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JDCanuck
Super Nomad
Posts: 1483
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
Posts: 13
Registered: 3-18-2024
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It’s hanging around 18.8 to 19.4 lately…….
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bajatrailrider
Super Nomad
Posts: 2427
Registered: 1-24-2015
Location: Mexico
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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: 5989
Registered: 9-20-2014
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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lencho
Junior Nomad
Posts: 98
Registered: 1-16-2005
Location: Tan lejos de Dios y tan cerca de EU
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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. 
"I can normally tell how intelligent a man is, by how stupid he thinks I
am."
"...they were careful of their demeanor that they not be thought to have opinions on what they heard for like most men skilled at their work they
were scornful of any least suggestion of knowing anything not learned at first hand."
Cormac McCarthy, All the Pretty Horses
"Be kind, be patient, help others." -- Isabel Allende
"My gas stove identifies as electric." Anonymous
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BajaGringo
Ultra Nomad
Posts: 3922
Registered: 8-24-2006
Location: La Chorera
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Mood: Let's have a BBQ!
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X 2
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AKgringo
Elite Nomad
Posts: 5989
Registered: 9-20-2014
Location: Anchorage, AK (no mas!)
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Mood: Retireded
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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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lencho
Junior Nomad
Posts: 98
Registered: 1-16-2005
Location: Tan lejos de Dios y tan cerca de EU
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Mood: Somnoliento
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Now there's an
optimist, to be sure. 
Hope you're right-- having been through several devaluations, I'm less confident. 
"I can normally tell how intelligent a man is, by how stupid he thinks I
am."
"...they were careful of their demeanor that they not be thought to have opinions on what they heard for like most men skilled at their work they
were scornful of any least suggestion of knowing anything not learned at first hand."
Cormac McCarthy, All the Pretty Horses
"Be kind, be patient, help others." -- Isabel Allende
"My gas stove identifies as electric." Anonymous
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HeyMulegeScott
Senior Nomad
Posts: 699
Registered: 8-25-2009
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
Posts: 5989
Registered: 9-20-2014
Location: Anchorage, AK (no mas!)
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Mood: Retireded
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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
Super Nomad
Posts: 2187
Registered: 7-30-2014
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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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lencho
Junior Nomad
Posts: 98
Registered: 1-16-2005
Location: Tan lejos de Dios y tan cerca de EU
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Mood: Somnoliento
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MORENA consolidates power
"Judicial reform mortally wounds the opposition
The narrow legislative advantage of the PRI, PAN and MC has been undone in the discussion of the constitutional amendment. Morena now has a qualified
majority in Congress and the leadership of the minority has been called into question."
Complete article (in Spanish, use Chrome's translation function).
The continuing dominance of "left-wing" politics in Mexico cannot but affect US-Mexico relations beyond simple exchange rates.
Worth keeping an eye on.
"I can normally tell how intelligent a man is, by how stupid he thinks I
am."
"...they were careful of their demeanor that they not be thought to have opinions on what they heard for like most men skilled at their work they
were scornful of any least suggestion of knowing anything not learned at first hand."
Cormac McCarthy, All the Pretty Horses
"Be kind, be patient, help others." -- Isabel Allende
"My gas stove identifies as electric." Anonymous
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HeyMulegeScott
Senior Nomad
Posts: 699
Registered: 8-25-2009
Location: Orygone/Mulege
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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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