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Exchange Rate Dollars for Pesos

I am going to Manizales in August, and I would like ask if you guys think now is a good time to exchange some dollars for pesos.

Currrently I can get 1850 pesos per dollar stateside if I buy them today.

Think is a good or bad idea?

I do not want to waste time at a bank.

Thanks!

theflatline

By theflatline on Jun 10, 2009, 17:41 in Friendly Talkzone.


Paisa/Calena/Luver says on Jun 10, 2009, 17:49:

If that is you only option, then yes get them now,, because its suppose to go down to 1800 by September and that means you might get 1500-1600 in the states at that time..

"PAY ATTENTION! I wonder if that person knows that when we push the FUNNY button, its because we are reading something outrageous, trying to be cynical, derogatory, sarcastic and/or obnoxious!"

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durito2 says on Jun 10, 2009, 17:53:

There is ZERO reason to buy now at 1850 when the ATM in Colombia still spits out 2050. Even if you think the rate is going way down. If you are that good at predicting currency movements you should be raking it in trading them.

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Paisa/Calena/Luver says on Jun 10, 2009, 17:58:

Yes but hes not coming to Colombia until August hes not coming next week... and then It might be down to 1800 or less.. One in the hand is worth 2 in the bush for me..

"PAY ATTENTION! I wonder if that person knows that when we push the FUNNY button, its because we are reading something outrageous, trying to be cynical, derogatory, sarcastic and/or obnoxious!"

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theflatline says on Jun 10, 2009, 18:02:

That is the thing, I live in the US and the economy is in the crapper, and getting worse.

I am only going to be there 7 days, and a 1,000,000 pesos is enough spending money. I stay at my fathers, so my cash for for just having fun.

I also have a an old bank account there with about 500,000 in it. I just want to hedge my bets on the rate...

Does anyone know of any good exchange services here in the US?

Legaleez for Complete Morons - A book for gringos in Colombia for who think they understand the nature of the law in a country where they cannot speak the language.

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Robert Jorge says on Jun 10, 2009, 18:25:

In the US? Nope. Nobody wants to buy dollars. Now, if you have gold .....

"You can not take the barrio out of the girl you really can't." Oneforamillion

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durito2 says on Jun 10, 2009, 18:29:

"

Paisa/Calena/Luver says on Jun 10, 2009, 17:58 (today): flag

Yes but hes not coming to Colombia until August hes not coming next week... and then It might be down to 1800 or less.. One in the hand is worth 2 in the bush for me.."

So why don't you transfer all the cash you can right now at 1850, after all it could go to 500 in a year. It could also go to 3,200.

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Paisa/Calena/Luver says on Jun 10, 2009, 18:35:

"Does anyone know of any good exchange services here in the US?"

I used this place one time.. but you need to call... The money comes overnight and is insured!

I got a bad rate but it wasnt the worst! https://www.mtwna.com/servlet/MTW;jsessionid=000084yk_BYVioUBZzHNS26Eb...

"PAY ATTENTION! I wonder if that person knows that when we push the FUNNY button, its because we are reading something outrageous, trying to be cynical, derogatory, sarcastic and/or obnoxious!"

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Robert Jorge says on Jun 10, 2009, 19:13:

Viajero is generally speaking, correct. Good, sound advice.

"You can not take the barrio out of the girl you really can't." Oneforamillion

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Gator says on Jun 10, 2009, 19:52:

Use your ATM card IN Colombia-trying to beat the system in the USA will be like replaying the love scene from "Deliverance."

"Bene, cum Latine nescias, nolo manus meas in te maculare" .

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excavator59 says on Jun 10, 2009, 21:22:

We always used a visa card as you got the wholesale rate ,as long as you pay it back quick it's a good way of doing it or was.

Life is like a Pubic Hair on a Toilet Seat (Sooner or Later you get Pissed Off)

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jbd777 says on Jun 11, 2009, 06:00:

AGREED, JUST USE YOUR ATM CARD ITS THE BEST DEAL.

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scumbuster says on Jun 11, 2009, 11:52:

Looks like the ATM's in Colombia have it hands down. I would go that route too.

Tomas Jefferson “When the people fear their government, there is tyranny; when the government fears the people, there is liberty.”

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Paisa/Calena/Luver says on Jun 11, 2009, 11:54:

NO FEE ATM CARD OF COURSE, will give you the best rate,, Each and Every time, but the OP is asking for an accredited exchange house in the U.S.

"PAY ATTENTION! I wonder if that person knows that when we push the FUNNY button, its because we are reading something outrageous, trying to be cynical, derogatory, sarcastic and/or obnoxious!"

0 funny, 0 helpful.

scumbuster says on Jun 11, 2009, 12:02:

Most international airports have them but I can only imagine the rate you would get.

Tomas Jefferson “When the people fear their government, there is tyranny; when the government fears the people, there is liberty.”

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scumbuster says on Jun 11, 2009, 12:03:

I have about 250.000 in my sock drawer for my next trip.. What you offering? lol

Tomas Jefferson “When the people fear their government, there is tyranny; when the government fears the people, there is liberty.”

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theflatline says on Jun 11, 2009, 12:06:

peso dropped again today.

Legaleez for Complete Morons - A book for gringos in Colombia for who think they understand the nature of the law in a country where they cannot speak the language.

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srobledo says on Jun 11, 2009, 12:37:

well just if you wanted to check some currencies
http://www.xe.com/
great converter for many currencies
Also going to the ATM here in Colombia is much better than almost any currency exchange office for sure

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theflatline says on Jun 11, 2009, 12:45:

Down to 2014, I just bought 500 dollars at 1840 to be safe.

Legaleez for Complete Morons - A book for gringos in Colombia for who think they understand the nature of the law in a country where they cannot speak the language.

0 funny, 0 helpful.

bickerss says on Jun 12, 2009, 04:11:

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/th...

Bummer


'''How that will play out exactly, how long it will take and what the road map along the way might look like is difficult to say, due to the many permutations of how events might interact.

But the ultimate outcome will be a weaker currency, more inflation and higher rates until such time as the printing press is finally taken away from the Fed.''''

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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CaptainHowdy00 says on Jun 13, 2009, 11:40:

I´m in Bogota and I just got an even 2000 rate. Send me all the money you want and I¨ll gladly exchange it for you!!

Some people have the luck of the Irish. I have the luck of George Costanza!

0 funny, 0 helpful.

BillBigD says on Jun 13, 2009, 21:14:

I know that Gringo bought PBR and DXO earlier in the year and is doing quite well. Have to say he got the DXO idea from me so i know he did. Infact the DXO is up over 135% but most of the bozos here will call him a liar.

0 funny, 0 helpful.

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