Jump to content
Chapala.com Webboard

Archived

This topic is now archived and is closed to further replies.

redpepper

Peso dropping

Recommended Posts

The Guad Reporter publishes a market basket of grocery prices. Over the past 3 years there is a small increase in prices while the exchange rate of the peso has ranged from 11 to 15. Nothing drastic.

I have also noticed that the published numbers in the paper do not reflect the price I pay for items, which is always up, up, up..there is no atempt in MX to control price hikes!

Share this post


Link to post
Share on other sites
Guest bigd

When I tried to buy a turkey and ham for Thanksgiving and Christmas SOB was when I needed valium.

Share this post


Link to post
Share on other sites

Actualy, for those of us living off of US$ or C$ the exchange rate affects us more than anything.

Share this post


Link to post
Share on other sites

The Guad Reporter publishes a market basket of grocery prices. Over the past 3 years there is a small increase in prices while the exchange rate of the peso has ranged from 11 to 15. Nothing drastic.

Tom, I don't know where the Reporter is shopping, but at the tianguis where I shop regularly, prices have more than doubled. Price hikes have been pretty much out of sight since the end of 2007. Most newspapers publish government-provide "inflation" rates, but like many things in Mexico, the stats are manipulated to...well, I'm not really sure why, other than to make us think we are all nuts when our money flies out the door about three times faster than it used to.

Share this post


Link to post
Share on other sites

I remember getting a rotisserie chicken with all the sides for our first Christmas dinner in Ajijic - in 2008 - from Lupita's. It cost 55 pesos. Same chicken and sides in 2011 = 110 pesos.

Share this post


Link to post
Share on other sites

Guad Reporter compares 50 items at Soriana and Walmart.

Share this post


Link to post
Share on other sites

I remember getting a rotisserie chicken with all the sides for our first Christmas dinner in Ajijic - in 2008 - from Lupita's. It cost 55 pesos. Same chicken and sides in 2011 = 110 pesos.

And in 1999, the same package was 35 pesos.

Share this post


Link to post
Share on other sites

I remember getting a rotisserie chicken with all the sides for our first Christmas dinner in Ajijic - in 2008 - from Lupita's. It cost 55 pesos. Same chicken and sides in 2011 = 110 pesos.

Just picked up a roasted chicken at one of the Walmart's here in Puerto Vallarta. No sides but two whole chickens for $105 pesos and delicious!

Share this post


Link to post
Share on other sites

Maybe Lupita is trying to save up for retirement. The price of chicken in April 12 was $24.90/kg vs $22.50/kg in April 2010 at Soriana.

Share this post


Link to post
Share on other sites

I have no argument with the price Lupita charges for her chicken with sides and tortillas. Her chickens have always been the best in town. If she's still roasting them with potatoes under the spit, the potatoes alone are worth the price. Her rice is also delicious, as are her macaroni salad, salsa, and cole slaw.

I figure you still get a deal, even at the 2012 price. If two of you can polish off one of her chickens and everything that comes with it for comida, it's still only 55 pesos a meal, plus whatever you're drinking.

And for what it's worth, the rosticería where we buy roast chicken in our Mexico City neighborhood charges 75 pesos just for the chicken, salsa, and tortillas. No sides. But the chicken is melt-in-your-mouth delicious, tender and juicy and--oops, I might have to go get one!

Share this post


Link to post
Share on other sites

The FOREX rate for the USD vs MXN is almost 13.9 today. Anyone have a guess on where the bottom is going to be?

Share this post


Link to post
Share on other sites

Just follow my lead, about June 3rd when I have some money to deposit it will be back down to 12 something, happens every time.

Share this post


Link to post
Share on other sites

Wowza, it was below 13.7 this morning. Better go getta some more of those pesos. Something ugly must be roiling the financials late this afternoon.

Share this post


Link to post
Share on other sites

That's OK redpepper as when oil goes up so does the C$. So for some of us, hooray.

Share this post


Link to post
Share on other sites

"Here ya go Giltner68 1.00 USD = 14.0133 MXN if it can just hold out until a week from Friday."

Just watch it drop, it will probably be Tues June 5th when I pay rent and put the check in the bank, it's already down to 13.94, I've got a talent.

Share this post


Link to post
Share on other sites

And since yesterday, a very new development that might influence the value of the peso big time.

In a recent survey, AMLO appears to have a good chance now to become president of Mexico, something that nobody would have predicted a couple of months ago. That is definetly changing the value of the peso and if his chances remain high and he actually becomes president, you will see a a very important drop in its value (peso).

Something to follow up !!

Share this post


Link to post
Share on other sites

Everything happening right now is to do with the strength of the US$ as a safe haven. Even the C$ is down 5% in a month just as is the MXN pesos approx is down but that makes Canadian businesses very happy.

Polls in Mexico are highly skewed and the election is a month away.

Share this post


Link to post
Share on other sites

No, Ajijic, not anymore. You were right until 2 days ago.... Now, that is only part (Europe debt crisis) of the story.

From now on you have to watch the AMLO candidate. The markets don´t like a "left" president. This has become an internal (Mexican) affair. Very interesting times.

Share this post


Link to post
Share on other sites

Maybe some of you should look at the Mexican central bank policy on supporting the peso! That is why the peso has been dropping from 14.60 at 5 am to its current 14.27! And Mr know-it-all the lack of participation in the stock market is not the reason for the fall of the peso but rather the fear factor of the unknown which is driving investors to US bonds and GERMAN bunds!!!

Share this post


Link to post
Share on other sites

I don't know who you are calling Mr know-it-all, (surely no one on this subject;) but I would rather have my money right now in US bonds than Germany Bunds any day. BTW what is Bunds is that like bread?

As of 4:50 pm

1.00 USD = 14.3092 MXN

Share this post


Link to post
Share on other sites

×
×
  • Create New...