BajaNomad

Peso Strengthened Today - Withdraw USD?

MitchMan - 2-17-2016 at 10:29 AM

It's 9:30am PST in Southern California. Just noticed that the exchange rate went from 18.9 to 18.1. The Visa Rate for the day is set at 18.8. Might be a good time to withdraw USD from Mexican ATMs.

I don't know for sure because I do not know what the actual real time exchange rate is at a Mexican ATM at this moment. But, if you can get a balance of your USD bank acct in equivalent pesos (at a Mexican ATM), then do the calculation of the exchange rate and you may well find that may be able to withdraw pesos on that USD bank acct to your advantage.

Do not consider this as actionable advice; just my guess. Check it out for yourself before you do anything affecting your USD checking account. Take into account that the rate may change to further strengthen the peso or it may swing back and weaken beyond 18.8. It's always a gamble, and when you gamble, you take full responsibility yourself for your gains and losses.

[Edited on 2-17-2016 by MitchMan]

[Edited on 2-17-2016 by MitchMan]

Udo - 2-17-2016 at 10:38 AM

Thanks, Mitch!

micah202 - 2-17-2016 at 11:46 AM

.

....I suggest everyone leaps off a cliff,,,, but it could be dangerous,,, so be careful, and decide for yourself what's the right thing to do! :biggrin::P;)


.

bajagrouper - 2-17-2016 at 02:08 PM

In Puerto Vallarta yesterday at Banamex I got 19.01.......20 coming soon.......

Maron - 2-17-2016 at 03:38 PM

Interesting

Thks

elfbrewery - 2-17-2016 at 03:39 PM

If you want to drive yourself crazy, look at this site --

http://www.eldolar.info/en/mexico/dia/hoy

It actually does help ya pick where to get pesos... and it has a historical option as well. I don't look at the numbers at the top, just at the banks.

It's always a gamble trying to stock up on currency when you don't need it right away.

elfbrewery - 2-17-2016 at 03:42 PM

Forgot to mention that when I use my VISA credit card to withdraw pesos, I get the average buy/sell rate.

monoloco - 2-17-2016 at 05:34 PM

Quote: Originally posted by MitchMan  
It's 9:30am PST in Southern California. Just noticed that the exchange rate went from 18.9 to 18.1. The Visa Rate for the day is set at 18.8. Might be a good time to withdraw USD from Mexican ATMs.

I don't know for sure because I do not know what the actual real time exchange rate is at a Mexican ATM at this moment. But, if you can get a balance of your USD bank acct in equivalent pesos (at a Mexican ATM), then do the calculation of the exchange rate and you may well find that may be able to withdraw pesos on that USD bank acct to your advantage.

Do not consider this as actionable advice; just my guess. Check it out for yourself before you do anything affecting your USD checking account. Take into account that the rate may change to further strengthen the peso or it may swing back and weaken beyond 18.8. It's always a gamble, and when you gamble, you take full responsibility yourself for your gains and losses.

[Edited on 2-17-2016 by MitchMan]

[Edited on 2-17-2016 by MitchMan]
It might fluctuate day to day but over the long term it only goes one way. Better to keep your dollars until you need the pesos.

bajabuddha - 2-17-2016 at 05:41 PM

Anyone look at a calendar lately? One thing is eternal; the migration of the gray-feathered Snow Geese. Towards 1st-of-March-ish they all start their northern flow up the Highway 1 corridor, and each will land somewhere along the route to exchange their pesos into USDs or CDs. As sure as the summers are too warm to handle, the peso will re-value this time of year so they don't have to pay OUT as much money as the geese had to pay IN. Seen it every season. As certain as the tides, and the palm trees on Coyote Beach.

(my edit) Oh yeah.. you can hang on to them (your pesos) instead and bring 'em back next year; i'll guarantee they'll be worth even less! Promise! I still have a wad from two years ago that was worth about a first tank of gas, now i'll get half a tank instead. :lol:

[Edited on 2-18-2016 by bajabuddha]