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losfrailes
Senior Nomad
Posts: 577
Registered: 11-16-2004
Location: Ejido San Lucas near Santa Rosalia
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Mood: Good!
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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
Ultra Nomad
Posts: 4729
Registered: 11-15-2004
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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
Elite Nomad
Posts: 6796
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Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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the dollar is taking a dive
Bruce R Leech
Ensenada
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Diver
Ultra Nomad
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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
Senior Nomad
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Location: Ejido San Lucas near Santa Rosalia
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Not tung in cheek!
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Bob and Susan
Elite Nomad
Posts: 8813
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Location: Mulege BCS on the BAY
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"walk-in" rate at the bank yesterday was 10.87436
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losfrailes
Senior Nomad
Posts: 577
Registered: 11-16-2004
Location: Ejido San Lucas near Santa Rosalia
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BanaMex today 10.91. Less than Exchange Rate for their commission.
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Woooosh
Banned
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Location: Rosarito Beach
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When it hits 12 in a few weeks I'll be more excited.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
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Mood: gone fishin'
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11.06 @ BBVA in Loreto at noon
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oxxo
Banned
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Mood: If I was feeling any better, I'd be twins!
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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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tjBill
Senior Nomad
Posts: 516
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Do you think its a good time exchange lots of dollars to pesos? Or wait?
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Bob and Susan
Elite Nomad
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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
think of how many times i can drive up and down the coast...YUK!!!
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losfrailes
Senior Nomad
Posts: 577
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Location: Ejido San Lucas near Santa Rosalia
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XE.COM has it at 11.20 7:20 am 10/3/08. Poor peso!
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Cajones
Banned
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| 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
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?
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Bob and Susan
Elite Nomad
Posts: 8813
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Location: Mulege BCS on the BAY
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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
[Edited on 10-3-2008 by Bob and Susan]
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thebajarunner
Ultra Nomad
Posts: 3754
Registered: 9-8-2003
Location: Arizona....."Free at last from crumbling Cali
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Mood: muy amable
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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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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
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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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Hook
Elite Nomad
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Location: Sonora
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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??????  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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Bajajorge
Ultra Nomad
Posts: 2604
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Location: Topaz Lake, NV/San Felipe
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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.
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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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only for your menu jorge...
the rest of us get the "other" menu
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