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Taking advantage of the USD/COP exchange rate right now

Hi,

I visited Colombia a couple months ago. I was getting about 1,850 COP per USD. I'm thinking that I want to visit next year, or surely within two years. I'm wondering if it would be a good idea to buy some COP right now. If not, are there any other things I can buy (like CDs, bonds, etc.) that have a better guarantee (in case of financial collapse, etc.) that would allow me to take advantage of the good exchange rate right now?

Thanks!

By njc (Dev team) on Nov 16, 2008, 12:19 in Travel tips.

el_canuck says on Nov 16, 2008, 13:06:

Buy gold, if you can get it.

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njc (Dev team) (☼Travelguide writer) says on Nov 16, 2008, 13:08:

Good idea. I have been collecting silver. Is it easy to take gold/silver from the US and sell it for COP in Colombia? When people buy gold/silver from you in Colombia, do you usually get a decent rate?

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tomtom33 (☼Travelguide writer) says on Nov 16, 2008, 13:23:

Buy stock. There is a big sale right now.

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BillBigD says on Nov 16, 2008, 13:48:

Gold was up 5% on Friday.
Some where saying buy Silver on PBH at $20, now $9.40.

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njc (Dev team) (☼Travelguide writer) says on Nov 16, 2008, 14:02:

tomtom: I'm not sure that stocks are quite secure against financial collapse... as we've seen recently :).

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jonas says on Nov 16, 2008, 14:10:

neither is pm, real estate, energy, etc... now maybe you understand why your dollar buys 2.300 pesos. But this strength in the dollar will not last, people will start buying lows.
In my opinion the op is right with his idea to move some of his assets into COP now. How to do this without a cedula/bank account etc I don´t know.

Mi alma se la dejo al diablo

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scumbuster says on Nov 16, 2008, 16:32:

I just sent $1500 to my mother in law in Bogota. She took it out at the debit machine over a couple week period and put it in my wifes bank account. Ready for our next vacation :)

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nine inch nails says on Nov 16, 2008, 20:58:

"I'm not sure that stocks are quite secure against financial collapse... as we've seen recently :)."

Yeah this shit is scary. During the Great Depression the stocks didn't tank overnight. It took a couple years and then went to 1/8th the high value and stayed that way until well after WWII (15 long years). We are still at say 5/8ths the high +/-.

In our current market one day down so low then all back next day and then down again the next week. Who knows??

If I had the spare change to experiment with I would buy some stock but never all my eggs in one basket.

The Hedge funds have all gone wild on us!

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Tejeringo says on Nov 17, 2008, 12:40:

gold, silver, cash, won't feed you.

Better get Land, Fincas, Cows, etc tangible assets is the way to go..

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