RickS Posted April 25, 2018 Report Share Posted April 25, 2018 19.02 as we speak.... 04/25/18 Link to comment Share on other sites More sharing options...
Tiny Posted April 25, 2018 Report Share Posted April 25, 2018 And the sun came up this morning. Link to comment Share on other sites More sharing options...
RickS Posted April 25, 2018 Author Report Share Posted April 25, 2018 Yes, and hopefully it will continue that age-old tradition..... Link to comment Share on other sites More sharing options...
AngusMactavish Posted April 25, 2018 Report Share Posted April 25, 2018 I just bought dollars @ 18.2 at the casa de cambio in Chapala. Link to comment Share on other sites More sharing options...
tomgates Posted April 25, 2018 Report Share Posted April 25, 2018 18.76 at CI Banco today. Link to comment Share on other sites More sharing options...
bournemouth Posted April 25, 2018 Report Share Posted April 25, 2018 And the same at HSBC. - 18.758793184 to be exact! Link to comment Share on other sites More sharing options...
johanson Posted April 25, 2018 Report Share Posted April 25, 2018 I always look at the spot rate each day which I understand is the official exchange rate set once per day at noon by Banco de Mexico. Tom Gates can correct me here, but I understand that the spot rate is the official exchange rate set once per day before adding a fee for exchanging the funds for US dollars or visa versa, and apparently is used in real estate transactions. So what I saw as of noon today is 19.0530 pesos per US dollar which is slightly higher than the day before. My Mexican stock broker recently said that the dollar should gain strength as we get closer to the Mexican July Presidential election. Link to comment Share on other sites More sharing options...
tomgates Posted April 25, 2018 Report Share Posted April 25, 2018 Pete, The official rate as set by the Bank of Mexico is not the same as the daily rate fix by VISA. The latter rate is what I see at the ATM. Here is the site: https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/?fromCurr=USD&toCurr=MXN&fee=0&exchangedate=04%2F25%2F2018&submitButton=Calculate+Exchange+Rates Link to comment Share on other sites More sharing options...
AngusMactavish Posted April 25, 2018 Report Share Posted April 25, 2018 I pay my rent in dollars and get pesos from a Santander ATM via a US debit card at the MasterCard rate of exchange, taking them to the Casa de Cambio in Chapala for my dollar purchase. Today at 19.0, I will pay about 18.75 net and then paid 18.2 for the bucks. Link to comment Share on other sites More sharing options...
lakeside7 Posted April 25, 2018 Report Share Posted April 25, 2018 2 hours ago, johanson said: I always look at the spot rate each day which I understand is the official exchange rate set once per day at noon by Banco de Mexico. Tom Gates can correct me here, but I understand that the spot rate is the official exchange rate set once per day before adding a fee for exchanging the funds for US dollars or visa versa, and apparently is used in real estate transactions. So what I saw as of noon today is 19.0530 pesos per US dollar which is slightly higher than the day before. My Mexican stock broker recently said that the dollar should gain strength as we get closer to the Mexican July Presidential election. The market is reacting to the probability of Obrador being elected. There are some great opportunities to purchase real estate priced in pesos, and the usd continues to apprecaite Link to comment Share on other sites More sharing options...
johanson Posted April 25, 2018 Report Share Posted April 25, 2018 Thank you Tom for the great link you shared above, especially as my US credit cards are Visa cards. Link to comment Share on other sites More sharing options...
Mainecoons Posted April 26, 2018 Report Share Posted April 26, 2018 2 hours ago, lakeside7 said: The market is reacting to the probability of Obrador being elected. There are some great opportunities to purchase real estate priced in pesos, and the usd continues to apprecaite And also for some currency speculation. My broker expects an over-reaction to Obrador's election followed by a correction when the markets figure out he isn't going to blow the country up. Link to comment Share on other sites More sharing options...
snowyco Posted April 26, 2018 Report Share Posted April 26, 2018 16 hours ago, johanson said: I always look at the spot rate each day which I understand is the official exchange rate set once per day at noon by Banco de Mexico. Tom Gates can correct me here, but I understand that the spot rate is the official exchange rate set once per day before adding a fee for exchanging the funds for US dollars or visa versa, and apparently is used in real estate transactions. So what I saw as of noon today is 19.0530 pesos per US dollar which is slightly higher than the day before. My Mexican stock broker recently said that the dollar should gain strength as we get closer to the Mexican July Presidential election. Note that the 'official' Banco de Mexico rate is always at least 1 day out-of-date, because they use the previous day's currency trading values to calculate the next day's rate. This means using the 'official' rate can be off by $0.3 to $0.4 when the exchange rates are changing. XE.com has the accepted current (floating) rates, as used by the US Treasury, US IRS, many banks et al, because XE.com is the biggest trading house for MXN pesos & US dollars - reporting the exchange rate based on actual current trades. Outside of XE.com, many Mexican banks offer special daily rates for larger $$ transactions, offered as special one-time quotes, authorized by their central offices. e.g. We've gotten some special rates (significantly better than generic mid-market rates) from Scotiabank & Santander when making big wire transfers, or large cash transactions. These special rates are NOT posted at the banks, and must be requested in person. Scotiabank's local rep even calls us, when their special rates hit a target value we've asked them to track. They have had the paperwork all filled out (in advance) to execute wire transfers at the special rates for real estate transactions. ;) Link to comment Share on other sites More sharing options...
snowyco Posted April 26, 2018 Report Share Posted April 26, 2018 15 hours ago, tomgates said: Pete, The official rate as set by the Bank of Mexico is not the same as the daily rate fix by VISA. The latter rate is what I see at the ATM. Here is the site: https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/?fromCurr=USD&toCurr=MXN&fee=0&exchangedate=04%2F25%2F2018&submitButton=Calculate+Exchange+Rates Visa & Mastercard set their rates once a day ... at midnight, of the night following the date the transaction is booked. Since the merchants for a Friday purchase using Visa or Mastercard sometimes wait as long as 3-4 business days to enter the transaction into the Mastercard or Visa system, some Friday Mastercard~Visa purchases get the following Tuesday's or Wednesday's MXN:USD exchange rates. In a most recent example, a recent purchase made with Mastercard~Visa when the MXN peso was at $18:1, would be actually booked at $18.75 (4% cheaper) due to the recent exchange rates shifting so quickly. Link to comment Share on other sites More sharing options...
Tiny Posted April 27, 2018 Report Share Posted April 27, 2018 No peso report today? 😀 Link to comment Share on other sites More sharing options...
snowyco Posted May 1, 2018 Report Share Posted May 1, 2018 On 4/27/2018 at 10:44 AM, Tiny said: No peso report today? 😀 The MXN peso has been hanging back in the $18.6 - $18.7 rate, where's it's been for most of the last 4 months. https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=MXN currently lists it at $18.7219 as of the latest trade at 2:20 UTC. 5/1/2018. Link to comment Share on other sites More sharing options...
Jreboll Posted March 28, 2019 Report Share Posted March 28, 2019 Dollar index was strong today. Peso-dollar rate at 19.37 Link to comment Share on other sites More sharing options...
Jreboll Posted March 28, 2019 Report Share Posted March 28, 2019 Jonny, you get amused easily. I’ll try to use simple words next time. Link to comment Share on other sites More sharing options...
AlanMexicali Posted March 28, 2019 Report Share Posted March 28, 2019 1 hour ago, Jreboll said: Dollar index was strong today. Peso-dollar rate at 19.37 Wait until Obrador gets in gear. You should see the peso drop monthly the more dumb things he does and says. The asking the King of Spain for an official apology for the Spanish Conquistadors, 500 years ago, arriving in Mexico and conquering it made him the laughing stock of Europe this week. [ AMLO - THE NEW KING OF MEXICO ] Link to comment Share on other sites More sharing options...
lakeside7 Posted March 28, 2019 Report Share Posted March 28, 2019 Just now, AlanMexicali said: Wait until Obrador gets in gear. You should see the peso drop monthly the more dumb things he does and says. The asking the King of Spain for an official apology for the Spanish Conquistadors, 500 years ago, arriving in Mexico and conquering it made him the laughing stock of Europe this week. [ AMLO - THE NEW KING OF MEXICO ] Why this week the Peso is weaker...... when a very positive report ref auto exports..if I was a Canadian I would be wondering what is happening to their economy and Loonie and costing them 30% more to rent/buy/ live in Mexico https://mexiconewsdaily.com/news/fourth-place-in-automobile-exports/?utm_source=Mexico+News+Today&utm_campaign=51a6a33595-MNT+mar27-2019&utm_medium=email&utm_term=0_f1536a3787-51a6a33595-347994033 Link to comment Share on other sites More sharing options...
Jreboll Posted March 28, 2019 Report Share Posted March 28, 2019 Time and again we hear from anti-AMLO critics blame him for the peso evaluations when it is the value of the dollar that wags the rest of the world. Give it a rest. Link to comment Share on other sites More sharing options...
bobby brown Posted March 29, 2019 Report Share Posted March 29, 2019 5 hours ago, AlanMexicali said: Wait until Obrador gets in gear. You should see the peso drop monthly the more dumb things he does and says. The asking the King of Spain for an official apology for the Spanish Conquistadors, 500 years ago, arriving in Mexico and conquering it made him the laughing stock of Europe this week. [ AMLO - THE NEW KING OF MEXICO ] you are right ! Obrador, a true globalist, sitting on the throne of the world , HA Link to comment Share on other sites More sharing options...
AlanMexicali Posted March 29, 2019 Report Share Posted March 29, 2019 10 hours ago, bobby brown said: you are right ! Obrador, a true globalist, sitting on the throne of the world , HA No! You have it reversed. https://mexiconewsdaily.com/news/cancelling-special-economic-zones-risks-losing-billions/ "Cancelling Special Economic Zones risks losing billions: private sector Business people and associations in Michoacán and Veracruz also rejected the possible elimination of the SEZs and urged the government to reconsider its intentions. Jesús Melgoza, secretary of economic development in Michoacán, said he will meet next Monday with his counterparts from all of the states with designated SEZs in order to develop a formal proposal that they will submit to the federal government to advocate for the continuation of the zones. Michoacán Governor Silvano Aureoles said that if the government cancels the SEZs, it would be shooting itself in the foot, adding that he didn’t understand why “many officials of the current government want to destroy everything.” Link to comment Share on other sites More sharing options...
bobby brown Posted March 29, 2019 Report Share Posted March 29, 2019 Quote some have more money than others; they all want the same thing; ;"POWER" Link to comment Share on other sites More sharing options...
HookEmHorns Posted March 29, 2019 Report Share Posted March 29, 2019 16 hours ago, bobby brown said: you are right ! Obrador, a true globalist, sitting on the throne of the world , HA I think AMLO is a Nationalist. He is more concerned with Mexico and the Mexican people. Couldn't really care less about European countries. Link to comment Share on other sites More sharing options...
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