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Thread: Canadian exchange rate here

  1. #11
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    Quote Originally Posted by AnnaC View Post
    yes that sounds more like it. I just checked the place where I go which is a bit better than banks and its 29.73
    10,000 RD yesterday - $305 CDN. = 32.78 Scotia ATM.

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  3. #12
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    I had to look up what a loonie was -- https://en.wikipedia.org/wiki/Loonie

    I had figured it for one of the DR1 posters.

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  5. #13
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    A citizen of the world like you..... no Loonie in the vocab ?? Shame.

    Yes, Anna - The Loonie gets a haircut
    witness Astucia paying $305 at .76 (US) and I paid 300 in April at .82.

    Use US$$ - as we have said here many times.
    Your math (earlier) is correct.

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  7. #14
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    Quote Originally Posted by AnnaC View Post
    I didn't want to reply to your question where it doesn't belong but that is correct. The exchange rate thread was started to inform others the location of the cambio where US dollars for pesos were exchanged. As soon as people start to post anything else the thread is lost and speaking for myself I do not enjoying reading 50 posts to figure out what the change was today or 50 more to find what it was yesterday.

    Everyone is welcome to start a new thread where a discussion isn't allowed.

    So here we go use this thread to chat away.

    Well thanks for creating the new thread, but I really don't see what was the big deal. Ironically, my initial question has now become a thread about the Canadian $ value to DOP.

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    Quote Originally Posted by jimmythegreek View Post
    Well thanks for creating the new thread, but I really don't see what was the big deal. Ironically, my initial question has now become a thread about the Canadian $ value to DOP.
    What was your initial question?

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    Quote Originally Posted by Tamborista View Post
    What was your initial question?
    Maybe someone can answer this one for me here. I took DOP$12,000 from a Banco Progreso ATM one week ago and after the RD$120 fee, I calculated that I received about RD$45.01 to $1 USD. Yesterday, I used the same exact Banco Progreso ATM and withdrew the same amount RD$12,000, but this time after the $RD120 fee, the rate was not even close with RD$44.55 for $1 USD.

    Has anyone had experience with this? I am not sure whether I received a way lower exchange rate or BProgreso charged more than RD$120 for the transaction? The slip says $RD120 atm fee, but when you calculate the amount, it appears to be more like RD$240 for the transaction, when using RD$45 for $1USD.

  10. #17
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    I have noticed that when taking money from an ATM in the DR, the exchange rate after the transaction fee is much closer to the exact exchange rate for that day or maybe even the exact exhange rate at the moment of the transaction... for example, if you check on xe.com, they have a chart that will show you the exchange rate as it fluctuates throughout the day... But if I am exchanging USD at Vimenca (or similar), those places have set their exchange rate for the entire day based on what they knew of the exchange rate on the market the previous day. For example, compare the rates you see posted on the bancovimenca.com site versus what you see on the xe.com site.
    Basically, what i am saying is that when you took the money out the first time, the rate was probably at 45.01 at that moment and the next time you took out money, the market rate dipped down 44.55. Throughout that same time period, the vimenca rate stayed, posted on their website, at 44.80...

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    Quote Originally Posted by MJSantoDomingo View Post
    I have noticed that when taking money from an ATM in the DR, the exchange rate after the transaction fee is much closer to the exact exchange rate for that day or maybe even the exact exhange rate at the moment of the transaction... for example, if you check on xe.com, they have a chart that will show you the exchange rate as it fluctuates throughout the day... But if I am exchanging USD at Vimenca (or similar), those places have set their exchange rate for the entire day based on what they knew of the exchange rate on the market the previous day. For example, compare the rates you see posted on the bancovimenca.com site versus what you see on the xe.com site.
    Basically, what i am saying is that when you took the money out the first time, the rate was probably at 45.01 at that moment and the next time you took out money, the market rate dipped down 44.55. Throughout that same time period, the vimenca rate stayed, posted on their website, at 44.80...
    Thanks so much-this absolutely explains what happened here. I took the first withdrawal on the 16th of August and received 45.01. I looked up the chart on Xe.com and it seems to line up that the exchange rate the days before the 16th was around 45.05.

    The second withdrawal was on the 22nd one week later, where I received 45.55. Looking at the Xe.com chart again, the rate dipped down to 45.55 days before the 22nd-So it appears that some of the banks-atms or is it Visa? that are using the rate several days prior to the 22nd?

    When looking at the chart, it looks like the rate is vacillating between 45 and 44.55. Why that is happening-I have no clue.

  13. #19
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    Quote Originally Posted by MJSantoDomingo View Post
    I have noticed that when taking money from an ATM in the DR, the exchange rate after the transaction fee is much closer to the exact exchange rate for that day or maybe even the exact exhange rate at the moment of the transaction... for example, if you check on xe.com, they have a chart that will show you the exchange rate as it fluctuates throughout the day... But if I am exchanging USD at Vimenca (or similar), those places have set their exchange rate for the entire day based on what they knew of the exchange rate on the market the previous day. For example, compare the rates you see posted on the bancovimenca.com site versus what you see on the xe.com site.
    Basically, what i am saying is that when you took the money out the first time, the rate was probably at 45.01 at that moment and the next time you took out money, the market rate dipped down 44.55. Throughout that same time period, the vimenca rate stayed, posted on their website, at 44.80...
    Other question-If you use the atm at Vimenca, is it possible you will get the rate from the prior day? Apparently, using the atms with Banco Progreso you receive the rate from several days prior.

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    Quote Originally Posted by jimmythegreek View Post
    Other question-If you use the atm at Vimenca, is it possible you will get the rate from the prior day? Apparently, using the atms with Banco Progreso you receive the rate from several days prior.
    I have no idea when the banks select the rate they use. And probably different banks have their own process. They are just trying to give a safe rate close to the market, and I am sure they try to err on the safe side for them.

    The actual currency market fluctuates for various reasons... economy and trade market are just a couple of factors, including foreign exchange trade market...

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