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Forums  > Areas > Jalisco's Lake Chapala Region


Uncle Jack

Nov 30, 1919, 12:00 AM

Post #1 of 9 (2601 views)

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Pesos/Dollars 10.2 to 1

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I just saw on the magazine page that todays rate is 10.195 to 1. That's almost a peso jump since out first trip down there this year in April. That's about a 10% or 11% decline in just 5 months. I'm sure that a lot of Gringos are benefiting from this devaluation, but it has to be really tough on most Mexicans. <p>Any of you armchair economists have a clue as to where the peso is headed in the next year?



PDW

Nov 30, 1919, 12:00 AM

Post #2 of 9 (2599 views)

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Some other thoughts

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I have pesos in Lloyd91. If looks like it's returning about 5% (tax free ?). Grossing it up for tax considerations, that is really 6 or 7 percent. Also, if you spend pesos, as many of us do, it seems to me that it really doesn't make any difference as long as inflation is under control. I would only convert dollars to pesos if you intend to spend the pesos in Mexico. Don't keep doing the dollar conversion.


ed

Nov 30, 1919, 12:00 AM

Post #3 of 9 (2598 views)

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there goes your money us

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if you have money in mexico,you have lost 11% of your money,right.The more the peso goes up yhe more you loose.

Thanks Ed


ed

Nov 30, 1919, 12:00 AM

Post #4 of 9 (2597 views)

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Pesos/Dollars 10.2 to 1

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if you have money in mexico,you have lost 11% of your money,right.The more the peso goes up yhe more you loose.

Thanks Ed


ian

Nov 30, 1919, 12:00 AM

Post #5 of 9 (2598 views)

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Pesos/Dollars 10.2 to 1

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  The Canadian peso has also slipped lately! Actually its the greenback that has risen a bit against the Eure and other currencies.


Lucy

Nov 30, 1919, 12:00 AM

Post #6 of 9 (2597 views)

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Pesos/Dollars 10.2 to 1/ what is the effect?

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When living in Mexico, I noticed there was little difference regarding the rate of the peso. Seems most things for every day life were up when the peso went up. No change if the rate went down. What is going on now?


Mike

Nov 30, 1919, 12:00 AM

Post #7 of 9 (2597 views)

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Going lower too, Yahoo shows it at 10.27 now

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The only thing I have seen is that there is disillusionment with the Mexican market and concern over a possible PEMEX strike.


David

Nov 30, 1919, 12:00 AM

Post #8 of 9 (2598 views)

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Going lower too, Yahoo shows it at 10.27 now

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The US $ is extremely overvalued,a nd as the US swings from a Budget Surplus to a Defecit,a nd the huge debt continues to balloon out of control, there will be a swing to more solvent economies, like the Swiss Franc.<p>I look for the Canadian and Australian currencies to strenghthen this year as both are in a strong economic mode and their Governments have kept their fiscal house in order.<p>The Australian $ has already gone from 0.49 to 0.55 recently.


Jim Bentein

Nov 30, 1919, 12:00 AM

Post #9 of 9 (2598 views)

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Going lower too, Yahoo shows it at 10.27 now

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Couldn't agree more. The U.S. dollar is tremendously overvalued, given the country's trade deficit and the combined government, corporate and consumer debt. The Mexican peso is also ready to tumble. It has been propped up by smoke and mirrors, with President Fox having somehow convinced the world it's "different this time" and there really is substantive economic change happening. In fact, the country still has the same problems it did under PRI - not a broad enough tax base, corruption, little investment in long-term infrastructure. When oil and gas prices fall - and they will post-Iraq - the peso is going down big time. The federal government gets something like 30-40% of its total revenue requirements from Pemex. That is not sustainable. As for the Canadian dollar - yes and no. The governments there have largely done a very good job of operating prudently, but Canada and individual Canadians have the same disease as Americans - debtitus. However, I think we'll see a 68 cent dollar again - before we'll see a 60 cent one.<p>Luego
 
 
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