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CAD to MXN

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Post by CanuckBob on Mon Mar 23, 2020 8:41 pm

17.42 to 1. That is the highest I have ever seen it since moving here 8 years ago.

Unfortunately this will cause another big hit of inflation locally. They never seem to lower the prices when the peso strengthens.

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Post by Jreboll on Tue Mar 24, 2020 11:30 am

Are Uber and taxi drivers taking isolation precautions? I hear Uber drivers NOB are placing clear plastic sheeting separating front from back.

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Post by CanuckBob on Tue Mar 24, 2020 12:10 pm

What does that have to do with exchange rates?

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Post by lakeside7 on Tue Mar 24, 2020 12:14 pm

CanuckBob wrote:What does that have to do with exchange rates?

I guess self isolation is being to take its toll and brains are getting frazzled!!

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Post by slainte39 on Tue Mar 24, 2020 9:25 pm

CanuckBob wrote:What does that have to do with exchange rates?

Maybe where they are at, they (the drivers) exchange pesos for CAD$.

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Post by Smartalex on Tue Mar 24, 2020 11:25 pm

While that bottle of imported maple syrup is gonna cost you more pesos at Superlake, the international exchange rate will have little effect on overall inflation in Mexico. Mexican inflation, for the most part, is based upon the minimum wage paid in the state of Mexico, which is often used as a baseline for determining prices throughout the Mexican economy.
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Post by CanuckBob on Wed Mar 25, 2020 10:23 am

Not entirely accurate. Many items here are made with materials from the US hence higher price. There is also the local mentality that since the "gringos" have more pesos they can pay more and the prices get jacked up, particularly at restaurants.

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Post by Jreboll on Wed Mar 25, 2020 11:00 am

Minimum wages usually trail rate of inflation. Inflation happens on a daily basis and minimum wages are then adjusted to keep up.

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