Exchange Rate

[Dave Dillehay]

Today I observed a street change house with a sign showing 19.35 pesos to the US Dollar. No surprise there…but the rate for the Euro was at 19 to one. For the first time I ever remember-- the Euro was worth less than the US Dollar. Just thought you might want to know.

Dave Dillehay
Aldora Divers

 

[JohnN]

Today I observed a street change house with a sign showing 19.35 pesos to the US Dollar. No surprise there…but the rate for the Euro was at 19 to one. For the first time I ever remember-- the Euro was worth less than the US Dollar. Just thought you might want to know.

Dave Dillehay
Aldora Divers

I always use xe.com as my exchange reference, it shows the Euro is worth $1.04. Agreed, the lowest it has been in quite a while (and the MXN/$ is 21.07) so that change house is taking a pretty good cut

 

[Dave Dillehay]

Isn't the "official" exchange rate always different than the street price everyplace in the world, and based on huge transfers of money? Just a question.

Dave Dillehay
Aldora Divers

 

[JohnN]

Isn't the "official" exchange rate always different than the street price everyplace in the world, and based on huge transfers of money? Just a question.

Dave Dillehay
Aldora Divers

In my (somewhat) limited experience, I get very close to the "official" exchange rate when using an ATM or credit card.

 

[Dave Dillehay]

Agreed! Yes, my credit card purchases usually reflect better exchange rates than on the street. I have not checked which cards are better but I suspect that most are competitive in that regard. The few that don't charge extra for foreign purchases are my favs…AmEx is not among those.

Dave Dillehay
Aldora Divers

 

[CamC]

You think the Euro's bad, you should see the pound!

I remember the Euro's 2001/2 plummet below dollar parity as if it was yesterday. Between the introduction of the Euro and Y2K it was a great time to be in computing.

 

[mmmbelows]

Today I observed a street change house with a sign showing 19.35 pesos to the US Dollar. No surprise there…but the rate for the Euro was at 19 to one. For the first time I ever remember-- the Euro was worth less than the US Dollar. Just thought you might want to know.

Dave Dillehay
Aldora Divers

The two worst performing currencies of 2016 were the Mexican Peso followed by the British Pound. Trump's election win, the Fed's raising of interest in December and the promise of 3 more raises this year only means the dollar will likely be stronger as foreign countries pour currency in to the dollar in search of safety and higher returns available than anywhere else. The pound is widely believed to be oversold, plus England will likely be raising rates to combat inflation in 2017 so it's likely the pound will rise, the dollar will rise and the euro will fall even more in 2017. No matter what, foreign travel is a crazy bargain!! Great time for US citizens to travel the world, it was awesome in 2016 and most likely will just get more awesomer in 2017.

 

[gopbroek]

On the flip side I think Mexico is going to loose control on inflation, I am not a savey investor, but that is my gut feeling.

 

[DandyDon]

Google is showing the Euro to be worth $1.04 USD, but on the streets of Cozumel - they seem to have a different view. Perhaps because so much is tied to USD, while the Euro is a less relevant currency?

I still remember the trip when the USD was trading at 10 MXN, and there was talk of going to 9 on the streets.

 

[fishi]

Do they except Bitcoin in Coz?