Posted 09 May 2012 - 05:47 AM
1.00 USD = 13.4831 MXN
Posted 09 May 2012 - 02:00 PM
Posted 09 May 2012 - 02:28 PM
My guess.... if the Euro collapses... many (American) expats here will be very happy, because the peso will drop and you will get a lot of pesos for your dollar. Maybe it will not collapse (there is to much at stake, also for the US then, especially with elections coming up) but it seems likely that Greece will leave the Eurozone and that will effect the Euro (thus, also the peso).
But as the moderator says..... in the long term, it might become a different story.
And.... the future is anybody's guess (I learnt to do exactly the opposite of what the specialists say).
Posted 09 May 2012 - 03:01 PM
Posted 09 May 2012 - 04:03 PM
Posted 09 May 2012 - 04:08 PM
"Most fiscally responsible countries in the world" Now that is a strech. Maybe you were not living here in 1994?
What Mexico did in 1994 was stop controlling the value of the Peso and let it float on the open market. It was a very responsible thing to do.
Posted 09 May 2012 - 04:53 PM
Whoops, not supposed to post as a moderator. Sorry about that.
It is OK we know who you are.
Posted 10 May 2012 - 11:48 AM
Posted 10 May 2012 - 12:25 PM
Posted 10 May 2012 - 06:06 PM
I'd say that it is highly possible the New Peso is stretched like a rubber band and one of these spikes started by the US stockmarket going down a bit could well just keep going. Last time it started in the last months of a Presidential administration and that's where we'll be again this fall.
I agree wholeheartedly that putting all of one's savings into a variable currency is dangerous, and that at the moment the Canadian dollar is more stable than most even if it is a loony. Swiss francs of course are 'the gold standard'. These are challenging times for wealth managers everywhere... my only suggestion is don't buy derivatives.
Posted 10 May 2012 - 06:32 PM
Posted 16 May 2012 - 08:30 AM
Bill, I am puzzled by what you wrote. I have been in Mexico since 1981. The zeros were added to the peso in the 80's, in the devaluations during the de la Madrid administration. In 1993, Salinas took the infamous zeros away and introduced what was then called the nuevo peso.
We were here (in Mexico) in the mid 90's and watched the peso go from 3 to 3000 to one.
Could you kindly clarify what you wrote?
Posted 16 May 2012 - 10:42 AM
Posted 16 May 2012 - 10:47 AM
You probably underestimate affluent Mexican's who, for many reasons, hold the majority of their assets in US dollars.
Posted 16 May 2012 - 03:31 PM
Don't get me going about homes in US prices. lol It is shear stupidity. Meanwhile with current situation regarding security most buying will be Mexicans at lakeside, if anyone, and those houses priced in US$ just went up about 10%. Imagine buying 2 months ago and closing today and you are buying in the national currency of Mexico? Good luck selling.
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