Hud Posted January 18, 2017 Report Share Posted January 18, 2017 I guess whoever said it would reach 22 by Jan. 20th either knew something or was a good guesser. Link to comment Share on other sites More sharing options...
Jim Bowie Posted January 18, 2017 Report Share Posted January 18, 2017 2 minutes ago, Hud said: I guess whoever said it would reach 22 by Jan. 20th either knew something or was a good guesser. Let's see how long Mexico lets it stay there, as I bet they are pumping dollars as fast as they can. Link to comment Share on other sites More sharing options...
Fred Habacht Posted January 18, 2017 Report Share Posted January 18, 2017 My cap one card just gave me 21.94 to 1 usd but that is close enough to 22. Too bad prices are going up faster than the peso. Fred Habacht Link to comment Share on other sites More sharing options...
Jim Bowie Posted January 18, 2017 Report Share Posted January 18, 2017 Just bought some cheese(32 oz.) in Guanajuato that was imported. It was 122p a month ago, 153p 2 weeks ago, now 196p. WOW !!! Link to comment Share on other sites More sharing options...
ned small Posted January 18, 2017 Report Share Posted January 18, 2017 Just moved some CAN to Intercam and got 16.15,not bad since XE showed 16.50 to CAN $ yesterday. Link to comment Share on other sites More sharing options...
RickS Posted January 18, 2017 Report Share Posted January 18, 2017 Went online Monday the 16th to get a Temporary Import Permit (TIP) for my foreign plated vehicle. Banjercito used a 21.97 rate when calculating my charges. Link to comment Share on other sites More sharing options...
Bookworm Posted January 18, 2017 Report Share Posted January 18, 2017 Lucky you Fred, Your post timing implies you must have done your ATM transaction (w/CapOne) about 3:36PM 1/18/17 & received 21.94 in exchange. I did a CapOne ATM transaction at 4:10PM and only received 21.718. Mind you, I'm not really complaining, but I think by that we can see just how volatile the exchange rate is, since this was only one-half hour difference. (unless, of course, the transaction location influenced the rate, even though it supposedly did not charge me a trans. fee). I did mine at Torito, where did you do yours? (and, was yours about 3:30?) Link to comment Share on other sites More sharing options...
Jim Bowie Posted January 19, 2017 Report Share Posted January 19, 2017 27 minutes ago, Bookworm said: Lucky you Fred, Your post timing implies you must have done your ATM transaction (w/CapOne) about 3:36PM 1/18/17 & received 21.94 in exchange. I did a CapOne ATM transaction at 4:10PM and only received 21.718. Mind you, I'm not really complaining, but I think by that we can see just how volatile the exchange rate is, since this was only one-half hour difference. (unless, of course, the transaction location influenced the rate, even though it supposedly did not charge me a trans. fee). I did mine at Torito, where did you do yours? (and, was yours about 3:30?) Remember, you have to pay Torito for putting in a machine for you to use; they do it for a profit, but the banks get very little. Link to comment Share on other sites More sharing options...
Fred Habacht Posted January 19, 2017 Report Share Posted January 19, 2017 The same. The rate at this moment is 21.95 so my neighbor was lucky too and she just got home...so the peso is jumping like that famous bean! Fred Link to comment Share on other sites More sharing options...
Ezzie Posted January 19, 2017 Report Share Posted January 19, 2017 Its the big "sucking" sound you hear as all the Capital leaves Mexico and heads for the US greenback. Let the fun begin. Link to comment Share on other sites More sharing options...
Bookworm Posted January 19, 2017 Report Share Posted January 19, 2017 Again Fred, interesting. (JimBowie not so much). Anyway, Fred where was this exchange rate realized, that you and your neighbor received? Link to comment Share on other sites More sharing options...
suegarn Posted January 19, 2017 Report Share Posted January 19, 2017 Unfortunately, this doesn't help Canadian expats! While you Americans can enjoy only paying 45 cents to every equivalent Mexican dollar, we are paying 60 cents to every Mexican dollar. And our dollar is only worth 75 cents to your U.S. dollar! So as the Mexicans have to raise their prices because of the strength of your dollar, we're getting slammed, especially with the cost of home rentals! $1300 USD rental is costing us almost $1725 CDN! Link to comment Share on other sites More sharing options...
Jim Bowie Posted January 19, 2017 Report Share Posted January 19, 2017 9 minutes ago, suegarn said: Unfortunately, this doesn't help Canadian expats! While you Americans can enjoy only paying 45 cents to every equivalent Mexican dollar, we are paying 60 cents to every Mexican dollar. And our dollar is only worth 75 cents to your U.S. dollar! So as the Mexicans have to raise their prices because of the strength of your dollar, we're getting slammed, especially with the cost of home rentals! $1300 USD rental is costing us almost $1725 CDN! I'm sorry our dollar is so strong. Hopefully the next US President can weaken it for you. Link to comment Share on other sites More sharing options...
suegarn Posted January 19, 2017 Report Share Posted January 19, 2017 1 minute ago, Jim Bowie said: I'm sorry our dollar is so strong. Hopefully the next US President can weaken it for you. Link to comment Share on other sites More sharing options...
traderspoc Posted January 19, 2017 Report Share Posted January 19, 2017 bancomer bank has the peso projection at 24 pesos to the dollar in four years from now Link to comment Share on other sites More sharing options...
Fred Habacht Posted January 19, 2017 Report Share Posted January 19, 2017 So, if I had a great meal and loved the service...I shouldn't feel good about it or express my pleasure because others in the world may not be getting the same food or service? Fred Habacht Link to comment Share on other sites More sharing options...
moderator-2 Posted January 19, 2017 Report Share Posted January 19, 2017 28 minutes ago, barbara habacht said: So, if I had a great meal and loved the service...I shouldn't feel good about it or express my pleasure because others in the world may not be getting the same food or service? Fred Habacht What does this have to do with the topic? Posted in the wrong place? Link to comment Share on other sites More sharing options...
tomgates Posted January 19, 2017 Report Share Posted January 19, 2017 Visa's posted rate for Jan 19 is 21.485. They drag their feet when the peso is in free fall. Link to comment Share on other sites More sharing options...
tomgates Posted January 19, 2017 Report Share Posted January 19, 2017 Currencies rise and fall. The local citizens aren't affected to a great deal since they don't buy foreign goods. Ask any European if their life is worse off with the Euro near 100, down from 150, or any Brit with the pound at 123, down from 200. Link to comment Share on other sites More sharing options...
Jim Bowie Posted January 19, 2017 Report Share Posted January 19, 2017 I don't think that the US imports gasoline to Mexico. I thought Mexico paid the US to refine the crude for them. Link to comment Share on other sites More sharing options...
pappysmarket Posted January 19, 2017 Report Share Posted January 19, 2017 From a recent Reuters article: ........ It has led to rapid reversal in energy trade between the two countries. In 2016, crude exporter Mexico will be a net oil importer from the United States for the first time as shipments of refined fuel heading south outnumber shipments of crude to the north, according to the U.S. Energy Information Administration (EIA). ..... Link to the whole article which is interesting http://www.reuters.com/article/us-mexico-usa-oil-insight-idUSKBN14B0FS Link to comment Share on other sites More sharing options...
JayBearII Posted January 19, 2017 Report Share Posted January 19, 2017 This is an on-topic reply (getting back to the original post, folks!). Just curious: I use the Banco de Mexico exchange rate to pay my Mexican landlord who lives in Guanajuato but used to live in Chicago and also has a house in northern Texas--(memo: we expat gringos are not the only ones who move around a lot!). The Banco de Mexico rate today is 21.9044. If someone thinks that is NOT the appropriate rate to use, I would appreciate hearing your argument for another source. TIA! Link to comment Share on other sites More sharing options...
pappysmarket Posted January 19, 2017 Report Share Posted January 19, 2017 That is the official rate at which you may pay in pesos for something like rent denominated in dollars. You are 100% correct and by law that is the rate a landlord must accept.......today. Link to comment Share on other sites More sharing options...
Jim Bowie Posted January 19, 2017 Report Share Posted January 19, 2017 1 hour ago, Ajijic_hiker said: Mexico imports refined oil products including gasoline from the US due to the lack of their own refineries. Then Mexico does not pay the US refineries in Texas to refine the Mexican crude for them? Link to comment Share on other sites More sharing options...
Lexy Posted January 19, 2017 Report Share Posted January 19, 2017 2 hours ago, JayBearII said: This is an on-topic reply (getting back to the original post, folks!). Just curious: I use the Banco de Mexico exchange rate to pay my Mexican landlord who lives in Guanajuato but used to live in Chicago and also has a house in northern Texas--(memo: we expat gringos are not the only ones who move around a lot!). The Banco de Mexico rate today is 21.9044. If someone thinks that is NOT the appropriate rate to use, I would appreciate hearing your argument for another source. TIA! Are you saying you're paying your landlord in pesos, each month tied to the usd/mxn exchange rate? So you pay more rent each month? I know that some Mexican landlords are asking rent in pesos tied to the current exchange rate each month. Usually the tenant is an American living on a dollar income. I doubt if any Mexican is asked for or would pay an increase in rent every month. I don't get it. How come? Since when does a tenant pay more each month for his/her rent? I know a Mexican landlord who accepts a rent check in dollars and exchanges it for pesos. The lease is in USD amount. In fact, in the Spanish version the lease says $700 usd. No pesos mentioned. However, if tenant wants to pay in pesos, landlord says tenant must pay the equivalent to $700 tied to the current usd/mx exchange rate. Either way, he gets more each month in rent. He is represented by a major realtor in Lakeside. I know of other renters with a clause in their lease that actually says the rental in pesos each month will be tied to the current exchange rate. This totally baffles me. When did a rent get tied to the current exchange rate? Answer is, when landlords and realtors got really, really greedy. This post is on-topic, I believe, as it has to do with the unprecedented exchange rate and who is doing what with it. I understand why prices are going up. The economy is terrible. But I know of no other business or commercial entity that is getting a price increase for their "product" every month tied to the exchange rate other than some landlords. Link to comment Share on other sites More sharing options...
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