156 replies to this topic

[richsinc]

UBOC:

The Mexican peso fell on Tuesday amid concerns over the country's political stability after leftist candidate Andres Lopez Obrador raised the prospect of never accepting defeat in last week's presidential election. Lopez Obrador, the former mayor of Mexico City, has asked an electoral court to reverse a narrow victory by conservative Felipe Calderon, of the ruling National Action Party, or PAN. Obrador, who lost by less than a percentage point, is also calling on his supporters to take part in mass protests this week to call attention to his claims that the vote count was manipulated in favor of Calderon.

Indicative Rates:
USD/JPY 114.36
USD/CHF 1.2293
USD/CAD 1.1319
USD/MXN 11.0260
EUR/USD 1.2747
GBP/USD 1.8411
AUD/USD 0.7514
NZD/USD 0.6138
USD/TWD 32.448
USD/CNY 7.9890

[bigloudj]

For the info rich, I always look forward to them....
Now if you could tell us which casas de cambio have the BEST exchange rates in TJ.

[richsinc]

Hi biglou;

I don't buy Pesos very often as Ley gives a pretty good rate, usually just .10 lower than the UBOC rate and I pay my CFE electric bill there as well as the water bill. Pay at Ley at least 3 days in advance for your payment to get to them and be posted.

Ley does NOT take Z Gas payments tho and if when you go to Z Gas to pay in dollars, their rate is about .30-.50 less than Ley/UBOC. So I have not really found it in my interest to buy Pesos; just trying to help others with the info and it gives me a better idea what I should be getting for USDs.

Others here know more about the local cambios; I suggest you inquire of Milky, who mentioned previously he checks out some cambios.

[bigloudj]

I do agree that it pays to notice the exchange rates at the stores.
Currently the average exchange rate in TJ is 10.84-10.88
The Gigante by my place is exchanging at 11.20 and the Oxxo nearby is at 11.00
Obviously my dollar would stretch by paying in dollars as opposed to pesos.
I exchange about 2-3 hundred every couple of weeks and have found that the houses stateside for the most part will offer a better rate.

[richsinc]

biglou;

Thanks for the info on US side cambios; I'll keep that in mind; I shoulda' stocked up on some Pesos when I would have gotten $1.14 per USD, just in case it goes back to $1.00 but who really knows... I'll take 14% tho anyday!

UBOC has it at 11.05 today.

And an addendum to bill paying: I don't think I mentioned it but if you have to go to CFE electric, you HAVE to pay in Pesos! They will not take USD. Thankfully, the next guy in line had 20 bucks worth of Pesos that I bought from him at 11.00; so I lucked out, rather than running around and making it back before they closed at 3 in the PM; nice hours!

[Pieancho]

Today I changed dollars for pesos at on San Ysidro Blvd where there are 4 or 5 or more casas de cambio (BajaMex is one of them). I check the signs for the best rate then start walking to one of the barkers the different exchange houses have working. I always ask one of the guys if that is the best rate they can give. Nearly always he writes a better rate on a small piece of paper and he walks me to the window and I get a better rate than posted. Today the posting of one place was 11.025, another was 11.099. I went to the highest one and then asked the clerk if that is the best she could do for me. She gave me 11.10. The problem I have is the $500 USD I changed won't last me but a week.

[richsinc]

Great advice Pieancho!

Never thought of bargaining at cambios; makes sense tho! Guess I had that US Bank syndrome where someone chisels the rates in stone!

$500 a week? Vicente Fox has to love you more than me then! :shock:

[Pieancho]

$500 needed per week because I'm building onto my house. Then there is travel and restrauants. That's why I live here.

[richsinc]

Told ya' to buy Pesos at 11.43! But not too bad really. :roll:

USD/JPY 114.64
USD/CHF 1.2316
USD/CAD 1.1297
USD/MXN 10.8880
EUR/USD 1.2766
GBP/USD 1.8651
AUD/USD 0.7665
NZD/USD 0.6183
USD/TWD 32.795
USD/CNY 7.9700

[bigloudj]

Wish I could find a casa de cambio exchanging at that rate of 10.88
Best rate I have found in the last week is 10.76 at a casa on 3rd and Constitution give or take half a block on 3rd.
thanks again rich

[richsinc]

Just an update from UBOC:

The Mexican peso weakened 0.21% after recently hitting its strongest level in five months. Mexican stocks continued to fall. Investors are keeping an eye on Mexico's political crisis following last month's presidential election but have so far shrugged off protests by Andres Manuel Lopez Obrador supporters claiming voter fraud. Most investors expect Calderon to eventually become president, although more violence could generate some downside risk for the peso.

Indicative Rates:

USD/JPY 116.54
USD/CHF 1.2247
USD/CAD 1.1149
USD/MXN 10.7860
EUR/USD 1.2890
GBP/USD 1.8950
AUD/USD 0.7612
NZD/USD 0.6363
USD/TWD 32.7004
USD/CNY 7.9671

[richsinc]

Just thought I would update this as long as I was on.

The Mexican peso rose slightly against the dollar. Uncertainty of a U.S. economic slow down, and volatility in commodity prices have traders weary of investing in emerging markets.

Indicative Rates:
USD/JPY 117.83
USD/CHF 1.2500
USD/CAD 1.1141
USD/MXN 10.9088
EUR/USD 1.2692
GBP/USD 1.8685
AUD/USD 0.7493
NZD/USD 0.6547
USD/TWD 32.063
USD/CNY 7.9055

Ley Super?market was at 10.95 yesterday.

[bigloudj]

With the peso fluctuating like it has sometimes it's better to find out what the exchange rate is at whatever store you happen to be in especially Ley, Gigante, Calimax, DAX, etc etc.
The exchange rate by my apt was at 10.78 the other day and at DAX it was 11.00
at Gigante it was 10.85
Obviously my purchases were made in dollars....

[richsinc]

Just came from Ley, biglou and they have it at 10.90; it's been pretty stable lately there from 10.8 to 10.90.

As long as I am here; here is an update from Union Bank:

"The dollar gained across the board today powered by falling oil prices and brushing off a weak survey on the U.S. job market which reassured investors the U.S. economy may not be as sluggish as initially projected. The market is more focused on tumbling commodity and oil prices, which is currently trading at seven-month lows below $60 a barrel. Investors will be tuning in to a speech from Fed Chairman Bernanke today for any insight on the central bank’s views on the economy and interest rates. Look for the dollar to weaken if the Fed hints at interest rate cuts and the Labor Department’s nonfarm-payroll survey for September is weaker than expected on Friday.

The Mexican peso was little changed against the dollar on Wednesday. In addition, stock trading is projected to remain cautious ahead of Friday’s US unemployment data, awaiting clues on the future of the U.S. economy. A potential U.S. slowdown could impact Mexico, its main trading partner, as it would imply there would be a weaker demand for local products.

Indicative Rates:

USD/JPY 117.70
USD/CHF 1.2480
USD/CAD 1.1250
USD/MXN 11.0500
EUR/USD 1.2710
GBP/USD 1.8875
AUD/USD 0.7470
NZD/USD 0.6650
USD/TWD 33.090
USD/CNY 7.9055 "

[bigloudj]

Let's get that peso back up to 11.33

[Chiquito]

What was it around 1992? 100:1, 1000:1 ? Let's get it back there.

[libertythor]

it is best to use pesos with Taxis and other forms of public transportation, as most drivers will give you the 10/1 rate.

[George Costanza]

The Peso has been gaining on the dollar. I just exchanged at 10.62, the same tiem last month it was at 10.95

[TJGringo]

The dollar continues to drop I saw 9.8 last night at a few places.

[richsinc]

Union Bank, Sat. 07/26/08:

The Mexican peso fell slightly against the dollar today as Mexican consumer prices rose 0.38% in the first half of July. Reports from the Mexican central bank on Thursday also showed that annual inflation rose to 5.37% cementing expectation of further interest rate hikes.

EUR/USD 1.5683
USD/JPY 107.83
GBP/USD 1.9878
USD/CAD 1.0158
USD/MXN 10.0210
USD/CHF 1.0385
AUD/USD 0.9562
NZD/USD 0.7422
USD/DKK 4.7550
USD/SEK 6.0340
USD/NOK 5.1424
USD/TWD 30.400
USD/CNY 6.8180

But Ley was at 10.05 yesterday...