156 replies to this topic

[Aztec Eagle]

Well i been paying in dollars at the gas station and they took my dollar 1= 9.50 PESOS and i went to the corner market near my house and they took my dollars at 1= 9.00 pesos im just paying in pesos right now, its seems the dollar is getting weaker and the peso getting stronger.

[otayBill]

Official rate Monday, August 4: $1 = 9.8605 pesos.

Today for the first time in over 5 years the dollar has dropped to less than 10 pesos.

[sdc]

Every place I go to now I asked what their exchange rate is for dollars and then I use the highest value currency...I'm usually getting 10.5 at least to the dollar...I have yet to see a place under 10 to the dollar....

[George Costanza]

All the XXOO's are around 9.86 and even the small stores are charging me 9.8

[George Costanza]

Surprisingly with all the financial and natural problems we are having the dollar has rebounded and is now currently at 10.64 after being 9.8 a few months ago. The Casa De Cambios are all around 10.55 or so

[Scooby]

Yeah, but I wouldn't be at all surprised to see the rates bounce up and down waaay more as the global economy really gets shaking.

[GaryN]

Do you guys think it will go over 11 to 1?
I pay my rent in pesos so I can save close to 50 dollars when I convert the dollars to pesos.

[Daniel]

Yeah, but I wouldn't be at all surprised to see the rates bounce up and down waaay more as the global economy really gets shaking.

I agree.

Do you guys think it will go over 11 to 1?

No.

There a short period when it went over 11:1, just like there was a short period of time it was under 10:1. Most of the time I've been going to TJ it's been between 10:1 and 11:1.

[Miggiesmallz- TEXMEX]

Live rates at 2008.10.07 19:01:22 UTC
1.00 USD = 12.2094 MXN

My cable/internet bill, which I pay with my debit card, was about $7.00 dlls cheaper this month. Same price is pesos though. SWEEET. I hope Cablemas doesn't increase their rates anytime soon.

[George Costanza]

The Casa de cambios around here are all at 11.10 and up, one was changing their sign to read 11.20 when I passed

[Klort]

Use an ATM instead of the casa de cambinos. It will give you the BANK rate which is now almost 13 MXN for 1 USD!

[richsinc]

Union Bank of California:

October 8, 2008
In another attempt to calm the global financial markets, the US Federal Reserve led a coordinated round of global official interest rate cuts on Wednesday, lowering the federal funds rate half a percentage point, as did the European Central Bank, Bank of England and Swiss, Canadian and Swedish banks. The US dollar fell against major currencies, while the yen surged as investors questioned whether coordinated global rate cuts by central banks were sufficient to free up the credit market. Initial euphoria over the rate cuts quickly fizzled, with stocks on Wall Street opening lower, before stabilizing and the greenback extending its losses against the yen.


The Mexican peso plunged the most since the government abandoned a currency peg in December 1994 as concern mounted that a global credit crisis will deepen even as central banks cut interest rates across the world.

EUR/USD 1.3684
USD/JPY 99.49
GBP/USD 1.7359
USD/CAD 1.1179
USD/MXN 13.0640
USD/CHF 1.1286
AUD/USD 0.6740
NZD/USD 0.6078
USD/DKK 5.4489
USD/SEK 7.1028
USD/NOK 6.1476
USD/TWD 32.310
USD/CNY 6.8131

I agree on getting Pesos out of an ATM rather than a cambio casa; You will get closer to a bank exchange rate, which usually covers an ATM fee, if any, if you use a US credir card.

[Scooby]

......The Mexican peso plunged the most since the government abandoned a currency peg in December 1994
as concern mounted that a global credit crisis will deepen even as central banks cut interest rates across the world........

I see the peso was just over 14 a few hours ago but is now back down to 12.5

I read that from Dec 20th 1994 to Jan 3rd 1995, the MX peso lost 37% of it's value. I'd like to find more info on that.

Do you think that people with most of their savings in pesos should move them out of their banks and/or to another currency ?
Maybe the Japanese yen would be a safer bet. Even the Chinese yuan appears quite stable.

[Klort]

It's too bad they don't have these Un Peso coins anymore.

When the pesos crashed from 100-something to 3,000 within a few days, I went to Banco Nacional de Mexico and got huge bags of "Un Peso" coins for $2. I still have about 3,000 left...

But now I have ceramic poker chips so I don't need these bags of Un Peso coins.

I have been closely monitoring the Pesos... if it gets to maybe 20, I'll go down there and get a VW Pointer. They look cute.

[Scooby]

........When the pesos crashed from 100-something to 3,000 within a few days, .......

Was that in 94-95 or some other time ?
The amount that you say has it dropped to single digit percentage points.

It's not so bad if it goes back to something near where it was.
If the currency gets changed to a newer type of peso or something,
then would the peso be worthless ?

[governor]

Viva peso!!

Was that in 94-95 or some other time ?
The amount that you say has it dropped to single digit percentage points.

It's not so bad if it goes back to something near where it was.
If the currency gets changed to a newer type of peso or something,
then would the peso be worthless ?

[richsinc]

It's too bad they don't have these Un Peso coins anymore.

When the pesos crashed from 100-something to 3,000 within a few days, I went to Banco Nacional de Mexico and got huge bags of "Un Peso" coins for $2. I still have about 3,000 left...

Maybe I can buy a bag of those from you; I tried to find them everywhere before a bloggers get-together so I could ante up for one of George's margaritas but he seems happy buying Pesos at 11; let's see, two more Pesos per US$ at 13 could mount up to a number of margaritas...

Please keep in mind the face value of money and the intrinsic value; face value doesn't make much difference to me. If a coke is one US$, it doesn't matter much if you pay 1000 old Pesos for it or 100 new Pesos for it when you bought both the old and new Pesos for the same one US$.

[Klort]

Was that in 94-95 or some other time ?
The amount that you say has it dropped to single digit percentage points.

It's not so bad if it goes back to something near where it was.
If the currency gets changed to a newer type of peso or something,
then would the peso be worthless ?

No, it was more like 1985. That was when they went from MXP (Pesos) to MXN (New Pesos). I vividly recall the Casa showing $3,080 for USD$1 and a few days ago it was less than 200.

[Klort]

Maybe I can buy a bag of those from you; I tried to find them everywhere before a bloggers get-together so I could ante up for one of George's margaritas but he seems happy buying Pesos at 11; let's see, two more Pesos per US$ at 13 could mount up to a number of margaritas...

Please keep in mind the face value of money and the intrinsic value; face value doesn't make much difference to me. If a coke is one US$, it doesn't matter much if you pay 1000 old Pesos for it or 100 new Pesos for it when you bought both the old and new Pesos for the same one US$.

Coins are worth about $1 while shipping would be $20.

[Miggiesmallz- TEXMEX]

if it gets to maybe 20, I'll go down there and get a VW Pointer. They look cute.

Rented one in Mexico City, cool car, very economical. but isn't it just a VW Golf with a different name?