BajaNomad

Peso

Phil C - 2-10-2016 at 01:29 PM

Creeping up on 19........

DENNIS - 2-10-2016 at 01:31 PM



Yep.

USD/MXN (USDMXN=X) -CCY 
18.8745 Up 0.0716(0.3800%) 3:30PM EST

Bajahowodd - 2-10-2016 at 05:53 PM

In some way this just does not make sense, unless you factor in the dramatic decline in the price of crude oil.

The US dollar has firmed against many currencies, and the domestic result is the stock market tanking. Go figure.

At the end of the day, I think that given NAFTA, it will be a boon to Mexico.

SFandH - 2-10-2016 at 06:01 PM

For several recent years the peso was at 12.5 or so per dollar.

19 pesos per dollar is 52% more pesos per dollar.

Nice if your income is dollars and you spend pesos.

Hope my arithmetic is not wrong and I know the actual exchange rate can be lower and mex prices rise. But still......

[Edited on 2-11-2016 by SFandH]

Tioloco - 2-10-2016 at 06:27 PM

Seems as though everything I buy is adjusted to reflect the USA dollar. Except electricity and water

For your inquiring minds about the peso...

Howard - 2-12-2016 at 06:34 AM

Netted 18.62 pesos to the $ using my ATM at Bancomer in Loreto yesterday.

As usual, about .5 pesos less than the rates you see on the Internet currency sights. As I've said before, the posted sights are meaningless to us peons, the only thing that matters is what you actually receive.

By the way, lots of blue whales arriving daily!

pacsur - 2-12-2016 at 08:04 AM

19.03 Santander online yesterday morning Thursday February 11.

Foreign exchange rates

bajaguy - 2-12-2016 at 08:25 AM

It's not the bank you are withdrawing from...........

Who sets the exchange rates for foreign ATM withdrawals with my ATM card and for international purchases with my bank credit and debit cards?

The exchange rate for international purchases and foreign ATM transactions is set by Visa® or MasterCard®, depending on your card's logo. This exchange rate is either the wholesale market rate or a government-mandated rate on the day before the date the transaction is processed. The processing date may differ from the date of the transaction.

Udo - 2-12-2016 at 02:12 PM

The Mexican business people have made some fast price adjustments as the Peso declines to the USD. Several constants have yet to change...Mexican gas, electricity, and city water.
All other prices have seen a marked increase in sales price. Is the $25.00 Peso taco that far away?

The US papers are commenting that travel to Mexico is now such a bargain because of the devaluation...
Yes, IF prices remained at 14-1.

Peso rate

bajaguy - 2-12-2016 at 04:07 PM

Both COSTCO and Sam's Club in Ensenada are posting 1USD = 18.80 pesos rate today.

Bajahowodd - 2-12-2016 at 05:30 PM

Incredible as the US stock market tanks.

I;m thinking it is a scheme of the ultra rich to control the stock market.

At the end of the day, the lower value of the peso v the dollar will increase Mexico's export volume.

rts551 - 2-12-2016 at 05:35 PM

19.3 on my credit card today at the Fereteria.

Bob and Susan - 2-12-2016 at 05:40 PM

Quote: Originally posted by bajaguy  
Both COSTCO and Sam's Club in Ensenada are posting 1USD = 18.80 pesos rate today.


that's only for the stuff you buy not exchange for cash pesos

bajaguy - 2-12-2016 at 05:54 PM

I specifically refrained from stating it was the "exchange" rate
Quote: Originally posted by Bob and Susan  
Quote: Originally posted by bajaguy  
Both COSTCO and Sam's Club in Ensenada are posting 1USD = 18.80 pesos rate today.


that's only for the stuff you buy not exchange for cash pesos

KurtG - 2-13-2016 at 02:57 AM

Yesterday I saw Cambios in Ensenada selling at 18. My net on Pesos from ATM yesterday was 18.3. This does help my travel budget, I stay and eat at places that have a Mexican customer base and prices have not gone up. My room tonight at Hotel Ballenas in Guerrero Negro is the same 380 Pesos as it was last Oct. Last night at the Hostel Sauzal in Ensenada a comfortable bed and breakfast was still 250 pesos same as last couple of years.

mtgoat666 - 2-13-2016 at 07:34 AM

Quote: Originally posted by Bajahowodd  

At the end of the day, I think that given NAFTA, it will be a boon to Mexico.


Certainly not a boon to USA working class.
Just this week we see Carrier is shutting down a mfg plant is USA and shipping the jobs to Mexico.
Net result is USA workers going on unemployment, then welfare, and USA owner class still collecting dividends,... Income inequality increases just a tiny bit more.

You going to vote for Bernie or the Politicians owned by corporations and ownership class? 9voting for trump is just silly, so not presumed to be relevant to the question)

dtbushpilot - 2-13-2016 at 07:40 AM

Quote: Originally posted by mtgoat666  
Quote: Originally posted by Bajahowodd  

At the end of the day, I think that given NAFTA, it will be a boon to Mexico.


Certainly not a boon to USA working class.
Just this week we see Carrier is shutting down a mfg plant is USA and shipping the jobs to Mexico.
Net result is USA workers going on unemployment, then welfare, and USA owner class still collecting dividends,... Income inequality increases just a tiny bit more.

You going to vote for Bernie or the Politicians owned by corporations and ownership class? 9voting for trump is just silly, so not presumed to be relevant to the question)


Does this thread need to go political too goat? How about sticking to the topic? When this thread goes in the toilet remember that it was you not DK that cast the first lure..

DENNIS - 2-13-2016 at 08:01 AM


Closed out yesterday:


USD/MXN (USDMXN=X) -CCY 

18.9092 0.0000(0.00%) 7:55AM EST
==============

Usually the weekend close tends to be on the cautious side allowing for world-wide tragedy to take place before opening bell on Monday.
My guess .........it will jump to a solid 20+ on Monday.

willardguy - 2-13-2016 at 09:54 AM

Quote: Originally posted by KurtG  
Yesterday I saw Cambios in Ensenada selling at 18. My net on Pesos from ATM yesterday was 18.3. This does help my travel budget, I stay and eat at places that have a Mexican customer base and prices have not gone up. My room tonight at Hotel Ballenas in Guerrero Negro is the same 380 Pesos as it was last Oct. Last night at the Hostel Sauzal in Ensenada a comfortable bed and breakfast was still 250 pesos same as last couple of years.


absolutely, its really all about where you choose to spend your peso's isn't it?
at least in the rosarito area, the bars and restaurants that haven't raised there prices are playing to packed houses, making it up in volume!:yes:

Cancamo - 2-13-2016 at 11:29 AM

Put 200 pesos on my TelCell phone online a couple days ago, was charged $10.79. (US)
As stated above, motels, eateries, public transportation, museum and theater admission, etc... that cater to locals are much cheaper now for those converting US dollars, especially in the interior of the Republic.

MitchMan - 2-13-2016 at 11:38 AM

There are 3 different rates that are correlated: Actual real time market rate, Visa internet rate, the actual ATM withdrawal rate.

All things being normal, the actual market rate is usually higher than the internet Visa rate which is usually higher than the actual ATM withdrawal rate.

As a reference rate, I look to the "Visa Exchange Rates Calculator" on the internet:
http://apps.usa.visa.com/personal/card-benefits/travel/excha...

That rate is usually only a 1 day static rate that is set once per day for the entire day and is usually higher by at least 6 or 7 centavos per dollar than the ATM withdrawal rate (but can be up to 30 centavos higher):

Internet Visa Rate 19.12
ATM withdrawal rate -19.06
Net in centavos 0.06

Sometimes your ATM withdrawal rate can be higher than the internet Visa rate if there is a downward rate trend going on in the real time currency market and the Visa credit card department guesses wrong.

One day last year, I was watching the real time market and the Visa internet rate and I checked the ATM withdrawal rate in the morning. Then about 3 hours later, I noticed that the real time market rate took a sudden daytime drastic down turn. I went back to the ATM to make a withdrawal to take advantage of the ATM rate that was much higher than the actual market rate at that moment. BUT, “inexplicably” the ATM was “out of service” for about 2 hours. When it came back into service, the ATM rate had changed much lower than it had been earlier that day. However, now and then, you can catch the rates in your favor…not often though.

Mexico doesn’t get a whole lot right, but the banks efficiently watch these things very closely to their benefit.

Howard - 2-13-2016 at 11:45 AM

Thank you for the clarification.