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Mexican bank - US dollar account

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Koko, since the purpose of this post is to see if one can have a US dollar account here and since you say that you have one here, it might be helpful to the poster by answering the question and telling us exactly where you have this USD account. It may benefit others as well. Possibly, even an American might attempt to do the same. It would also allow you to make a helpful response. Thank you.

So I don't repeat myself, please check my post #9 for the helpful answer to your question.

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As a US citizen, I also checked in Actinver.

They have a USD fund ( ACTICOB) which invests in Bonds of Mexican govervent , Mexican comanies,and some other companies. the performance has been of going upa nd down in the range of plus or minus 3% in the pst few years. so one can win a little or lose a little in US dollars. I am looking for a 'Bank" instrument, not an investment instrument in US dollars ( Ie savings acount, a CD, etc. with a somewhat guaranteed return in US dollars) , and so far no luck.

So again, if any one has better info, please share keeping in mind the above context.

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Ariboy I do not think you will find what you are looking for "guaranteed return in US dollars"..I know Monex and Actiner have US Dollar funds, but they do not earn any interest etc..they are just "safe" havens....given the Pesos devaluation these past 12 months, these dollars if changed to day in to Pesos will have "earned" you 15% plus.. Moral to investment in Mexico keep only a minimum amount of Pesos and "bring down" you dollars as and when you need them

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What do you mean by frozen - ?

the Mexican bank did not allow you to accesss your $$$?

please explain if possible.

Sorry it took me so long to get back to you on this.

In 1981, we were visiting family in Guadalajara. We gave an uncle a ride to the bank. He said that the bank was paying really good rates on dollar deposits. He urged us to open an account. Well, if things are too good to be true, look out.

My wife said that we should have some dollars on hand because we would probably need to kick in on some funeral expenses for family in the future. She was working in banking at the time, and it would be easier to make deposits from up north to a dollar account.

Then, in August of 1982, the government was in trouble. They had banked on having an ever increasing income from the oil, but the price of oil fell like a rock. To stem the flow of foreign currency, the government froze those accounts. And there the account is.

Some people took their money out in pesos and then converted it to something tangible. But we didn't have a lot of money in the account, so we just let it ride.

Then followed devaluation of the peso. Devaluation followed devaluation. Eventually, the government lopped off a bunch of zeros and produced a new peso.

In the meantime, people with businesses had loans made from banks out of the country. Those loans had to be serviced and repaid in that foreign currency. Businesses went bankrupt. Some survived only by getting loans from family living north of the border.

It was a tough time for all.

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Tell me where that is. As I am looking for a car right now, I've done many places and there was not such a thing. No negotiation at all. They will change the rate this week for September. And guess how much more than last month it will be. As they don't have it in stock, I will have to depend on the price when the car is ready for delivery--meaning I don't know yet how much I will be paying for it.

Naosa it is At the large yellow arches. Ask for Abraham, he will tell you everything about any cars, speaks perfect English. We were just there with friends that bought 2 cars there. Jimy Diaz was the salesman.

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Naosa it is At the large yellow arches. Ask for Abraham, he will tell you everything about any cars, speaks perfect English. We were just there with friends that bought 2 cars there. Jimy Diaz was the salesman.

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Naosa it is At the large yellow arches. Ask for Abraham, he will tell you everything about any cars, speaks perfect English. We were just there with friends that bought 2 cars there. Jimy Diaz was the salesman.

Is this a used car place?

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This is a Chev used car dealer. As their cars are already on the lot, the dealer does not have to order them therefore does not adjust the price according to to exchange rate. So, that is the reason the price does not get adjusted every month. And if you have US$ and make the exchange in pesos--you get a good deal now.

We are not talking about the same thing. I order a new car, which price will be determined the day they receive the car at the exchange rate of that day. As I have pesos in my hands, which I have already exchanged years ago at a much lower rate, this becomes a lot more expensive to buy in pesos.

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quote name="colibri" post="457865" timestamp="1441753123"]Is this a used car place?

No it is a new car dealership although they do have used cars as all new dealerships have.

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