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Peso dropping


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#1 redpepper

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Posted 09 May 2012 - 05:47 AM

For the ones that think the USD is doomed!
1.00 USD = 13.4831 MXN

#2 redpepper

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Posted 09 May 2012 - 02:00 PM

What ever it is keep doing it, just more in our pockets that use USD's. As for the 40% that might change in Nov.

#3 elbelgicano

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Posted 09 May 2012 - 02:28 PM

I agree 100 % .... being European, I like to follow up what is happening with my savings overthere and every time there is an extra reason to worry in Europe, the Euro and the peso both drop in value, the reasoning : in times of greater uncertainty, investors avoid emerging markets (and therefore invest less, buy less stocks there.... and the currency drops).
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).

#4 Guest_bigd_*

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Posted 09 May 2012 - 03:01 PM

"Most fiscally responsible countries in the world" Now that is a strech. Maybe you were not living here in 1994?

#5 moderator-2

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Posted 09 May 2012 - 04:03 PM

Whoops, not supposed to post as a moderator. Sorry about that. :)

#6 Atlas

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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.

#7 Ajijic

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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. :D

Nationalizing NAFTA and non-NAFTA made cars without leaving your home regardless of where you live in Mexico. Full refund if documents do not arrive.


#8 tomgates

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Posted 09 May 2012 - 05:19 PM

Peso goes over 13 to the US$, go convert $
Tom

#9 Mainecoons

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Posted 09 May 2012 - 06:09 PM


It is OK we know who you are. :D


You just think you do! :)

#10 Mainecoons

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Posted 09 May 2012 - 06:14 PM

Big D, this ain't 1994.

http://online.wsj.co...1_20110323.html

#11 Guest_bigd_*

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Posted 10 May 2012 - 10:28 AM

Big D, this ain't 1994.

http://online.wsj.co...1_20110323.html

You are correct. I probably should take my meager lifes saving and go buy pesos? Viva Mexico

#12 tomgates

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Posted 10 May 2012 - 11:48 AM

If you were of a mind to have all your money in one currency (big mistake, IMO), put it all in the Canadian $.
Tom

#13 giltner68

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Posted 10 May 2012 - 12:25 PM

If you want to make money here, watch what day I deposit a check, wait until the next day and the exchange rate almost guaranteed to jump .2, .4 or more, happens every time. Happened Tues, XE was at 13.24, they were going to give me 12.87 at the bank, I talked them into giving me 13.04 - next day XE was 13.5, don't doubt my ability to spike the market exchange rate.

#14 BillinaBus

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Posted 10 May 2012 - 06:06 PM

We were here (in Mexico) in the mid 90's and watched the peso go from 3 to 3000 to one. The ramifications effect life in very strange ways. The solution was to recall all the money and give out New Pesos which is what we called today's money for almost a decade. That's closer to Argentine fiscal policy than a responsible country's. The peso got devalued from the policies of 'the most fiscally responsible country in the world'? Or do you think Mexico is now more open and transparent in how they deal with financial matters? Really? They had Harvard and Princeton PhD's running things then too.

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.

#15 Mainecoons

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Posted 10 May 2012 - 06:32 PM

Yes, put your money in the Looney. It will stay frozen like most of the Canada most of the time. Just joking folks, don't get yer knickers in a knot. Canada is one of the most gorgeous countries on the planet, just a bit chilly at times. Otherwise, we'd be living there, quite frankly. The U.S. is in deep doo doo regardless of who is sitting in the White House. Ya can't borrow 40 percent of your national budget year after year and stay in business. This isn't rocket science.

#16 Happy Feet

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Posted 16 May 2012 - 07:30 AM

Peso dropping even more. Good time to change dollars.

#17 More Liana

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Posted 16 May 2012 - 08:30 AM

We were here (in Mexico) in the mid 90's and watched the peso go from 3 to 3000 to one.

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.

Could you kindly clarify what you wrote?

#18 tobyjug

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Posted 16 May 2012 - 10:42 AM

Drat..This Peso devalution trend could lock out pending Mexican home buyers

#19 tomgates

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Posted 16 May 2012 - 10:47 AM

Tobyjug,
You probably underestimate affluent Mexican's who, for many reasons, hold the majority of their assets in US dollars.
Tom

#20 Ajijic

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Posted 16 May 2012 - 03:31 PM

Peso is not dropping. The US$ is rising. Monitor it against the C$ as well and you will see US$ rising.

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.

Nationalizing NAFTA and non-NAFTA made cars without leaving your home regardless of where you live in Mexico. Full refund if documents do not arrive.





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