utilitus Posted December 21, 2017 Report Share Posted December 21, 2017 As of 1:20p.m. Thursday (19:20 UTC), the Peso (MXN) is trading about 19.50/USD, due to an unfolding political scandal which is thought by forex traders to possibly favor Lopez Obredor. See: https://www.bloomberg.com/news/articles/2017-12-21/fresh-scandal-shakes-mexico-s-ruling-party-before-election Link to comment Share on other sites More sharing options...
Al Berca Posted December 21, 2017 Report Share Posted December 21, 2017 Got 18.8 on a U.S. Check I deposited this morning. I was pleased. Link to comment Share on other sites More sharing options...
El Saltos Posted December 21, 2017 Report Share Posted December 21, 2017 Even tho the exchange rate is 19.50? What's pleasing about that? Link to comment Share on other sites More sharing options...
John Shrall Posted December 21, 2017 Report Share Posted December 21, 2017 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. Link to comment Share on other sites More sharing options...
utilitus Posted December 21, 2017 Author Report Share Posted December 21, 2017 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 Link to comment Share on other sites More sharing options...
modeeper Posted December 21, 2017 Report Share Posted December 21, 2017 Me, I insert my card in the slot, pocket the dosh and never look back. "When America sneezes Mexico catches a cold." Link to comment Share on other sites More sharing options...
tomgates Posted December 22, 2017 Report Share Posted December 22, 2017 Visa exchange rate for Dec 22 is 19.183 Link to comment Share on other sites More sharing options...
Floradude Posted December 22, 2017 Report Share Posted December 22, 2017 Even tho the exchange rate is 19.50? What's pleasing about that? The bank take a small percentage for handling your check. At Intercam it is usually about 0.5 to 0.6 off of the official rate. Link to comment Share on other sites More sharing options...
El Saltos Posted December 22, 2017 Report Share Posted December 22, 2017 18.80 vs 19.50 is NOT a small percentage! Link to comment Share on other sites More sharing options...
utilitus Posted December 22, 2017 Author Report Share Posted December 22, 2017 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 Link to comment Share on other sites More sharing options...
AngusMactavish Posted December 22, 2017 Report Share Posted December 22, 2017 1 USD =19.7362MXN Link to comment Share on other sites More sharing options...
johanson Posted December 22, 2017 Report Share Posted December 22, 2017 I sure wish I could know when it is at it's highest. It's almost time to wire founds for 2018 from my B/A account. Any future/mind readers out there who could tell me when to buy pesos? Link to comment Share on other sites More sharing options...
carcamal Posted December 22, 2017 Report Share Posted December 22, 2017 The peso has been quoted lower than that as much as two weeks ago on XE (almost 20/1), this is not a sudden occurrence. Link to comment Share on other sites More sharing options...
AngusMactavish Posted December 22, 2017 Report Share Posted December 22, 2017 3 minutes ago, carcamal said: The peso has been quoted lower than that as much as two weeks ago on XE, this is not a sudden occurrence. Huh? http://www.xe.com/currencycharts/?from=USD&to=MXN&view=1M Link to comment Share on other sites More sharing options...
carcamal Posted December 22, 2017 Report Share Posted December 22, 2017 I see it was not higher (or lower, depending on how you look at it) than right now, but above 19 most of the month. Link to comment Share on other sites More sharing options...
tomgates Posted December 22, 2017 Report Share Posted December 22, 2017 Angus, Is the 19.73 a buy or a sell rate? I just posted that Visa's transactional rate today is 19.18. Link to comment Share on other sites More sharing options...
AngusMactavish Posted December 22, 2017 Report Share Posted December 22, 2017 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 Link to comment Share on other sites More sharing options...
tomgates Posted December 22, 2017 Report Share Posted December 22, 2017 XE has a rather large spread between the bid and ask, about 2%. Link to comment Share on other sites More sharing options...
AngusMactavish Posted December 22, 2017 Report Share Posted December 22, 2017 19 minutes ago, tomgates said: XE has a rather large spread between the bid and ask, about 2%. Care to give us evidence of that? Link to comment Share on other sites More sharing options...
modeeper Posted December 22, 2017 Report Share Posted December 22, 2017 I can! Click on both sites and see the difference. I think that's a good rate, so get to the ATM quick like a bunny, you get there late and you might lose a dollar. Link to comment Share on other sites More sharing options...
tomgates Posted December 22, 2017 Report Share Posted December 22, 2017 I have had an account with XE for years and do not use them anymore for that reason. Link to comment Share on other sites More sharing options...
tomgates Posted December 22, 2017 Report Share Posted December 22, 2017 Just went on XE and the buy rate for Mx Peso was 19.306 and the sell rate is 20.1915 Link to comment Share on other sites More sharing options...
AngusMactavish Posted December 22, 2017 Report Share Posted December 22, 2017 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. Link to comment Share on other sites More sharing options...
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