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David K
Honored Nomad
Posts: 65348
Registered: 8-30-2002
Location: San Diego County
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Mood: Have Baja Fever
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Peso crashing???
Trading at 15.9 to the dollar... Has it ever been that weak in recent years?
Hope it brings more tourists to help the local economies!
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Bob and Susan
Elite Nomad
Posts: 8813
Registered: 8-20-2003
Location: Mulege BCS on the BAY
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Mood: Full Time Residents
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actually that NOT the "real" number...
you can get 15.3 pesos for the dollar at the border
last couple years it was steady at 11.5 to 12.5
so the difference from then and now is...
for every 100 bucks you exchange you get an extra 300 pesos...
that is a free dinner
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J.P.
Super Nomad
Posts: 1673
Registered: 7-8-2010
Location: Punta Banda
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Mood: Easy Does It
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Peso Crash
I had a Mexican Business person explain his version of how it affected him. He said business would raise their prices to compensate so no gain for
tourist . he remarked than when the peso Stabilized the business rarely lowered the prices back to pre crash levels. so still no gain for tourist.
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Udo
Elite Nomad
Posts: 6364
Registered: 4-26-2008
Location: Black Hills, SD/Ensenada/San Felipe
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Mood: TEQUILA!
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I did a wire transfer today to Mexico and Citibank only gave me 15.3 Pesos for my dollar.
Udo
Youth is wasted on the young!
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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USD/MXN (USDMXN=X) -CCY
15.9110 Up 0.0714(0.45%) 3:07PM EDT
"YOU CAN'T LITTER ALUMINUM"
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Hook
Elite Nomad
Posts: 9011
Registered: 3-13-2004
Location: Sonora
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It hasnt been below 13.0 in almost exactly a year.
It hasnt been as low as 11.5 since April, 2011.
It's been at 15.80-.85 a few times in the last month. This is a little bit higher. I believe it is the highest level ever.
These are all large customer rates, not the rates we consumers pay. But you get a relative sense of movement, at least.
I'm still shorting the Euro (through an ETF), but it hasnt been the easy money I was expecting 4-6 months ago. Many "analysts" were predicting the
dollar at par by the second half of 2015. Naturally, I'd like to see it get there in September.........right when we are in Europe!
I believe the dollar is at a two month high, in relation to the Euro, anyway. Most all currencies seem to move down when the dollar strengthens. The
peso has actually been a bit more stable than the Euro this year.
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StuckSucks
Super Nomad
Posts: 2366
Registered: 10-17-2013
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motoged
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Location: Kamloops, BC
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I have been told by banks that internet currency exchange rates are NOT what banks use as their conversion rate to customer....it is just the base
rate level from which they work.....and take their commission when giving exchange to customers.
I learned that after a heated exchange with a few banks....
Don't believe everything you think....
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David K
Honored Nomad
Posts: 65348
Registered: 8-30-2002
Location: San Diego County
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Mood: Have Baja Fever
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Indeed... I wanted to get some pesos before leaving on our next Baja trip without driving to Costco Chula Vista or a San Ysidro casa de cambios... and
so I went to one of those mall exchange places, 'Travelex'. It was about 10% for the service they provide. Compared to 15:1 (close to what Udo got)...
it was about 13.5:1 (pesos per dollar). Not a lot was exchanged, but just in case I couldn't stop on our trip or didn't want to, to keep things
stress-free for my bride of 7 years. SHE is the one who deserves a vacation!
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cliffh
Nomad
Posts: 325
Registered: 1-23-2010
Location: buena vista, BCS
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Santander with ATM 15.66 net tues.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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This is money market rate at the moment.....not ATM....not cambios.....not banks.
USD/MXN (USDMXN=X) -CCY
15.9280 0.0000(0.00%) 7:09PM EDT
[Edited on 7-17-2015 by DENNIS]
"YOU CAN'T LITTER ALUMINUM"
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
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Quote: Originally posted by Hook  | It hasnt been below 13.0 in almost exactly a year.
It hasnt been as low as 11.5 since April, 2011.
It's been at 15.80-.85 a few times in the last month. This is a little bit higher. I believe it is the highest level ever.
These are all large customer rates, not the rates we consumers pay. But you get a relative sense of movement, at least.
I'm still shorting the Euro (through an ETF), but it hasnt been the easy money I was expecting 4-6 months ago. Many "analysts" were predicting the
dollar at par by the second half of 2015. Naturally, I'd like to see it get there in September.........right when we are in Europe!
I believe the dollar is at a two month high, in relation to the Euro, anyway. Most all currencies seem to move down when the dollar strengthens. The
peso has actually been a bit more stable than the Euro this year. |
The weakness in the Euro is all about the Greece thing. Personally, I have never understood the Euro's strength vs. the dollar. But I can say the same
about the Pound.
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Howard
Super Nomad
Posts: 2353
Registered: 11-13-2007
Location: Loreto/Manhattan Beach/Kona
Member Is Offline
Mood: I'd rather regret the things I've done than regret the things I haven't done.
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The actual fact of the matter
On Wednesday at Bancomers ATM in Loreto = 15.69
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
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Mood: Weary
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In Your Pocket????
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Howard
Super Nomad
Posts: 2353
Registered: 11-13-2007
Location: Loreto/Manhattan Beach/Kona
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Mood: I'd rather regret the things I've done than regret the things I haven't done.
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Yes, that was the net.
My bank reimburses me for any fees.
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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Hook
Elite Nomad
Posts: 9011
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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| Quote: Originally posted by David K | | Indeed... I wanted to get some pesos before leaving on our next Baja trip without driving to Costco Chula Vista or a San Ysidro casa de cambios... and
so I went to one of those mall exchange places, 'Travelex'. It was about 10% for the service they provide. Compared to 15:1 (close to what Udo got)...
it was about 13.5:1 (pesos per dollar). Not a lot was exchanged, but just in case I couldn't stop on our trip or didn't want to, to keep things
stress-free for my bride of 7 years. SHE is the one who deserves a vacation! |
David, that's a lot to pay for convenience..........if entering a mall is EVER convenient. Or cheap.
Surely, there must be ATMs in Mexico that you can hit, regardless of your destination. Unless your bank is Chase and you keep a low balance, you will
beat the pants off that rate.
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monoloco
Elite Nomad
Posts: 6667
Registered: 7-13-2009
Location: Pescadero BCS
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The peso is not really falling, the dollar is rising relative to just about every currency. It's great for travelers but bad for US products that are
sold abroad.
"The future ain't what it used to be"
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David K
Honored Nomad
Posts: 65348
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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| Quote: Originally posted by Hook | | Quote: Originally posted by David K | | Indeed... I wanted to get some pesos before leaving on our next Baja trip without driving to Costco Chula Vista or a San Ysidro casa de cambios... and
so I went to one of those mall exchange places, 'Travelex'. It was about 10% for the service they provide. Compared to 15:1 (close to what Udo got)...
it was about 13.5:1 (pesos per dollar). Not a lot was exchanged, but just in case I couldn't stop on our trip or didn't want to, to keep things
stress-free for my bride of 7 years. SHE is the one who deserves a vacation! |
David, that's a lot to pay for convenience..........if entering a mall is EVER convenient. Or cheap.
Surely, there must be ATMs in Mexico that you can hit, regardless of your destination. Unless your bank is Chase and you keep a low balance, you will
beat the pants off that rate. |
I don't think I will ever put a card into an ATM in Mexico, unless it is an emergency. Sorry, but my debit card is used so much in my daily life
(what's cash?) that to risk it being swallowed at a bank machine while on a trip would ruin the trip. I need this vacation to be stress free. Anyway,
it was Baja Angel's idea and she was okay with the cost... that's good enough for me!
I remember ('name withheld') on a past trip report not having any trip money going across the border, planning on getting it all in Mexico at an ATM,
and his card didn't work or was lost! No thank you.
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Bob and Susan
Elite Nomad
Posts: 8813
Registered: 8-20-2003
Location: Mulege BCS on the BAY
Member Is Offline
Mood: Full Time Residents
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the best spot for a tourist to get pesos just before you cross the border
they have a drive-up...no need to get out of the car
they also sell Mexican insurance if you forgot to buy it from "bajabound insurance" online
last usa exit
buy pesos
hop back on the freeway and enter mexico
they have the best rate and no commission
they open at 7am
[Edited on 7-18-2015 by Bob and Susan]
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David K
Honored Nomad
Posts: 65348
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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Thanks Bob... need that in Calexico!
How is the weather this morning at your place?
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