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JDCanuck
Super Nomad
Posts: 1676
Registered: 2-22-2020
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The Peso has been declining ever since the latest Mexican election. Looks like a lot of planned manufacturing has been put on hold or cancelled in
Northern states. Mexicans I spoke with in Baja believe it's due to distrust of the new Gov't. Still, not a bad time to be looking at buying a place
there as the USD will suddenly go a whole lot further.
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Flatfish
Newbie
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Registered: 3-18-2024
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It’s hanging around 18.8 to 19.4 lately…….
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bajatrailrider
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Mood: Happy
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I got today 18.20 ex in ensenada my Amazon card give me over 18.70
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AKgringo
Elite Nomad
Posts: 6032
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Location: Anchorage, AK (no mas!)
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I still have about 4500 of the "high value" pesos that I got in April at about 16.8 to the dollar! 
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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BajaGringo
Ultra Nomad
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Mood: Let's have a BBQ!
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X 2
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AKgringo
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19.89 Pesos to the Dollar this morning
I hope it stays right about there.....a five cent peso is an easy conversion without a calculator!
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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HeyMulegeScott
Senior Nomad
Posts: 699
Registered: 8-25-2009
Location: Orygone/Mulege
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Quote: Originally posted by lencho  |
My understanding is that the recent rise in exchange rate is due to foreign concerns about the judicial reform move.
FWIW, it it just passed the senate, so it's effectively a done deal.
As I've mentioned before, now is probably not a good time to stock up on pesos.  |
From what I'm reading the judicial reform concerns and US interest rates are what is driving it now. Seems like a good time time to me to stock up on
pesos with these rates but I spread our transfers out as a hedge.
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HeyMulegeScott
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Posts: 699
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Location: Orygone/Mulege
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I'm not planning on keeping any more than we need in the next 12 months or so in our Mexican bank account. The dollar devaluation in the last couple
of years has been pretty painful too. Time will tell.
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AKgringo
Elite Nomad
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I have mentioned this before, but it might be timely to recall my father's experience in the 1980's devaluation.
He had substantial savings in a Mexican institution because of the high interest rates they were offering. He not only lost the income from the
savings, he lost most of the principle as well.
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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Tioloco
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| Quote: Originally posted by AKgringo | I have mentioned this before, but it might be timely to recall my father's experience in the 1980's devaluation.
He had substantial savings in a Mexican institution because of the high interest rates they were offering. He not only lost the income from the
savings, he lost most of the principle as well. |
That is always on my mind with the peso. Seems like it will happen again.
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HeyMulegeScott
Senior Nomad
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This was a bleak article that came out in June after the election -
https://www.theatlantic.com/international/archive/2024/06/fa...
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