The peso plunged today to a record low of 17.28 to the dollar to crown a week of dismal news, including another reduction in the growth forecast for
this year, lower industrial output, sliding oil prices and worries about U.S. interest rates, China and Greece.
The Finance Secretariat yesterday reduced its forecast for growth this year to 2% to 2.8%, down from May’s figures of 2.2% to 3.2%. The Bank of Mexico
lowered its forecast last week to 1.7% to 2.5%.
When my parents first took our family to Mexico in 1957, the Peso was stable at 12.5 to one. It was still that way at least in to the late 60s.
When I took my own family on the road trip of their lifetime in February of 1986, the peso had crashed to 160 to the dollar. By the time we crossed
back into the US in late April, it had tanked to about 350 to one!
With the price fixing that seemed to be in place at the time, our dollars went so far....I could not have stayed home for what that trip cost us!Hook - 8-23-2015 at 07:29 AM
I wonder where they got the 17.28? The forex sites I use showed nothing over 17.00454 last week.
Sitting at approx. 16.98xxx this weekend.Sweetwater - 8-23-2015 at 09:37 AM
I wonder where they got the 17.28? The forex sites I use showed nothing over 17.00454 last week.
Sitting at approx. 16.98xxx this weekend.
Sites I watch have all stayed just shy of 17....
USD-MXN 16.9871 0.1839 1.09% 16:59deportes - 8-23-2015 at 10:24 AM
So then the question is, how much is a gallon of diesel in Baja? How much is a dozen eggs? How much is a gallon of milk and a pound of beef, for
comparison. The buying power of 17 pesos or a dollar!
Thanks.
[Edited on 8-23-2015 by deportes]durrelllrobert - 8-23-2015 at 11:22 AM
So then the question is, how much is a gallon of diesel in Baja? How much is a dozen eggs? How much is a gallon of milk and a pound of beef, for
comparison. The buying power of 17 pesos or a dollar!
Thanks.
[Edited on 8-23-2015 by deportes]
don't buy diesel but just purchased a carton containing 18 eggs for 25.50 pesos at Calimax. What do you pay in the US?deportes - 8-23-2015 at 12:11 PM
A dozen eggs is at 2. dollars, 34 pesos more or less, avian flu has caused the price of eggs to go up probably worldwide! estimates is that price
will continue to rise. Hook - 8-23-2015 at 03:57 PM
So then the question is, how much is a gallon of diesel in Baja? How much is a dozen eggs? How much is a gallon of milk and a pound of beef, for
comparison. The buying power of 17 pesos or a dollar!
Thanks.
[Edited on 8-23-2015 by deportes]
The increased value of the dollar versus the peso is the only thing keeping diesel even close to reasonable down here. Of course it doesnt help a
Mexican who has no dollars.
Pretty sure diesel is about 14 pesos per liter. 3.785 liters per gallon or about 53 pesos per gallon. At 16.5 thats about 3.20/gallon. At 17, about
3.11/gallon.
Lets say the dollar slides and the peso goes back to being about 13.25 or so, where it averaged for a couple years before Sept. 2014 (the start of
the current spike in dollar value). That would put diesel at almost exactly 4.00US/gallon in Mexico.
Last week, diesel averaged 2.61/gallon in the US. CA was up around 2.90. durrelllrobert - 8-23-2015 at 05:23 PM
Guess I better cash this soon?
BajaRick16 - 8-23-2015 at 08:45 PM
At the close of business on Friday, Schwab posts an exchange rate of 16.9171 with no fees whatsoever. (They reimburse any ATM fees.)Ken Cooke - 8-23-2015 at 09:14 PM
Time for a run to Baja for some Dorado Tacos!!bajabuddha - 8-23-2015 at 10:41 PM
A dozen eggs is at 2. dollars, 34 pesos more or less, avian flu has caused the price of eggs to go up probably worldwide! estimates is that price
will continue to rise.
The same as it was 5 years ago, and 10 years ago. That's the whole point of this penny-counting; peso goes up, so does prices. The exchange rate is
pretty petty compared to the fact that the wages/income of the locals DO NOT.
The Jueros count their sheckels, because by gosh they earned 'em counting them, and because there's really only two things you can do with 'em....
spend 'em or count 'em. Mean-time, folks making $8 (US) a day protest, and there's controversy. My, my.
"You die young, live much longer.
Spend your money, and sit and wonder".
...... Lyrics by Deep Purple. Nancy Drew - 9-6-2015 at 03:35 PM
Is it the peso plunging or that so much of the world money is moving into the America dollar and it is becoming so strong against other currencies.
So many currencies are down against the American dollar.
