Where's the peso going?

arthur brode says on May 6, 2007, 18:13:

. i went to change some dollars at the casa de cambio last friday and the rate was 1910 pesos per U.S.$1.00!!

http://www.calirentals.net/

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mecca says on May 6, 2007, 18:20:

AB, that's rough for sure talking about driving you to drink!!

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goin_south says on May 6, 2007, 19:08:

A.B......sounds like we could make a lil on the split You better start letting me send you some dinero, dude; I thought it was tough on a Western Union transfer last week (I'm thinking it was Tuesday) and the rate was 2011 to 1.

Who knows where the hiccups are going to come, or how long it will last? but, there appears to be a long-term trend in favor of the peso, eh?

Where do we go from here?

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goin_south says on May 6, 2007, 19:11:

was the 'movement' that drastic in just 4 days time??? (talk about the sh*ts!),...or, was it jus the difference in the places we made the exchanges, ya think?

Where do we go from here?

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scotty says on May 6, 2007, 20:08:

not good this dollar drop in Colombia is not good for us gringos who like to travel to Colombia or for the gringos living there. I wonder how much lower this is gonna go and how this will effect us all?

Get Rhythm, when you got the blues. Johnny Cash

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lochdhu says on May 6, 2007, 20:48:

This is just the start and it's gonna get worse with the recession looming ahead of us.

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goin_south says on May 6, 2007, 22:14:

que receccione? better get a second job, go back to school, or...work smarter and harder? quit complaining; we got it made still, going to Colombia.

I'd like to hear from the 'EXPERTS' DE PBH the best way to trade, if you do believe the peso will continue its rise against the dollar. I haven't been to a casino for about seven years, but I'm sure someone is willing to bet on what you guys are saying.

Maybe DonChing-Ching-O will give us some words of wisdom en la manana.

Where do we go from here?

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miamimike says on May 6, 2007, 22:49:

Go next door to Venezuela,,, (Caracas)Venezuela Friday may 2, 2007

Takeover Fears Boost Bank Rates-Venezuela's Overnight lending rate jumped to a 2.6 year high AS A ROUT in stocks and Bonds left financial institutions short of Cash.


Banks, whose customers sold Goverment bonds and stocks after Prez Chavez threatened to nationalize banks and seize the country's biggest steelmaker, struggled to meet demands. The Banks ran short of central bank certificates of deposit with which Bolivars aree obtained.

The Interbank rate jumped to 15.5% on Friday from an average of 12.9% Thursday, according to money market traders. It breached 20% earlier Friday and was at its highest since Dec 10, 2004. You can bet Astute US based Investors are already in for the gain,,,

My Avatar-- Sarah Palin Says " "You know the difference between a pit bull and a hockey mom?? Lipstick!" Now on a Short Verbal Tether by the Honorable John McCain

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tomtom33 says on May 7, 2007, 03:22:

The recession looming... And right after that looms the recovery.

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Brians says on May 7, 2007, 05:03:

I felt like a dollar rally was going to happen two months ago but it continues to be oversold. I do think the longer term move in the dollar is down but shorter term I think we get a rally. I wait for an opportunity to convert at good rates. This mornings note from our technician:

Currency Conundrum
The US Dollar Index has been in an intermediate-term downtrend from early 2006
and is currently testing long-term support. While the long-term trend remains
negative, sentiment has hit two year lows and momentum indicators suggest a
corrective rally is possible. Should this occur, foreign buyers, who are
underweight US equities, may decide to increase their allocations. This would
likely be first seen in the big cap “household name” issues. We already see
improvement in this category, e.g., AXP, CBS, GE, IBM, KO, and UTX. A dollar
rally could also impact other inter-market relationships, such as gold and interest
rates. We note the hedge funds continue to short the dollar, which would support
a contrarian countertrend rally

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elreydelostrolls says on May 7, 2007, 06:09:

A guy named UTC predicted a 2000 peso rate a while back and that prediction was scoffed at but has come to pass. What the gringos want and the gringos get are two different things but then many people here have a difficult time separating fantasy from reality.

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miamimike says on May 7, 2007, 06:10:

I doubt you'll see much of a Dollar Rally until after the 2008 US Elections and a true attempt at US Debt reduction,,,

My Avatar-- Sarah Palin Says " "You know the difference between a pit bull and a hockey mom?? Lipstick!" Now on a Short Verbal Tether by the Honorable John McCain

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Brians says on May 7, 2007, 07:30:

Yeah I have been preaching this for two years. The risk to living somewhere and drawing an income in another currecy is risky. You need to have a hedge like real estate. I think with the world economies slowing that we will see a slowdown in Colombia as well. The Peso will probably be sold against the dollar. However longer term (10 year) Peso will continue to rise.

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miamimike says on May 7, 2007, 07:42:

PG-when I first started going to Colombia in 94 the exchange was something like Approx 820 CP to one dollar so for me its still a Bargain. History shows it still is a great deal. In the below link, go to the last line of the paragraph(4th down on list) marked Economy for the last quarter 1994 Peso:USD Ratio. Now it is still over twice that exchange,,,

http://dosfan.lib.uic.edu/ERC/bgnotes/wha/colombia9411.html

My Avatar-- Sarah Palin Says " "You know the difference between a pit bull and a hockey mom?? Lipstick!" Now on a Short Verbal Tether by the Honorable John McCain

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Ctg Bound says on May 7, 2007, 07:45:

elreydelostrolls I predicted it as well, but for the end of last year.

I only see the dollar heading South against most currencies, for now I don't keep any money in dollars, that wil change soon, how long soon is is the million dollar question.

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miamimike says on May 7, 2007, 08:23:

Relatively speaking It wasn't Bad even then in Colombia I thought the exchange was a bargain then. Auto Gas was never cheap even back then,in the early 90s(reletive to Col wages),as was Gold. If you are talking about a Commodity product(gold, oil ect., these are set by world prices not Colombia policy. Inflation was not all that bad. My buying power with Dollars has steadily increased over the Years. I think many Americans were spoiled with these super high rates(BUT NOT REALISTIC)of the recent past so now anything less, seems like robbery LOL. When I had some Major Dental work performed a few years back in Colombia, I was still charged mid 90s prices more or less. The Labor charge may have went up a little maybe 15% over 10 years but no doubling or tripling as seen in the Value of the Peso over the same time period. No way Jose! Another example, Go to a Good Restaurant in Bogota and you still get a great Value for the dollar reletively speaking! I looked at some of the past establishments where I went for Lodging from '94 on and while I see some price creep, I again see no doubling/tripling of rates for a room(even though the CP more then tripled in this same time frame). I do not patronize those Hotels frequented by many Americans(Dann, Tequedama(sp) ect.,so I have no idea what they charge now,,,

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miamimike says on May 7, 2007, 08:46:

Rubito with the Flood of Cheap Chinese Imports Shoes, underwear, tools ect are cheaper then in the past. Quality may be another thing LOL

My Avatar-- Sarah Palin Says " "You know the difference between a pit bull and a hockey mom?? Lipstick!" Now on a Short Verbal Tether by the Honorable John McCain

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gorgonabob says on May 7, 2007, 10:19:

and as said before the peso is not going up its the dollar thats going down....many currencys around the world are at record levels against the american peso... not just the colombian dollar

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Ctg Bound says on May 8, 2007, 03:40:

gorgonabob The dollar is weakening against most currencies, the pesos is going up against many currencies as well, so a double whammy in the dollars case.

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