U.S/Peso exchange rate

The peso was 13.73 yesterday and it just hit 14.01 today!

It's like getting a raise!

Going to the ATM today. Free money.

Before you go to the ATM you might want to take a look at the linked exchange rate graph for the month. While it's always a crap shoot, well ... take a look. http://www.exchangerate.com/currency-charts/USD/MXN/last-30-days

Your point would be?

My point would be, rather than exchanging dollars for pesos today one might get a better rate by waiting a few days.

Like not selling Facebook on Monday at 41, 'cause - hey, it's gotta go higher than that.

I think the Mexican government is committed to holding it under 14:1. When the rate spikes above 14:1 the Mexican central bank will step in to bring the rate down.

oncesubtle wrote:My point would be, rather than exchanging dollars for pesos today one might get a better rate by waiting a few days.

Maybe so but is it worth the risk or the wait? It could be back at 13.75 tomorrow. Or look at it this way: the difference when withdrawing $5000MX from your NOB $ account @ 13.75 vs 14.0 is only $6. I'll be happy if it holds to an average of 13.5 for the rest of the year.

Well like I said, it's a crap shoot.

The MOD is posting? Are MODS allowed opinions? Just kidding. Gotta be tough having two personas!

Yeah, had all the best intentions but in my second post I wanted to add a link and couldn't do that as a newbee, so I had to switch. Then I had to stay with it to answer the posts relating to the second post. It isn't easy being me, myself or I.

David wrote:

oncesubtle wrote:My point would be, rather than exchanging dollars for pesos today one might get a better rate by waiting a few days.

Maybe so but is it worth the risk or the wait? It could be back at 13.75 tomorrow. Or look at it this way: the difference when withdrawing $5000MX from your NOB $ account @ 13.75 vs 14.0 is only $6. I'll be happy if it holds to an average of 13.5 for the rest of the year.

There is so little money involved whether the exchange rate is 14, 13.5, 13 or less doesn't make much diffrence unless you're changing tens of thousands of $$$ for a construction project.

Difference between exchange rates of 13 and 14 in $USD terms when buying $5000Pesos is $27.48. You often label others as "rich." I'm not rich and I don't find $27.48 to be "so little money." Interesting that it doesn't matter to you.

David: I'm with you! i pay my rent in pesos to my Canadian landlords. And, more importantly, i buy my vodka with pesos! And this month i have to renew my FM3...or whatever it's called these days. i be happy, happy about this exchange rate, and plan to stock up on my essentials and non-perishables....booze, toilet paper, cat food, and cigarettes!

My needs are simple. My wants are few. But i DO love me some great exchange rates!

David wrote:Difference between exchange rates of 13 and 14 in $USD terms when buying $5000Pesos is $27.48. You often label others as "rich." I'm not rich and I don't find $27.48 to be "so little money." Interesting that it doesn't matter to you.

It matters to me and it should matter to John,I mean for christ's sake he's still trying to sell that"hardly worn pair of brown boots size 7"for 400 pesos.

A couple of years back it went to 15.4! I bought some new patio furniture and a new big screen tv. BTW, thanks go to John for the great tip on the Sony store!

David wrote:A couple of years back it went to 15.4! I bought some new patio furniture and a new big screen tv. BTW, thanks go to John for the great tip on the Sony store!

does it go higher than 14:1 very often?

Nope. All you gotta do is check and exchange rate site such as yahoo.

http://finance.yahoo.com/echarts?s=MXN%3DX+Interactive#symbol=;range=5y;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

David wrote:Nope. All you gotta do is check and exchange rate site such as yahoo.

http://finance.yahoo.com/echarts?s=MXN%3DX+Interactive#symbol=;range=5y;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

I have been watching.... I was hoping The Canucky Bucky might get to 14:1... then I would start wiring money!!