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Peso Rate Alert


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Actually today's change may more likely be related to a spike in inflation.

https://finance.yahoo.com/news/mexico-inflation-ticks-december-pressure-143735732.html

Multiva's wire exchange rate was only 20 basis points under the international rate with a $10US fee earlier in the week. Got $18.87 when the international rate was $19.07. Unfortunate timing of course based on the movement since Monday.

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6 minutes ago, John Shrall said:

Actually today's change may more likely be related to a spike in inflation.

 

True, tho Gob. Diaz (somewhere in this interview yesterday) claims the CPI inflation rate will revert to target @ 3%+/- 1. within a year. If L-O actually wins, I plan a peso fiesta...

See https://www.bloomberg.com/news/videos/2017-12-20/banxico-s-diaz-de-leon-on-policy-inflation-target-video

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14 minutes ago, El Saltos said:

18.80 vs 19.50 is NOT a small percentage!

That's why anyone who wants to flexibly take a larger position in pesos (MXN) might consider an online foreign exchange account.  Spread is typically .6% or so for each trade, and you also earn decent 'rollover' interest when long the peso.  I'm building a house eventually, so I am 'saving' in pesos, but want the ability to sell or buy it opportunistically until I need the funds for real.

NB - Current rate is 19.57/USD

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4 minutes ago, tomgates said:

Angus,

Is the 19.73 a buy or a sell rate? I just posted that Visa's transactional rate today is 19.18.

Ask XE, not me.  http://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=MXN

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8 minutes ago, tomgates said:

Just went on XE and the buy rate for Mx Peso was 19.306 and the sell rate is 20.1915

Their list are "Mid-Market Rates".

What are “mid-market” rates?

Answer

The rates in our free information services are not transactional rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" transactional rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling. Consumer clients or small to medium sized businesses cannot access these rates.

Transactional ("Buy" and "sell") rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate. 

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