- Thread starter ricktoronto
- Start date
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Current Peso/ US$ Rate
Re: savings???? where????
doug, you are NOT taking everything into account!!!!
the currency of RD is the peso. for almost all travellers there is no issue of converting CDN $$ to pesos whether it be cash or traveller's cheques. it is easily done. there is NO need to buy US$$ to then convert to pesos.
if, as the typical traveller, you feel the need to save that CDN$30 (the equivalent of a case of beer), then you must also consider that your purchase of US$$ is creating a "false demand" for US$$, and will, in our free-market system, lead to an increase in value to US$$ and a corresponding decrease in value to CDN$$. that is how the market place works.
now i don't know about you, but my business is suffering greatly with a $0.62(today) exchange rate, and certainly the Canadian who started this digression on rates was not happy with it either. that $30 saved was at the cost of many imported goods whose prices could be a heck of a lot lower if our dollar was stronger. one might compare it to buying $50 tires for your car that last only a third as long as the $100 tires. i guess some might rationalize a savings somewhere.
as i said before, i realize that one person will not make a difference, but if you consider the thousands of Canadians travelling each year who might follow your suggestion then you will see the effect. if you check the DR1 news reports of thursday, or possibly wednesday, there was a brief about why the peso has declined relative to the US$.
just so you know, i have been travelling the Caribbean and Mexico since the mid-eighties with never a problem using CDN$$. it has only been in the last 3 years or so that tour companies have been pushing the use of US money as a preferred alternative. but i've never been able to get a logical reason why from them .
mob.
doug said:it's better with USD......with EVERYTHING takin into account!
doug, you are NOT taking everything into account!!!!
the currency of RD is the peso. for almost all travellers there is no issue of converting CDN $$ to pesos whether it be cash or traveller's cheques. it is easily done. there is NO need to buy US$$ to then convert to pesos.
if, as the typical traveller, you feel the need to save that CDN$30 (the equivalent of a case of beer), then you must also consider that your purchase of US$$ is creating a "false demand" for US$$, and will, in our free-market system, lead to an increase in value to US$$ and a corresponding decrease in value to CDN$$. that is how the market place works.
now i don't know about you, but my business is suffering greatly with a $0.62(today) exchange rate, and certainly the Canadian who started this digression on rates was not happy with it either. that $30 saved was at the cost of many imported goods whose prices could be a heck of a lot lower if our dollar was stronger. one might compare it to buying $50 tires for your car that last only a third as long as the $100 tires. i guess some might rationalize a savings somewhere.
as i said before, i realize that one person will not make a difference, but if you consider the thousands of Canadians travelling each year who might follow your suggestion then you will see the effect. if you check the DR1 news reports of thursday, or possibly wednesday, there was a brief about why the peso has declined relative to the US$.
just so you know, i have been travelling the Caribbean and Mexico since the mid-eighties with never a problem using CDN$$. it has only been in the last 3 years or so that tour companies have been pushing the use of US money as a preferred alternative. but i've never been able to get a logical reason why from them .
mob.
Doug doug doug
Being a bonafide cedula holding resident of the DR I have little use for changing CDN to USD. I don't know where I would get the CDN from.
Beads on the beach means braids. I will be waiting for your next visit and hold you to it. I have 2" long hair, so you better bring your extension kit!!
I buy oysters/shrimp/fruit on the beach to support the locals, yes, and I pay what I would at Playero or less.
I stand by my comment that by friends would laugh if I told them how to save $30 bucks on a $5000 vacation. And if you don't spend all that cash to the penny, you will be bending over to take it up the tailpipe when you change it back to CDN back home (another trip to the bank).
marc
doug said:Maybe your friends won't laugh....because they might be smarter than you!!! You have to go to the bank to get the cash..Marc.......So, when there.... get US instead of CAD....pretty simple......Or maybe your the type that pays 25 bucks for a fruit plate on the beach, if nothing....including money matters to you! Marc, you just can't come to the realization it's better with USD......with EVERYTHING takin into account!
Being a bonafide cedula holding resident of the DR I have little use for changing CDN to USD. I don't know where I would get the CDN from.
Beads on the beach means braids. I will be waiting for your next visit and hold you to it. I have 2" long hair, so you better bring your extension kit!!
I buy oysters/shrimp/fruit on the beach to support the locals, yes, and I pay what I would at Playero or less.
I stand by my comment that by friends would laugh if I told them how to save $30 bucks on a $5000 vacation. And if you don't spend all that cash to the penny, you will be bending over to take it up the tailpipe when you change it back to CDN back home (another trip to the bank).
marc
Re: Lyse
I was in Santo Domingo in the middle of January. I changed $100US at the airport to pay for taxi and I received 1,700RD or 17.0 for $1US. At Western Union I was getting 17.1RD for $1. So I lost only 10 pesos for the $100 at the airport, not bad. I did change some at the bank because it was right on the corner from where I was staying. Banco Banister (thing the name is right) gave me 17.0RD for $1US. Again 10 pesos for $100. From the ATM the rate was 16.87RD for $1US (i took 3400 and they charged me 201.53). But I think I was there before they started to flost the rate. I normaly use Western Union. We did use a small cambio on a corner once but that was a couple years ago and I don't remember what their rate was
Jerry
I was in Santo Domingo in the middle of January. I changed $100US at the airport to pay for taxi and I received 1,700RD or 17.0 for $1US. At Western Union I was getting 17.1RD for $1. So I lost only 10 pesos for the $100 at the airport, not bad. I did change some at the bank because it was right on the corner from where I was staying. Banco Banister (thing the name is right) gave me 17.0RD for $1US. Again 10 pesos for $100. From the ATM the rate was 16.87RD for $1US (i took 3400 and they charged me 201.53). But I think I was there before they started to flost the rate. I normaly use Western Union. We did use a small cambio on a corner once but that was a couple years ago and I don't remember what their rate was
Jerry
for mondongo
not for the DR peso. It wasnt really allowed to float until very recently.
I dont arbitrage currencies, just trade stocks and some options... Currency arbitrage can also be done on company stock that trades in multiple currencies..
Most arbitrage is done automatically by computer now. www.OandA.com does do currency trading for the major world currencies and seems to have a very nice interface.
not for the DR peso. It wasnt really allowed to float until very recently.
I dont arbitrage currencies, just trade stocks and some options... Currency arbitrage can also be done on company stock that trades in multiple currencies..
Most arbitrage is done automatically by computer now. www.OandA.com does do currency trading for the major world currencies and seems to have a very nice interface.