BajaNomad

Peso exchange rate up 3/2/20

wilderone - 3-2-2020 at 08:17 AM

A sharp rise to 19.81

mtgoat666 - 3-2-2020 at 08:25 AM

Investors have lost confidence in US dollar. US stocks tanking, economy stagnating, trump continuing his crazy talk,...

Super tuesday tomorrow, vote early, vote often! :biggrin:

AKgringo - 3-2-2020 at 08:32 AM

Goat, the peso is losing value against the dollar, not the other way around!

chuckie - 3-2-2020 at 09:05 AM

Goatley is lost in the rapture....

DaliDali - 3-2-2020 at 10:03 AM

Quote: Originally posted by mtgoat666  
Investors have lost confidence in US dollar. US stocks tanking, economy stagnating, trump continuing his crazy talk,...

Super tuesday tomorrow, vote early, vote often! :biggrin:


Buckle up cupcake before you're snatched up by those evil extraterrestrials.

Bajazly - 3-2-2020 at 02:07 PM

Quote: Originally posted by wilderone  
A sharp rise to 19.81


But the casa de cambios haven't followed. Been 18.1 in Calexico for a while now and 17.70 in SF right now, however the Pemex rate is back up to low mid 19, guess that is a sign the peso will be trading higher, or lower as the case may be, soon.

bajatrailrider - 3-2-2020 at 02:24 PM

19.81 is what banks trade at you don't get that .

Bajazly - 3-2-2020 at 04:09 PM

Quote: Originally posted by bajatrailrider  
19.81 is what banks trade at you don't get that .


True but the rate for us peons usually does follow the Big Guy rate, however right now there is a larger than usual gap between the two.

bajatrailrider - 3-2-2020 at 04:51 PM

It all depends where you go when you go. The bank rate is not even close to what we get.

sancho - 3-2-2020 at 07:09 PM

Casa de Cambio San Ysidro today, buying dlls. at 18.579,
Bloomberg money rate at 19.446, which I assume is the
rate for business transactions. Not familiar with how much
if any the atm rate is?

Hook - 3-2-2020 at 08:45 PM

Quote: Originally posted by Bajazly  
Quote: Originally posted by wilderone  
A sharp rise to 19.81


But the casa de cambios haven't followed. Been 18.1 in Calexico for a while now and 17.70 in SF right now, however the Pemex rate is back up to low mid 19, guess that is a sign the peso will be trading higher, or lower as the case may be, soon.


They're probably not going to reflect the increase in dollar value when they bought pesos at a much lower rate.

AND they are counting on some people being ignorant of the increase in dollar value.

This is why it pays to use an ATM IF your bank gives good rates.

I'd be really interested in hearing what someone with a Schwab ATM card, using, say, a Mexican bank ATM TOMORROW AT A SPECIFIC TIME, is getting as an exchange rate. I know all about their lack of fees. Still wondering about their exchange rate.

baronvonbob - 3-3-2020 at 06:56 AM

Schwab Rate? curious about this?

Howard - 3-3-2020 at 07:18 AM

Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?

I have always been under the impression that the rate is not from your bank but the ATM's bank.

weebray - 3-3-2020 at 07:57 AM

Check out www.priceofdollar.com for daily bank rates. Yesterday the ATM at Santander gave our Schwab card 19.55 with no atm fee. Really hard to believe anyone still uses a casa de cambio. So 20th century.

Hook - 3-3-2020 at 08:11 AM

Quote: Originally posted by Howard  
Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?

I have always been under the impression that the rate is not from your bank but the ATM's bank.


Yep, it's YOUR bank. The ATM is just issuing pesos in the amount you ask for; same currency as the country you are in. Your bank has to do the conversion.

wilderone - 3-3-2020 at 08:27 AM

"the Pemex rate is back up to low mid 19"
Pemex has their own problems - been losing millions for the past 4 quarters. Mexico GDP is heavily dependent on oil and gas sales. One factor affects another (Mexico interbank interest rate is pretty high too - over 5%).

Hook - 3-3-2020 at 08:38 AM

Dollar correcting lower today. Down around 19.2-3 right now.

Exchange set by card issuer, not bank

bajaguy - 3-3-2020 at 09:56 AM

Quote: Originally posted by Hook  
Quote: Originally posted by Howard  
Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?

I have always been under the impression that the rate is not from your bank but the ATM's bank.


Yep, it's YOUR bank. The ATM is just issuing pesos in the amount you ask for; same currency as the country you are in. Your bank has to do the conversion.


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.

Hook - 3-3-2020 at 12:40 PM

Quote: Originally posted by bajaguy  
Quote: Originally posted by Hook  
Quote: Originally posted by Howard  
Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?

I have always been under the impression that the rate is not from your bank but the ATM's bank.


Yep, it's YOUR bank. The ATM is just issuing pesos in the amount you ask for; same currency as the country you are in. Your bank has to do the conversion.


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.


So, basically you're saying that EVERY Visa or Mastercard ATM holder is charged the same conversion rate on the same day, irrespective of any fees? That the financial institution has no say in the exchange RATE (not the fees)?

What about the ATMs where you are given a choice as to whom does the conversion?

[Edited on 3-3-2020 by Hook]

Hook - 3-9-2020 at 06:41 AM

Peso, like many currencies tied to oil, in free fall, at this point.

Quotes at 21.2 to the dollar, this AM.

Calexico Jack In The Box exchange, 3/6/2020, 10 AM

AKgringo - 3-9-2020 at 08:30 AM

I stopped at the Jack in the box next to Walmart to grab a bite, and use their WIFI connection. I forgot to grab my US currency, and was surprised when the clerk told me that pesos were ok!

Here is the receipt break down;
Meal combo...…………….5.99
fund raiser donation....1.00
tax...…………….………………..49

Total...………………………...7.48
Pesos (150.00)…………….7.84
change (US)…………………..36

sounds like they gave me a pretty fair exchange rate! You do the math if it matters, I did not have to go back out to my car for more cash, and I was happy!

[Edited on 3-9-2020 by AKgringo]

Bajazly - 3-9-2020 at 01:07 PM

Last night at Calimax I got this message on the Atm which I declined and checking my bank this morning got an effective rate of 19.75. Had I accepted this, seems my pesos would have been 137.50 less due to the built in mark up of 5.5%? The ATM fee was 69.60 so I got 2500 pesos by declining this offer.

IMG_0199.jpg - 46kB

sancho - 3-9-2020 at 05:03 PM

Be nice if atm's adjacent to the border on the US side
despenced pesos with that good rate of exchange.
I understand you can withdraw dlls
at some atm's inside Mex

JZ - 3-9-2020 at 05:24 PM

Sent Western Union to someone 3 days ago.

20.0533 MXN per dollar.

Hook - 3-10-2020 at 10:32 AM

Using the posted conversion rate calculators on both the Visa and the Mastercard sites, today, shows that Mastercard is converting at 21.16 today while Visa is converting at 20.59. That's more of a spread than I would have thought.

Russ - 3-10-2020 at 11:31 AM

Got 19.88 at the bank in Mulege at the teller window today

Hook - 3-10-2020 at 02:45 PM

I got 20.18 using an ATM in town. Mastercard ATM with a credit union. Includes a Mexican ATM fee of 17.40 pesos and a "cross border fee" of 5.26 US (figured into the exchange rate, overall) on a withdrawal of 6000 pesos.

On the 6th of March, the same 6000 pesos cost me an additional 18 dollars US, due to the peso being stronger in value, to the dollar. The cross border fee was about 30 cents higher, too.

Deciding WHEN to get pesos can make a difference.

Of course, it could strengthen further tomorrow.

[Edited on 3-10-2020 by Hook]

ncampion - 3-10-2020 at 05:20 PM

Interesting, got $7000 pesos at Coppell ATM on Sunday 3/8 and it still has not posted to my US checking account as of now (3/10, 5:20pm) Maybe they're waiting for the rate to go down.

Hook - 3-11-2020 at 06:37 AM

Still trying to figure out why the Mastercard site says their exchange rate yesterday was listed at 21.15 and the rate THEY supposedly gave me, excluding fees by the ATM and my credit union, was about 20.55.

It would be nice to see a Schwab cardholder compare the rate he/she got on a specific day, to the rates listed on either the Visa site or the Mastercard site.

Here are the links, near as I can tell:

https://tinyurl.com/r74x7vz

https://www.mastercard.us/en-us/consumers/get-support/conver...

DBaja - 3-11-2020 at 08:26 AM

Ok I have a stupid question, wouldn't the peso going up on the dollar be a good thing? 1 US dollar gets you 19 pesos, now 1 US dollar gets you about 21 pesos? :?: I’m having a moment, please don’t hit me over the head!

David K - 3-11-2020 at 09:50 AM

It is a good thing for those with dollars as a dollar gets you more pesos (more value). The most immediate thing that benefits Americans is the lowering of the cost of gasoline in Baja... followed by cheaper beer, tacos, and the rest!

DBaja - 3-11-2020 at 10:32 AM

Thanks David, so the US economy/stock market takes a dip BUT the Mexican peso drops more than the dollar? :?:

bajabuddha - 3-11-2020 at 10:32 AM

Anyone who spent any time in Baja in the past when the peso went ballistic knows that as soon as the rate changes, so do the prices. I remember when the Nuevo peso started up, and just before that there were 6 (or more) price tags super-imposed over one another on a can of food. There were so many changes on menus the paper was worn out.

Bajazly - 3-11-2020 at 10:49 AM

Quote: Originally posted by David K  
...The most immediate thing that benefits Americans is the lowering of the cost of gasoline in Baja...


How about the benefit to poor people here making 1500 pesos a week and trying to feed a family and live?

In 7 months of being here I have seen the gas price fluctuate only a half a peso. Crossing back north a few times a month I have seen gas as high as $4 to last Friday at Arco it was $3.09 and the other stations about $3.25.

I guess big petro all got together and said there is nothing these people can do so we will just make bank here and everybody else can eat cake. Who could have ever seen that coming when they deregulated gas a few years ago?

David K - 3-11-2020 at 10:59 AM

Quote: Originally posted by DBaja  
Thanks David, so the US economy/stock market takes a dip BUT the Mexican peso drops more than the dollar? :?:


I will let you know what I find out if I go south next week, as I hope to.
Quote: Originally posted by DBaja  
Ok I have a stupid question, wouldn't the peso going up on the dollar be a good thing? 1 US dollar gets you 19 pesos, now 1 US dollar gets you about 21 pesos? :?: I’m having a moment, please don’t hit me over the head!


I was only responding to your question. The price of gasoline here is falling as well, with reduced demand and Russia fighting with Saudi Arabia over production adjustments to raise prices.

Hook - 3-11-2020 at 01:00 PM

Quote: Originally posted by bajabuddha  
Anyone who spent any time in Baja in the past when the peso went ballistic knows that as soon as the rate changes, so do the prices. I remember when the Nuevo peso started up, and just before that there were 6 (or more) price tags super-imposed over one another on a can of food. There were so many changes on menus the paper was worn out.



It takes a "while" for the corrections to occur. Sometimes you can take advantage of that on things that arent perishable.

Especially something like buying an outboard down here.

Gas probably wont go up. Hasnt moved much more than a fraction of a peso since the "deregulation" occurred. I have to agree with Bajalzy. It's clearly being kept up, artificially, down here. But, hey, it's expected to pay for a lot of "free" services that the locals get down here.

Mexico is going to suffer tremendously, if they dont wean themselves from dependency on oil money. EV are going to make HUGE inroads in 3-5 years time. More and more solar and wind each day. Outside of some temporary political trauma, we may have seen the last of >50 dollar barrels of oil.