Good Sam Club Open Roads Forum: RVing in Mexico and South America: MXP
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moisheh

North America

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Posted: 12/08/20 04:24pm Link  |  Quote  |  Print  |  Notify Moderator

The peso is soaring. Good for Mexicans, bad for tourists. Some analysts are saying the exchange rate could go to 18 to 1.

Lwiddis

Monterey, California

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Posted: 12/08/20 04:33pm Link  |  Quote  |  Print  |  Notify Moderator

What’s good for Mexico is good for us.


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Talleyho69

Playa la Ropa, Zihuatanejo, Mexico

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Posted: 12/08/20 06:39pm Link  |  Quote  |  Print  |  Notify Moderator

You are so right, it all depends upon which side you are looking at.

It's really nice to see the Peso gain value. We just finished an almost 8 month HUGE construction project, and fortunately for us the US dollar was strong.

Honestly, even though it would have cost us more, it would have been very nice to see it go in the other direction.

Let's hear it for a strong Peso!!!

silversand

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Posted: 12/15/20 11:57am Link  |  Quote  |  Print  |  Notify Moderator

Moisheh wrote:

The peso is soaring


....the past 8 months has been anomalous for the MXN (and, an exact price correlation~trend with the USD~CAD, too). Unfortunately, MXN took a major hit between the 18th of February, and the 23rd March, this due to a huge flight from/out of riskier currencies....because of you know what.

*USD~MXN has been steadily favoring MXN from around ~ 12th May to today. The MXN will come back to normal (read: pre-Covid days of 18.60 ~ 19.ish) at this trend and probably stabilize by appx March-ish of next year.

*this is my opinion only; do not use this as trading advice


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moisheh

North America

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Posted: 12/15/20 02:23pm Link  |  Quote  |  Print  |  Notify Moderator

The cheer for a strong peso is not good for the nation. It discourages foreign investment and thus affects employment. Currency values are very complicated but stability is most important.

* This post was edited 12/15/20 03:10pm by an administrator/moderator *

qtla9111

Monterrey, Mexico

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Posted: 12/15/20 05:20pm Link  |  Quote  |  Print  |  Notify Moderator

moisheh wrote:

The cheer for a strong peso is not good for the nation. It discourages foreign investment and thus affects employment. Currency values are very complicated but stability is most important.


It sure does, thinking about import/export of goods and services, industrial and commercial property owners hedge on that, but investors become hestitant because they aren't sure what will happen next with the peso.

Lots of good but can bring a lot bad with it.


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navegator

San Diego CA.

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Posted: 12/16/20 10:33am Link  |  Quote  |  Print  |  Notify Moderator

The peso will probably stabilize at 1.00 USD to 18.00 Pesos (hopefully), for many years it was stable at 1.00 USD to 12.50 MX pesos, until the fiasco of the devaluation of the early eighties and from then on it has been a roller coaster.

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moisheh

North America

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Posted: 12/17/20 09:25am Link  |  Quote  |  Print  |  Notify Moderator

I remember when the gov was cash rich and when the peso was under pressure they would buy up the peso to prevent a fall But that was when they had some highly educated People in the government. Times have changed.

qtla9111

Monterrey, Mexico

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Posted: 12/17/20 12:26pm Link  |  Quote  |  Print  |  Notify Moderator

moisheh wrote:

I remember when the gov was cash-rich and when the peso was under pressure they would buy up the peso to prevent a fall But that was when they had some highly educated people in the government. Times have changed.


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navegator

San Diego CA.

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Posted: 12/17/20 02:11pm Link  |  Quote  |  Print  |  Notify Moderator

There is a very old saying in Mexico:

Los de abajo seremos los de arriba!

The ones below will be on top

And this has come to pass!

navegator

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