Exchange Rate

[cvchief]

The airlines are going to screw you no matter what, it's what we do..

 

[H2ODoc]

Two restaurants we visited this week charged about 16:1 if you pay in dollars. Buyer beware.

 

[DandyDon]

Two restaurants we visited this week charged about 16:1 if you pay in dollars. Buyer beware.

That's not really a BEWARE situation. Do you want to pay more for the convenience, or less for having Pesos ready. Like the old days when USD was 10 Pesos, and you could pay 80 Pesos or $10 USD - whichever was easier.

 

[THX1138]

Exchange rate 21.24 to 1 at close today.
Hit the ATM at airport and pay in Pesos.

 

[DandyDon]

No worries, I'm not a savvy currency player either as demonstrated by my last 3 private currency plays when I load a hoard of pesos at the end of each trip to get us through the first several days on the next trip.

If you really want to play the market, trade in futures. The current exchange shows one Peso = 4.7¢ but you can hedge against future values, up or down. The long range forecast doesn't show much change, tho. They're thinking the Peso will stay about the same, maybe dropping to 0.04383¢ in a year.

I think about this with my commodities? Do I want to sell my corn now, pay storage fees and sell later, or sell my corn now and buy futures. You can get in way over your head on futures, tho.

Hit the ATM at airport and pay in Pesos.

Just make sure it's a BANK OWNED ATM. Yeah, best approach for a tourist, better than taking Peso home for next time.

It's the "free" market system, for better or worse. Vendors are always going to charge what they think the market will bear.

As they should, as their primary obligation is to their stockholder owners - well, after they can take as much as possible for themselves personally.

 

[redacted]

Anybody remember the closing weeks of the old peso. Bacardi Anjeho was $1 per liter.

 

[El Graduado]

Anybody remember the closing weeks of the old peso. Bacardi Anjeho was $1 per liter.

I remember when the peso went from 12.50 to a little over 22.00 to the dollar in the summer of 1976. The next devaluations were taken in several steps during Portillo’s presidency, but taken overall, brought the peso from 22 to 150 to the dollar. But Miguel de la Madrid really lowered the boom. Under his presidency, the peso went from 150:1, to an effective rate of 2,290:1.

 

[k4kafka]

I'm watching the daily valuations, and the social unrest caused by the recent dramatic spike in gas prices. I anticipate a "shock wave" in the Mexican markets once Mr. T finally takes the oath of office.

 

[mmmbelows]

Two restaurants we visited this week charged about 16:1 if you pay in dollars. Buyer beware.

Had lunch at The Pub, nice place, decent food, nice ownrts, difference between paying bill in pesos and bill in US dollars was 75%. Really super happy I had pesos with me!

 

[Lorenzoid]

I don't think we're going to see Mexico lop off three zeros again any time soon. Those were the days indeed.