With this recent commercial float of the Peso what is the cash or traveller's cheque rate for the peso vs. US$ in the cambios? Someone local let me know? Thanks.
Marc said:There is no way you will gain anything by paying a bank to change your money twice
marc
Marc said:...they don't work for free. Riddle me this: If I go to a bank and exchange CDN to USD, then USD back to CDN, over and over....will I come out even?
Answer: There's no way! You have to loose! The banks make money everytime they change currency for you. It is unthinkable to me that both you AND the bank AND the money changer in the DR make money by you changing your money twice. Where does the revenue come from?
I am not arguing that your math is wrong, but the logical engineer in me cannot accept that you have discovered a revenue generator in which everyone MAKES money off your transaction, including yourself. I think it is a matter of you mixing up exchange rates and using averages when you have to focus on using SAME DAY, SAME TIME exchange rates.
Dammit! Now I have to dust off the calculator tonight!
marc
Lyse said:
For us Canadians, it's better to bring US when travelling to the D.R. and exchange it for pesos over there.