vandenberg
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Money exchange
Something worthwhile knowing for you travelers to Loreto.
There's a sign at the bank that dollars as of April 1st will no longer be accepted for peso exchange, but have to be deposited in an account, out off
which you can withdraw your money in pesos.
According to the manager, this is to prevent speculation.
Another Mexican special.
As an afterthought,
What would prevent all the local businesses to set the exchange at 10 to 1, since there's no way to pay any other way as a tourist but in dollars.
[Edited on 4-14-2009 by vandenberg]
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CaboRon
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Don't give them any ideas 
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Bajaboy
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| Quote: | Originally posted by vandenberg
Something worthwhile knowing for you travelers to Loreto.
There's a sign at the bank that dollars as of April 1st will no longer be accepted for peso exchange, but have to be deposited in an account, out off
which you can withdraw your money in pesos.
According to the manager, this is to prevent speculation.
Another Mexican special.
As an afterthought,
What would prevent all the local businesses to set the exchange at 10 to 1, since there's no way to pay any other way as a tourist but in dollars.
[Edited on 4-14-2009 by vandenberg] |
Confused here...when I get money out of the ATM, it's in pesos? No reason to exchange dollars inside the bank.
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vandenberg
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Nothing to get confused about.
Lots of folks carry cash.
Enough for a 1 to 2 week vacation.
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dianaji
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i went to scotia bank last week and got pesos for dollars. has this changed since then?
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Bajahowodd
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Last week? Actually, the Federal Government is very worried about currency speculation right now. The rate has been bouncing around. When you stop and
consider that less than a year ago the Peso was close to 9-1, you have to wonder about speculators.
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wilderone
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currency "speculation" (foreign exchange) - it's a major source of capital for banks around the world. And it's a 24-hour market - exchanges happen
within minutes by the billions. Of course the peso will be exploited within this mechanism.
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DianaT
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| Quote: | Originally posted by vandenberg
Nothing to get confused about.
Lots of folks carry cash.
Enough for a 1 to 2 week vacation. |
But will the ATM's keep putting out pesos when the funds are drawn on a US Bank Account?
[Edited on 4-16-2009 by jdtrotter]
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