Only seems a few weeks back that the Peso vs USD rate dipped below 10 for a while. Today it sits almost 12:1 with Xe.com currently showing a mid market rate of 11.94 http://www.x-rates.com/d/MXN/USD/graph30.html http://www.cancuncare.com/Money_in_Cancun/currency_convertor.htm I've never known it go above 11 or below 10 and both have happened in the last month or so. Weird times!
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.
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?
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.
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.
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...
