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Author: Subject: Look at the Dollar today!
losfrailes
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[*] posted on 10-2-2008 at 06:09 AM
Look at the Dollar today!


According to XE.com the official exchange rate hit 11.1118 as of 0708 10/2/08.

Dollar stronger or peso weaker???
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Diver
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[*] posted on 10-2-2008 at 06:32 AM


Peso is weaker.

Remittances from relatives in the US to Mexico has declined.
Prices of import goods have increased.
Tourism and development funds from the US have dried up.
Oil revenues/values are down and decreasing further.
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Bruce R Leech
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[*] posted on 10-2-2008 at 06:34 AM


the dollar is taking a dive



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[*] posted on 10-2-2008 at 06:43 AM


If the dollar was weakening as fast as the peso, the exchange rate would be dropping, not rising.

Was that another one of your tongue-in-cheek comments Bruce ?
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losfrailes
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[*] posted on 10-2-2008 at 08:30 AM


Not tung in cheek!
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Bob and Susan
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[*] posted on 10-2-2008 at 09:27 AM


"walk-in" rate at the bank yesterday was 10.87436



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losfrailes
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[*] posted on 10-2-2008 at 11:07 AM


BanaMex today 10.91. Less than Exchange Rate for their commission.
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[*] posted on 10-2-2008 at 11:10 AM


When it hits 12 in a few weeks I'll be more excited.



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[*] posted on 10-2-2008 at 01:53 PM


11.06 @ BBVA in Loreto at noon
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oxxo
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[*] posted on 10-2-2008 at 02:08 PM


I got 10.95 at American Express in San Jose at noon today. There are slightly better deals than this if you search around.
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[*] posted on 10-2-2008 at 02:22 PM


Do you think its a good time exchange lots of dollars to pesos? Or wait?
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[*] posted on 10-3-2008 at 05:32 AM


let's do the math...

$10,000usa at 10 to 1 gets you $100,000 mx pesos
$10,000usa at 11 to 1 gets you $110,000 mx pesos

the differance is $10,000 mx pesos

now...

diesel is $2.25 usa a gallon right now
my gas tank takes 36 gallons
that's $81.00 to fill it or $891 mx pesos at 11 to 1

so....

with my extra $10,000 mx pesos i get 11 EXTRA tanks of fuel FREE:light:

think of how many times i can drive up and down the coast...YUK!!!




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losfrailes
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[*] posted on 10-3-2008 at 06:23 AM


XE.COM has it at 11.20 7:20 am 10/3/08. Poor peso!
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Cajones
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[*] posted on 10-3-2008 at 08:55 AM


Quote:
Originally posted by Bob and Susan
let's do the math...

$10,000usa at 10 to 1 gets you $100,000 mx pesos
$10,000usa at 11 to 1 gets you $110,000 mx pesos

the differance is $10,000 mx pesos

now...

diesel is $2.25 usa a gallon right now
my gas tank takes 36 gallons
that's $81.00 to fill it or $891 mx pesos at 11 to 1

so....

with my extra $10,000 mx pesos i get 11 EXTRA tanks of fuel FREE:light:

think of how many times i can drive up and down the coast...YUK!!!


Yeah, but the annual inflation rate in Mexico is 6%. Don't you have to deduct the extra 6% you are going to pay for everything this year?

:lol:
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Bob and Susan
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[*] posted on 10-3-2008 at 09:08 AM


where did you get 6% from???

this is talking about apples and oranges...

here we just want to know if it's time to exchange some dollars to pesos...

and...

it is:light:

[Edited on 10-3-2008 by Bob and Susan]




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thebajarunner
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[*] posted on 10-3-2008 at 09:10 AM
who is your economics coach?


Quote:
Originally posted by Bruce R Leech
the dollar is taking a dive


dollar is 1.38 to euro today

in July it was just short of 1.60

better check who/what is diving
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[*] posted on 10-3-2008 at 09:16 AM


You can look at it a different way.............

The dollar has strengthed against other currencies since mid July of this year by:

Canadian Dollar 5%
Mexican Peso 8.4%
Swiss Franc 9.4%
British Pound 12%
Euro 12.7%

Source Yahoo Currency Converter
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[*] posted on 10-3-2008 at 09:31 AM


I'll just be happy with getting increased buying power when I convert dollars to pesos by using an ATM. Maybe the better strategy is to convert the pesos into real goods before the anticipated price increases.

"Flipping" dollars for pesos?????? :rolleyes: Didnt the housing industry teach anyone anything?

Peso devaluations DO happen, and faster than you can convert them back, in most cases.

BTW, what will you be EARNING on all these converted pesos you have? You gonna stick it into a Mexican Bank? NO THANKS!!!




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[*] posted on 10-4-2008 at 08:22 AM


:light:This would be a good time to invest in "White Out".
Afterall, the Mexicans are using it by the gallon now to change the prices on all the menus.:lol::lol::lol:
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[*] posted on 10-4-2008 at 11:30 AM


only for your menu jorge...

the rest of us get the "other" menu:lol::lol:




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