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Thread: Dominican peso

  1. #11
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    Quote Originally Posted by ricky11 View Post
    i'm not sure what type of transportation FYING is but if you mean FLYING, i cant understand why you would pay hundreds of dollars for an airplane ticket to close an account of 1000.00 pesos which is worth US 25.64. maybe you know something no one else does.
    Some folks simply do not get it.

  2. #12
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    Quote Originally Posted by Ken View Post
    For sure nothing is going to change much during the next few months. The government is not going to permit a devaluation before the election in May.

    Why anyone would want to hold a lot of money in pesos, ever, is something I can't fathom. This is why many expats keep their money in an account in a bank in their home country and write personal checks which they cash at a friendly casa de cambio.

    JANET/NJ, when is your next vacation trip? If it is in the next 6 months or so, you are not likely to see much change.

    But in the future, keep your vacation money in dollars and change them when you get here. You almost always do better doing that than holding pesos for a year until your next vacation.
    I lot of Dominicans hold CDs with several millions of pesos to leave off the interest. This is when there is no other souce of income.

  3. #13
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    Spelling correction: I lot of Dominicans hold CDs with several millions of pesos to live off the interest. This is when there is no other souce of income....


    I blame it on ESL ..

  4. #14
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    Quote Originally Posted by JANET/NJ View Post
    So im hearing that dominican currency will be changing and that anyone that has "pesos" will end up having nothing. Ive been advised to change any pesos i have into dollars.--- i dont have much, but i usually keep my dominican vacation spending money in pesos. Should i be worried? what is this all about? Seems its been in the news here in the states.
    Can you share the source of this information?

  5. #15
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    There has been a lot of discussion about the Dominican Peso but here is a graph of it versa US$ over the last five years. It has lost about 7 % per year against the US$. USDDOP=X Basic Chart | USD/DOP Stock - Yahoo! UK & Ireland Finance

    It usually declines September to December then stabilises during the tourist month. What the election will do is something else. Looking back 8 years or so you will find wild swings. Maybe it will be that way this time. It just depends who gets in.

    OLLY and the Team

  6. #16
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    It isn't totally irrational to think that the DR peso will go as high as it was when Hipolito was in power.
    If one pays attention to the market trends, all support and resistance levels are tested repeatedly.

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  8. #17
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    The Dr Peso tends to weaken when dollar demand increases as with most traded currency. The monts of strong dollar committments, such as the Christmas and Holiday seasons are high dollar demand periods. Also, with import invoices clearing months in advance, Sept-Dec would be strong dollar demand months. For most, invoicing in dollars and spending locally in pesos creates an attractive currency arbitrage that provides increased earnings.. hence, a peso devaluation benefits in one aspect. However, I would tend to favor the thinking that there is stress on the currency, and that an eventual correction in the dollar parity will be required- most likely through an increase daily deval rate. Having lived through the last devaluation, I don't think that the country is prepared for another one time hit.

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  10. #18
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    If you are holding pesos left over from vacation and plan to return for a vacation soon don't worry about the exchange rate - you should worry about how the buying power of the pesos that are left will be impacted by inflation.

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  12. #19
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    my mom said she heard it in the news here.....but i dont know what news cast.. i dont watch spanish tv so i have no clue-----

  13. #20
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    JA.!JA.! JA.!--lol-- Thanks a lot guys for making fun of me......but you know how it is, someone says something and it spreads like a wild fire.......my mom called me hysterically to tell me to go and change my money....lol......

    for those of you who didnt make fun of me thank you for the advice, this will be the last lump sum i keep in pesos.....i usually just do it because i hate the whole trip to the casa de cambio where you can get mugged coming out of it and what not.....so i just always get to the country with pesos in hand.

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