utilitus Posted March 6, 2020 Report Share Posted March 6, 2020 Posted 7 hours ago 8 hours ago, Jreboll said: Dollar index has been dropping the last couple of weeks. I wouldn’t be surprised if the exchange rate turns around. Gonna be tough to push above 20 range, a tough resistance level. The USDMXN rate is about 20.15 (per Forex.com) at 5:20 am Lakeside, up about 3% in recent days. This is in the context of worldwide 'financial' hysteria surrounding the spreading virus, and now a fast decline of the USD against most majors, as the Fed cuts rates but other Central Banks don't. The Yen especially is rising. Gold, expressed in dollars, is 1684/troy oz, is perhaps now no longer a record in some currencies. But 'exotic' currencies like the MXN and Indian Rupee are falling along with the USD. Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted March 6, 2020 Report Share Posted March 6, 2020 Peso rate above 20 is not a decline for the dollar. It is an increase. Dollar has declined against the Euro. Quote Link to comment Share on other sites More sharing options...
utilitus Posted March 6, 2020 Author Report Share Posted March 6, 2020 Right, thus the Peso is getting whacked doubly hard by the Euro. At 7am, USDMXN is 20.35. (In case it isn't obvious, the reason some folks write posts like this is to implicitly suggest anyone interested hightail it to their preferred cambio. I'm in unfamiliar Centro CDMX and have to scare up an ATM for Mr. Schwab...) 2 Quote Link to comment Share on other sites More sharing options...
Jreboll Posted March 8, 2020 Report Share Posted March 8, 2020 Wow!! Dollar is falling in value at the same the peso is also falling faster. usdmx is 21.32. Quote Link to comment Share on other sites More sharing options...
Kiko Posted March 8, 2020 Report Share Posted March 8, 2020 Saudi is flooding the market with oil, if the price of crude plummets so does the peso. Quote Link to comment Share on other sites More sharing options...
Jreboll Posted March 9, 2020 Report Share Posted March 9, 2020 We’ll probably start seeing imported goods rising in price along with more inflation Quote Link to comment Share on other sites More sharing options...
vetteforron Posted March 9, 2020 Report Share Posted March 9, 2020 I just sent myself money using Worldremit and got 21.49 plus a 3 dollar charge. Not bad. I checked Bloomberg and their rate is 21.25 I guess world remit has not caught up with the change. Quote Link to comment Share on other sites More sharing options...
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