BajaNomad

today's (Monday the 22nd) Peso exchange?

John M - 4-22-2024 at 02:27 PM

Wells Fargo in the U.S. is quoting 15.97 to the dollar. Anyone with firsthand knowledge of today's rate at San Ysidro, or Calexico? Or maybe wait to Ensenada?

John M

Bajazly - 4-22-2024 at 03:01 PM

Yeah WF is just screwing you. Exrate.com is saying 17.15 today which is up from previous weeks. Gas stations here in San Felipe are back up to 16.70. WF blows as usual.

Sorry, no first had info at the border, just an observation.

AKgringo - 4-22-2024 at 03:25 PM

I used my Wells Fargo card at a Banamex ATM in the La Paz Walmart today. I declined the rate of exchange offered, and withdrew 6,000 pesos.

Even with the ATM fee and IVA added, I only paid about six dollars US more than the international exchange rate. I am pleased with that outcome.

$349.84 VS $355.89 charged to my account.

[Edited on 4-22-2024 by AKgringo]

mtgoat666 - 4-22-2024 at 03:48 PM

Quote: Originally posted by John M  
Wells Fargo in the U.S. is quoting 15.97 to the dollar. Anyone with firsthand knowledge of today's rate at San Ysidro, or Calexico? Or maybe wait to Ensenada?

John M


banks like wells fargo usually poor xchange rate. always a better deal at money change at border or withdrawal from an ATM in Mexico.

in san ysidro i recommend "Baja Mex" on E San Ysidro Bl, 2 blocks SE of 805.

More about Wells Fargo

AKgringo - 4-22-2024 at 04:11 PM

My local W.F. in Grass Valley used to keep Pesos on hand, so despite a poor exchange rate, it was worth it to me to hit the road with a few thousand pesos in my pocket rather than depending on finding a cambio open where and when I arrived at the border.

They no longer do that, so I tried another W.F. in Yuma when I got close to crossing. I found out there that the official policy of the entire chain discontinued holding foreign currency in their vaults, and it is now available only by request and a few days notice.

David K - 4-22-2024 at 05:21 PM

Never get pesos at U.S. banks... Casas de Cambio, near the border, or the Costco in Chula Vista money exchange window, are where I have been happy with the rates.

chatolj - 4-22-2024 at 06:48 PM

Ensenada last few days: mostly between 16.10 and 16.25

StuckSucks - 4-23-2024 at 08:34 AM

Screenshot 2024-04-23 at 08.33.38.png - 49kB

surabi - 4-23-2024 at 08:48 AM

That's the mid-market rate, not the rate you get when you exchange currency.

Timing makes a difference

AKgringo - 4-23-2024 at 09:51 AM

I paid for the dental work I am having done right now with a US Visa card, but my payment was rejected by the card carrier because of potential fraud.

It took a few days to verify that everything was legit (mostly due to communication difficulty) and by the time it cleared I saved fifty dollars over the first submission due to a bump up in the Dollar value.

JDCanuck - 4-23-2024 at 10:34 AM

Forex rate at present is 16.9920, which is significantly better than a week ago when it was under 16.5. Offsets will vary depending who you use to exchhnge your money.

msteve1014 - 4-23-2024 at 12:37 PM

picking up pesos at a U.S. bank is the worst rate you can get. wells fargo's rate at an atm is fine. they will all be a little different, but not much that i have seen.

ftrphb - 4-23-2024 at 04:06 PM

16.6 today in Ensenad. Always a small bit higher in San Ysidro. Santander ATM wants 15.85. the dollar has lost 26% of it's value over the last three years and three months. Thanks FJB.

lencho - 4-23-2024 at 04:13 PM

Quote: Originally posted by ftrphb  
the dollar has lost 26% of it's value over the last three years and three months. Thanks FJB.

Has the dollar gotten weaker internationally, or is it that the peso has gotten stronger?

Yeah, it kinda sucks for those living off a fixed income in foreign currency (i.e. US expats in Mexico), but isn't it good for the Mexican majority?

surabi - 4-23-2024 at 04:35 PM

"but isn't it good for the Mexican majority?"

Considering that one of the major economic sectors in Mexico is tourism, if tourists get less pesos for their dollars, and tourism goes down, no, it isn't good for those who work in the hospitality industry, and other jobs which benefit from tourism.

It also isn't good for Mexicans whose relatives send them money from the US.

lencho - 4-23-2024 at 05:15 PM

Quote: Originally posted by surabi  
Considering that one of the major economic sectors in Mexico is tourism, if tourists get less pesos for their dollars, and tourism goes down.

It also isn't good for Mexicans whose relatives send them money from the US.
Interesting points. :light:

I honestly have no idea how much attention tourists pay to variations in the exchange rate; it's never been a factor in my own decisions to head to Mexico.

As for the remisas, dunno; according to this article, they're currently at about 4% of the GDP, so some variation there doesn't seem like it'd have a huge impact on the majority population. (?)

How many of your Mexican neighbors do you know that receive a substantial part of their income from folks working in the U.S.?

Edit: FWIW, per this article, some 2% of Mexican families live off of remisas.



[Edited on 4-24-2024 by lencho]

JDCanuck - 4-23-2024 at 05:25 PM

From what my Mexican friends in Baja are telling me, they have experienced no benefit from the USD/Peso exchange rates. I surmised it was absorbed within the higher inflation they would have seen otherwise. The government debt levels in Mexico have been kept quite low relative to what we see north of there. Long term this will have a very large impact on currency valuations. Or...if you believe in Magic Money Tree economic theory, debt levels are meaningless.

[Edited on 4-24-2024 by JDCanuck]

mtgoat666 - 4-23-2024 at 05:42 PM

Quote: Originally posted by lencho  
Quote: Originally posted by ftrphb  
the dollar has lost 26% of it's value over the last three years and three months. Thanks FJB.

Has the dollar gotten weaker internationally, or is it that the peso has gotten stronger?


peso has been stronger because manufacturing investment is doing well with post-supply-chain-schock nearshoring of manufacturing, high remittances, and mexico's monetary policy keeping interest rates up.

really not much to do with USA or "FJB" (a childish term used by numbnuts knuckledraggers)

surabi - 4-23-2024 at 06:21 PM

Quote: Originally posted by lencho  



How many of your Mexican neighbors do you know that receive a substantial part of their income from folks working in the U.S.?

[Edited on 4-24-2024 by lencho]


As far as I'm aware, none of my Mexican neighbors or friends do. But I live in a thriving little touristy beach town, where most of the Mexicans seem to do well and you don't really see any of the locals living in poverty unless they're drunks or drug addicts who can't hold a job.

I always figured there would be more of those remittances being received by folks living in the kind of areas where there wasn't much work and what work there is pays Mexican minimum wage, not the 100+ pesos/hour that housecleaners and gardeners get paid where I live.

cupcake - 4-24-2024 at 10:38 AM

Quote: Originally posted by John M  
Wells Fargo in the U.S. is quoting 15.97 to the dollar. Anyone with firsthand knowledge of today's rate at San Ysidro, or Calexico? Or maybe wait to Ensenada?

John M


I crossed into TJ from San Ysidro on the 22nd. The rate at San Ysidro was 16.3 and much the same at places in downtown TJ, where rates are found between 16.0 and 16.4. My hotel in TJ is taking the US dollar in payment at 16.5

AKgringo - 4-24-2024 at 06:45 PM

Quote: Originally posted by lencho  
Quote: Originally posted by surabi  
Considering that one of the major economic sectors in Mexico is tourism, if tourists get less pesos for their dollars, and tourism goes down.

It also isn't good for Mexicans whose relatives send them money from the US.
Interesting points. :light:

I honestly have no idea how much attention tourists pay to variations in the exchange rate; it's never been a factor in my own decisions to head to Mexico.


In my case, inflation (north and south of the border) plus a strong peso has made a difference in how, and where I spend my money.

I admit in my forum signature that I could have done better if I tried, but being retired with no debt, and a fixed monthly income, I have been getting by with a few extra dollars for things like Baja runs.

This trip has been different in that I am making far fewer side trips, far fewer restaurant outings, and shop only as necessary.

Gasoline has been by far my biggest added expense.



Just a current FYI for exchange...

Howard - 4-30-2024 at 04:49 AM

Monday, April 29th at the Banco Azteca ATM in Loreto I received a rate of 16.91 pesos to the greenback.

It's great fishing weather, high 70s, no wind, flat water and a few Yellowtail. I forced a couple Margaritas down me the other night. Life is good!

charliemanson - 5-1-2024 at 01:18 PM

n my case, inflation (north and south of the border) plus a strong peso has made a difference in how, and where I spend my money.

I admit in my forum signature that I could have done better if I tried, but being retired with no debt, and a fixed monthly income, I have been getting by with a few extra dollars for things like Baja runs.

This trip has been different in that I am making far fewer side trips, far fewer restaurant outings, and shop only as necessary.

Gasoline has been by far my biggest added expense.





Good to here its not Biden fault as all the MAGAots always what to blame!

lencho - 5-1-2024 at 06:08 PM

Quote: Originally posted by charliemanson  
n my case, inflation (north and south of the border) plus a strong peso has made a difference in how, and where I spend my money.

I admit in my forum signature that I could have done better if I tried, but being retired with no debt, and a fixed monthly income, I have been getting by with a few extra dollars for things like Baja runs.

This trip has been different in that I am making far fewer side trips, far fewer restaurant outings, and shop only as necessary.

Gasoline has been by far my biggest added expense.





Good to here its not Biden fault as all the MAGAots always what to blame!

Early cocktail hour today? :lol: