 'cause I'll be joining you at Catavina.

John

DENNIS - 5-24-2013 at 04:31 PM

Quote:

Originally posted by chuckie
Hell, I just wont buy anymore and starve to death....Simple

The world has always been in need of leaders, Chuckie. :biggrin:

DENNIS - 5-24-2013 at 04:37 PM

It was long ago projected to hit 20x1, but things change quickly.
It doesn't matter much to we who live in the middle of it all since most things here worth while are imported and they will have an immediate price adjustment.
Go with it, and don't try to get ahead of it all.

Be happy...Don't worry.

chuckie - 5-24-2013 at 04:41 PM

The Church of the IJDM..It just dont matter

rts551 - 5-24-2013 at 04:55 PM

Quote:

Originally posted by chuckie
The uS Farm economy is in danger as next years crop financing approachs, many (most) farmers live on bank loans against next years crops, secured by land value. Land prices and crop prices are dropping, and a lot of farmer ranchers likeley will not be able to borrow, if they are already overleveraged...Glad we sold our ranch...had no debt anyhow....As to the peso? If the exchange ratio gets too bad, Hell, I just wont buy anymore and starve to death....Simple

Are you exchanging for dollars????? other wise what is hurting the locals, is in fact helping you (selfish I Know). More Pesos for the dollar (until inflation takes over), so if you starve, it ain't for lack of money.

Udo - 5-24-2013 at 04:59 PM

Quote:

Originally posted by Bruce R Leech
the really scary thing is that this is not due to the Peso increasing in value, it is the devaluation of the dollar on the world market.

the Peso is falling faster than ever but the Dollar is falling much faster. :no:

[Edited on 5-24-2013 by Bruce R Leech]

rts551 - 5-24-2013 at 05:20 PM

Quote:

Originally posted by Udo

Quote:

[Edited on 5-24-2013 by Bruce R Leech]

Shak!!! If your income is in dollars and your economy is pesos what a deal......Except Mexico's inflation is roaring at 4.5 percent which will catch up with folks whom live in Baja. and April's Inflation rate was 1.1 percent in the US ...

Me, I am going to enjoy it while I can and sympathize with the locals.

DavidE - 5-24-2013 at 05:35 PM

USA grocery bill: $100.00

It would be $50.00 but speculators and banks have to take their vigorish.

Yeah, pesos. What a bargain. A 195X70X14" BF Goodrich tire $1,500 pesos. But that is a bargain, right? Because it IS in pesos.

Check your power bill. How many kWh? Eight hundred you say? Come to Mexico and let CFE have their way with you with 800 kWh bills. It's OK it has to be cheap, it's in PESOS!

rts551 - 5-24-2013 at 05:48 PM

Hate to pi$$ on your Pouting Party, but go price the tires in the US or pay your PG&E bill up there.

on edit: $120 (at 12.5 to 1) out the door for any BF Goodrich tire is a bargain.

Our tucson bill used to run 2-300 dollars a month. Our Baja home is off-grid so no comparison but my Gringo bud (un named) complains if he pays 400 pesos a month.

[Edited on 5-25-2013 by rts551]

You Done Missed And Filled Your Shoe

DavidE - 5-24-2013 at 06:08 PM

http://www.walmart.com/catalog/tiresResultAction.do?year=&make=&model=&vehicle_path=false&tire_spec_selected=&tire_type=&tire_ load_index=&tire_load_range=&tire_speed_rating=&tire_equivalent_load_index=&tire_size=&dept=1077064&path=0%3A91083%3A1077064&a mp;Flag=TiresS&tire_width=195&tire_ratio=70&tire_diameter=14&x=38&y=10

I am talking about kWh, how many Kilowatt Hours were you using to pay that kind of money. It reminds me of talking about lunch "Gee I got a comida corrida for fifty pesos".

"That's nothing. I paid ten pesos"

"Wow! That's neat! What did you have?"

"A bottle of Cielo. I'm on a diet'

rts551 - 5-24-2013 at 07:18 PM

plus excise tax, plus sales tax,

David...unit expense is not as important to most people except for the sake of argument. Most people are concerned about the bottom line coming out of their pocket! I suspect that is why after your multitude of jobs, careers, and experience, is why you are living in Mexico.

DavidE - 5-25-2013 at 01:13 PM

Price is NOT why I live in México. I can assure you that I can find a much less expensive place to live north of the border. I took a tour of Sanderson Texas and found homes for rent there for 250 dollars. Same for Lake Jackson.

I live in Mexico because my family is here. I know the names of my neighbors and they tell "Ven!" and invite me for coffee and chisme. People say "Buen dia" as they pass on the sidewalk. Resteaurants serve other than S.E. Rykoff grade D foodstuffs. People with hardly a peso into their pocket are seen whistling as they fumble under the hood of their car trying to get it to start. Mexican Mexico is not gringo Mexico. If you've never lived for months or years not speaking Ingles it is hard to put into words. Cousins show up and hug and kiss. Las chicas knock on the door and accusingly announce "You didn't forget the wedding did you? The banda is already arrived and going to start playing!" Or bounce into your bedroom and announce "Levantas! We are going to rio chuta para nadar y picnic.

I wish you could be here in a store and listen to consumers who want to buy a ventilador but first ask "¿Como se sube mi la luz?" They damned well know about the basic rate, intermediate and excedente. Mexican shoppers are some of the savviest shoppers on earth IMHO. Mechanics know what a Snap-On or Mac tool means. Ladies sneer at Chinese junk can openers. The sum total of my jobs, careers and experience went to pay a City of Hope Hospital bill of more than six hundred thousand dollars in the early nineties. I figured it was more honorable than declaring bankruptcy. Liquidating almost a million dollars in assets in the early nineties turned out to be a long term decision because I never have regained my health. Do not ask me about what insurance company back charged that amount of money to the hospital, thank you.

With or without money I would be here in Mexico. My heart goes to the Mexicans and I damned sure will continue condemn prices (for ANYTHING) that rise beyond the reach of Mexicans. Like Carlos Slim, and much of America, wealth accumulation at any cost is a sickness.

rts551 - 5-30-2013 at 09:03 AM

My sticky (exchange market) says it is up to 12.87:1 today.

DENNIS - 5-30-2013 at 09:19 AM

Quote:

Originally posted by rts551
My sticky (exchange market) says it is up to 12.87:1 today.

Yeah....it's really active right now: 12.7851

DavidE - 5-30-2013 at 09:22 AM

The philosophy that Gilberto Ortiz acquired in the rubble of the 1994 devaluation is to not try and "fight" pressure against the peso because many times the pressure is temporary or transitional. He said Banco de Mexico "could" waste billions of US dollar currency reserves feeding an even that would bleed reserves unmercifully. So the "philosophy" is to wait until pressure on the peso eases then "Inject small amounts of US dollars into purchasing pesos in three hundred million dollar increments". The quote marks are verbatim.

Translated: When current pressure eases, the exchange rate "may" rebound. If the exchange rate does not rebound sometime during next month, then there is legitimate concern in Mexico about the viability (strength) of the economy. Tens of billions of dollars worth can flow out of the country and it is difficult to "detect". Banco de Mexico is claiming an insane amount of dollar currency reserves so this will be interesting no matter what.

Ever wonder how railroad boxcar quantities of US banknotes used for drug payments gets laundered? The DEA and DOJ just shut down several gigantic money laundering outfits in Central America and the peso immediately starts weakening. I feel strongly Mexican financial institutions are purchasing the dollars, and then washing them into the Mexican stock market - and splitting the profits with both the drugistas and members of gobernacion. Carteles, Bancos, Gobernacion. Three highly moral institutions.

durrelllrobert - 5-30-2013 at 09:23 AM

Quote:

Originally posted by rts551

Quote:

Originally posted by Udo

Quote:

[Edited on 5-24-2013 by Bruce R Leech]

And PEMEX gasoline is up 28% from last year:
For decades the price of gas and diesel has been subsidized by the Mexican government. In 2012 the subsidy cost over 1.6% of the GNP of Mexico and many are calling for the necessary end to the payments to PEMEX. (pronounced "Pay-mex") Economic analyst point to the dramatic affect on inflation that removing the subsidy would cause, with fuel prices rising more than 28% in one year.

durrelllrobert - 5-30-2013 at 09:28 AM

Quote:

Originally posted by rts551
Hate to pi$$ on your Pouting Party, but go price the tires in the US or pay your PG&E bill up there.

on edit: $120 (at 12.5 to 1) out the door for any BF Goodrich tire is a bargain.

Our tucson bill used to run 2-300 dollars a month. Our Baja home is off-grid so no comparison but my Gringo bud (un named) complains if he pays 400 pesos a month.

[Edited on 5-25-2013 by rts551]

I'm on the DAC rate down here which costs me about 3,000 pesos every 2 months. At my last house in the US (8 years ago} I was on a flat year round rate of $350 per month.

DavidE - 5-30-2013 at 11:11 AM

I have a friend who purchased a half million dollar estancia near Patzcuaro Michoacan. "Come visit!" he kept inviting...

So I did. December. The house was around 55 degrees at six PM. Dinner was at 6:00. Dinner in a jacket. A heavy jacket.

Awoke to 42 degrees in the room at 0500

Some folks can put up with ANYTHING if they are stubborn enough. I love to see ex-pats on the mainland. Coast. In Summer. Sitting in the shade, sweat dripping from them like all get out. "Man ain't this weather great!" they brag. Then they fall asleep for a half hour because at night they cannot sleep well because it's 90 degrees and 80 percent humidity inside the house.

Hey, it's their trip. But if they should spout to folks who don't know "The Rest Of The Story": "I live down here and no way is it too hot, what the hell do people complain about?" then I become interested. The same for cold weather. A half million dollar mansion and I had to dress in thermal underwear AND sweats, and sleep under a 10 pound pile of Mexican blankets....?

rts551 - 5-31-2013 at 11:06 AM

12.9 time to get some pesos

DENNIS - 5-31-2013 at 11:11 AM

What's up with the Peso?

http://video.cnbc.com/gallery/?video=3000154714&__source...

rts551 - 5-31-2013 at 11:35 AM

Quote:

Originally posted by DENNIS
What's up with the Peso?

http://video.cnbc.com/gallery/?video=3000154714&__source...

Oh, he is doing fine. still in Catavina. :tumble:

Bob and Susan - 5-31-2013 at 11:39 AM

11.4 to one at the border yesterday

rts551 - 5-31-2013 at 12:00 PM

Quote:

Originally posted by Bob and Susan
11.4 to one at the border yesterday

??? where? Bank gave me 12.7 yesterday.

Bajaboy - 5-31-2013 at 12:20 PM

Just wired money down to our builder today...glad I waited a week.

DavidE - 6-1-2013 at 10:20 AM

He he he, come to me and I'll find you a place that'll give you ten pesos per dollar

shari - 6-1-2013 at 10:33 AM

gotta peso...looks a little down too...he didnt even get up to ask for a peso!

Interesting! USD Is Revaluing Too Fast

DavidE - 6-2-2013 at 03:39 PM

Where's the beef? The biggest peso laundering operation in the world is shut down and then money starts flowing into the USA?

Mexico tried injecting 300M USD buying pesos on Friday and it was gobbled like a truffle in a pigpen. Time to start paying more attention I guess.