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wilderone
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Peso exchange rate up 3/2/20
A sharp rise to 19.81
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mtgoat666
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Investors have lost confidence in US dollar. US stocks tanking, economy stagnating, trump continuing his crazy talk,...
Super tuesday tomorrow, vote early, vote often! 
Woke!
“...ask not what your country can do for you – ask what you can do for your country.” “My fellow citizens of the world: ask not what America
will do for you, but what together we can do for the freedom of man.”
Prefered gender pronoun: the royal we
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AKgringo
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Goat, the peso is losing value against the dollar, not the other way around!
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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chuckie
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Goatley is lost in the rapture....
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DaliDali
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Quote: Originally posted by mtgoat666  | Investors have lost confidence in US dollar. US stocks tanking, economy stagnating, trump continuing his crazy talk,...
Super tuesday tomorrow, vote early, vote often! |
Buckle up cupcake before you're snatched up by those evil extraterrestrials.
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Bajazly
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But the casa de cambios haven't followed. Been 18.1 in Calexico for a while now and 17.70 in SF right now, however the Pemex rate is back up to low
mid 19, guess that is a sign the peso will be trading higher, or lower as the case may be, soon.
Believing is religion - Knowing is science
Harald Pietschmann
"Get off the beaten path and memories, friends and new techniques are developed"
Bajazly, August 2019
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bajatrailrider
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19.81 is what banks trade at you don't get that .
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Bajazly
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True but the rate for us peons usually does follow the Big Guy rate, however right now there is a larger than usual gap between the two.
Believing is religion - Knowing is science
Harald Pietschmann
"Get off the beaten path and memories, friends and new techniques are developed"
Bajazly, August 2019
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bajatrailrider
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It all depends where you go when you go. The bank rate is not even close to what we get.
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sancho
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Casa de Cambio San Ysidro today, buying dlls. at 18.579,
Bloomberg money rate at 19.446, which I assume is the
rate for business transactions. Not familiar with how much
if any the atm rate is?
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Hook
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| Quote: Originally posted by Bajazly |
But the casa de cambios haven't followed. Been 18.1 in Calexico for a while now and 17.70 in SF right now, however the Pemex rate is back up to low
mid 19, guess that is a sign the peso will be trading higher, or lower as the case may be, soon. |
They're probably not going to reflect the increase in dollar value when they bought pesos at a much lower rate.
AND they are counting on some people being ignorant of the increase in dollar value.
This is why it pays to use an ATM IF your bank gives good rates.
I'd be really interested in hearing what someone with a Schwab ATM card, using, say, a Mexican bank ATM TOMORROW AT A SPECIFIC TIME, is getting as an
exchange rate. I know all about their lack of fees. Still wondering about their exchange rate.
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baronvonbob
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Schwab Rate? curious about this?
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Howard
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Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?
I have always been under the impression that the rate is not from your bank but the ATM's bank.
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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weebray
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Check out www.priceofdollar.com for daily bank rates. Yesterday the ATM at Santander gave our Schwab card 19.55 with no atm fee. Really hard to believe
anyone still uses a casa de cambio. So 20th century.
Every beautiful beach in the world needs a few condo towers - NOT.
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Hook
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| Quote: Originally posted by Howard | Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?
I have always been under the impression that the rate is not from your bank but the ATM's bank. |
Yep, it's YOUR bank. The ATM is just issuing pesos in the amount you ask for; same currency as the country you are in. Your bank has to do the
conversion.
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wilderone
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"the Pemex rate is back up to low mid 19"
Pemex has their own problems - been losing millions for the past 4 quarters. Mexico GDP is heavily dependent on oil and gas sales. One factor
affects another (Mexico interbank interest rate is pretty high too - over 5%).
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Hook
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Dollar correcting lower today. Down around 19.2-3 right now.
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bajaguy
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Exchange set by card issuer, not bank
| Quote: Originally posted by Hook | | Quote: Originally posted by Howard | Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?
I have always been under the impression that the rate is not from your bank but the ATM's bank. |
Yep, it's YOUR bank. The ATM is just issuing pesos in the amount you ask for; same currency as the country you are in. Your bank has to do the
conversion. |
The exchange rate for international purchases and foreign ATM transactions is set by Visa® or MasterCard®, depending on your card's logo. This
exchange rate is either the wholesale market rate or a government-mandated rate on the day before the date the transaction is processed. The
processing date may differ from the date of the transaction.
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Hook
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| Quote: Originally posted by bajaguy | | Quote: Originally posted by Hook | | Quote: Originally posted by Howard | Are you sure the rate at the ATM is determined by your bank and not the bank that the ATM is issuing the Pesos?
I have always been under the impression that the rate is not from your bank but the ATM's bank. |
Yep, it's YOUR bank. The ATM is just issuing pesos in the amount you ask for; same currency as the country you are in. Your bank has to do the
conversion. |
The exchange rate for international purchases and foreign ATM transactions is set by Visa® or MasterCard®, depending on your card's logo. This
exchange rate is either the wholesale market rate or a government-mandated rate on the day before the date the transaction is processed. The
processing date may differ from the date of the transaction. |
So, basically you're saying that EVERY Visa or Mastercard ATM holder is charged the same conversion rate on the same day, irrespective of any fees?
That the financial institution has no say in the exchange RATE (not the fees)?
What about the ATMs where you are given a choice as to whom does the conversion?
[Edited on 3-3-2020 by Hook]
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Hook
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Peso, like many currencies tied to oil, in free fall, at this point.
Quotes at 21.2 to the dollar, this AM.
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