Peso almost at 12:1

Discussion in 'Living in Cancun' started by Steve, Oct 6, 2008.

  1. Steve

    Steve Administrator Owner

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  2. Life_N_Cancun

    Life_N_Cancun Guest

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    I'll bet the currency traders are having a field day right now with all of the movement in the world markets. I cant see the peso getting too far off the dollar seeing as how the US and Mexico are so intertwined.
     
  3. RiverGirl

    RiverGirl Guest

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    Makes me glad (this week) that I charge in dollars.
     
  4. mixz1

    mixz1 Guest

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    I've been thinking about charging in gold bars. Or maybe food.
     
  5. SamCancun

    SamCancun Guru Registered Member

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    Yeah and i just got paid yesterday and got an exhange rate of 11.1 and yesterday when we asked HSBC they were buying at 10.95! How can a bank get away with being so bloody stingy when the exchange rate is obviously 12, shouldn't they buy dollars at 11.8 or something like that! I was pretty excited when i saw that but it has to mean something bad when a currency jumps so much, volatile or what?
     
  6. Steve

    Steve Administrator Owner

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  7. Life_N_Cancun

    Life_N_Cancun Guest

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    I was at a store today that had a 12.50 exchange rate.... its a shame i dont have a stash of dollars to change while the rate is good.
     
  8. SamCancun

    SamCancun Guru Registered Member

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    It's 13.09 today, which is very worrying as the rate against the pound is now 22.62 so anyone wanting to send money home is going to get shafted this month! Couldn't have come at a worse time to be honest, anyone have any idea what they are predicting will happen as i can never find economic news about Mexico in English.
     
  9. RiverGirl

    RiverGirl Guest

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    Oh now I'm really happy that I've been hoarding dollars!
     
  10. Life_N_Cancun

    Life_N_Cancun Guest

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    I was considering buying dollars a while back when they were selling for 10 pesos.. Kinda wish I had now, but I really think that this is just a result of the general panic in the markets right now and that it will equalize to back around where it was pretty quick.

    This really sucks thou for anyone who needs to be buying dollars or pounds to pay for things...
     
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