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Brian Dalziel

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Brian Dalziel last won the day on September 23 2023

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  1. Mexico's mighty peso posted biggest gains in over 30 years in 2023 By Noe Torres December 29, 2023 Source: Yahoo Finance website news MEXICO CITY, Dec 29 (Reuters) - The Mexican peso closed on Friday to end its strongest year against the U.S. dollar in more than three decades, although analysts warned its gains could slow in 2024 as the central bank is expected to lower record-high borrowing costs. The currency, which President Andres Manuel Lopez Obrador and others call the "super peso," closed at 16.95 units to the dollar with an cumulative gain of almost 13% in 2023, its strongest annual performance since 1989, when data is first available on LSEG. "The peso's appreciation this year was something unusual, something that no one could have predicted," Jonathan Heath, deputy governor at the Bank of Mexico, wrote on social media on Friday. The peso's surge made it one of the world's top performing currencies, second only to the Colombian peso, triggering warnings over how this could hurt competitiveness of Mexican exports and the purchasing power of remittances - two pillars of the Mexican economy. The peso's appreciation, closing on Friday even below the psychological barrier of 17 pesos per greenback, has been attributed to capital inflows from abroad as well as restrictive monetary policy pursued by the central bank since June 2021 aimed at tackling creeping post-pandemic inflation. Banxico, as Mexico's central bank is known, has since March held its benchmark interest rate at a record-high 11.25%, but is expected to begin cutting rates in the first quarter of 2024. Analysts argue such cuts could cause the value of the peso to weaken to above 18 pesos per dollar. Also potentially impacting the peso next year are presidential elections in Mexico and the U.S., which should inject volatility into the peso's outlook, said Humberto Calzada, chief economist at Rankia Latinoamerica. "Still, we believe that 18 (per dollar) is an acceptable level for the exchange rate," he added. end
  2. Here's an announcement published in the Guadalajara Reporter today:
  3. Congratulations to MC -- 100 pages of humor and still going strong!
  4. I have checking accounts at both banks -- can't comment on savings or investments. Multiva has good service when I deal with an agent there I know (somewhat like having a personal banker). Intercam is better when I go in and see whoever is available (Intercam agents are well trained to help all clients.) Intercam's on-line banking system is easier to use and more intuitive (on the desk-top; I don't use the smart phone apps). The Multiva branch has turned-over most of their service agents recently. I've had no financial issues with either bank in five years.
  5. Just saw this announcement posted in the "Everything Lake Chapala and Ajijic Chat Group" facebook group.
  6. When I had this problem with my Volkswagen Crossfox I discovered the battery was being drained by a small interior light that was switched on in the rear luggage storage area. That area was hidden under a cargo security cover, so I could never see that the light was on, even when it was dark outside.
  7. The IT Lake Chapala Facebook Group maintains a list of local IT service providers. They use the Dropbox file hosting service to share the list with the community: Resource Guide Updated 8/17/2023 https://tinyurl.com/ITLC-guide
  8. I agree that some banks here do not want to have USA customers. But it seems they don't say no or kick you out, but rather they make it difficult and expensive to do business with them. BBVA Bancomer now charges high fees and takes extended times to process foreign checks drawn for more than 250 dollars. It's my opinion this is their way of saying they do not want that business. BX+, Banco "Ver por mas", is expanding in the area and plans to open a new branch in San Antonio Tlay. soon. This may be an alternative bank to consider for opening a new account.
  9. There's a fundraiser coming up that has been organized to benefit Sandra Hinojosa Vergara. She's the wife of Ajijic's town delegado Maximiliano MacĂ­as Arceo and the funds will be used to help the family deal with a serious illness.
  10. If all else fails, you can obtain a "constancia de domicilio" proof of address certificate from Chapala city hall. That works for residents who do not have their name on billing documents connected with their home.
  11. This image represents my understanding of the procedures that must be followed by visitors and foreign residents entering and leaving Mexico.
  12. The instruction sheet above states, "Passports can only be delivered to a DHL store". So, having the passport sent to iShop&Mail instead -- how does that work?
  13. I understand, but cannot confirm, that renewing a USA passport from within Mexico is much faster than renewing a passport from the USA. This is due to the large backlog of passport requests that are piled up back in the states.
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