Canadian Exchange Rate

VJS

Bronze
Sep 19, 2010
846
0
36
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.

You got $45.01 from an ATM, when the best cash rate at the time was 44.80-44.90? Me doubthful. Post the image of the transactiom slip, something is off.

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.

This sounds like a normal rate for an atm.
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
You got $45.01 from an ATM, when the best cash rate at the time was 44.80-44.90? Me doubthful. Post the image of the transactiom slip, something is off.



This sounds like a normal rate for an atm.

Well the entire transaction came out to $269.27 on $RD12,000 and $120 ATM ($2.67) Fee-which will be rebated back to me today from my bank. So $12,000/266.6=45.01
 

Astucia

Papa de Negrita
Oct 19, 2013
678
365
63
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.

Webby - I just checked - April 28, 2015 $10,000 RD cost 279.70 CAD = 35.73.

Which would be about right @ .82, no ?

Not $300 back then.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
Asty, I can tell you - I paid $295-300CAD several times in late April for 10,000.

no mistake here....
I know it b/c I was heading back and was into my Cdn account - a rarity for me in RD

The CAD conversion usually stinks - try cash and watch what happens.
 

VJS

Bronze
Sep 19, 2010
846
0
36
Well the entire transaction came out to $269.27 on $RD12,000 and $120 ATM ($2.67) Fee-which will be rebated back to me today from my bank. So $12,000/266.6=45.01

Assuming you got 12,000 pesos in your hands and your account was debited $269.27, the exchange rate was 12000/269.27 = 44.56. The bank is returning you 120 pesos transaction fee as an additional service to you to keep you happy while they are screwing you somewhere else for 100 times that. Also the number of rebatable atm transactions per month may be limited as per your agreement.
 

Contango

Banned
Dec 27, 2010
2,196
5
0
So in other Words, if you have $1000 Cad ( or higher) its better to first exchange it to USD, and THEN buy your Pesos? Is that the consensuses.. Because on lower CAD amounts lets say $20 it would be a lower exchange rate when buying USD..

I've never exchanged CAD in the DR ( except when using Credit Cards) Always come with the Green Back to the Island... But with the DIVE in the CAD, I'm trying to think of/if there are more creative ways..
 

Astucia

Papa de Negrita
Oct 19, 2013
678
365
63
Asty, I can tell you - I paid $295-300CAD several times in late April for 10,000.

no mistake here....
I know it b/c I was heading back and was into my Cdn account - a rarity for me in RD

The CAD conversion usually stinks - try cash and watch what happens.

Well - all I can tell you is what my Scotia online account shows. And I watch it VERY closely.
April 28, 2015 $10,000 RD cost 279.70 CAD

Not trying to get into an argument with you.

Are you using CAD Scotia debit card at Scotia ATM here ? Maybe we're not talking apples to apples.
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
Assuming you got 12,000 pesos in your hands and your account was debited $269.27, the exchange rate was 12000/269.27 = 44.56. The bank is returning you 120 pesos transaction fee as an additional service to you to keep you happy while they are screwing you somewhere else for 100 times that. Also the number of rebatable atm transactions per month may be limited as per your agreement.

Nope-your assumptions are incorrect. First off, I am rebated unlimited atm fees per month, so you can take that cchip off your shoulder. In terms of the exchange rate, the atm fee has been rebated, so 12000/266.6=45.01. That is the raw number minus the 120 atm fee.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
Well - all I can tell you is what my Scotia online account shows. And I watch it VERY closely.
April 28, 2015 $10,000 RD cost 279.70 CAD

Not trying to get into an argument with you.

Are you using CAD Scotia debit card at Scotia ATM here ? Maybe we're not talking apples to apples.
Yes Cdn card...
to be fair, it was April 20 or so, and earlier - not as late you.

So in other Words, if you have $1000 Cad ( or higher) its better to first exchange it to USD, and THEN buy your Pesos? Is that the consensuses.. Because on lower CAD amounts lets say $20 it would be a lower exchange rate when buying USD..

I've never exchanged CAD in the DR ( except when using Credit Cards) Always come with the Green Back to the Island... But with the DIVE in the CAD, I'm trying to think of/if there are more creative ways..

Pretty easy to do the math at the time Tango.
Knee jerk answer is 'Yes, switch to US$$'...

I only keep US, always.
My friend who has an apartment in Toronto has stocked up big time on CDN $$..... buying down to 80 cents.
He's happy..... but is based in US$$, so for him , it's a boon.
 

Contango

Banned
Dec 27, 2010
2,196
5
0
Yes Cdn card...
to be fair, it was April 20 or so, and earlier - not as late you.



Pretty easy to do the math at the time Tango.
Knee jerk answer is 'Yes, switch to US$$'...

I only keep US, always.
My friend who has an apartment in Toronto has stocked up big time on CDN $$..... buying down to 80 cents.
He's happy..... but is based in US$$, so for him , it's a boon.

Yes, and it was a boon for me back in 2011 when I bought my Condo exchanging the CAD $1 for at one time worth $1.04 USD.. Those were the good ole days the CAD at PAR with the Greenback.. We will NEVER see that again for the next 50 years.. I guarantee you that..
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
yup, the goovernment likes it at 80-85 cents.....won't return for a while to par

you can see the tourism increases here on Lake Huron 77 cent dollars.

We had beers the other day w/ my daughter calculating how cheap it was (NYC = her)
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
yup, the goovernment likes it at 80-85 cents.....won't return for a while to par

you can see the tourism increases here on Lake Huron 77 cent dollars.

We had beers the other day w/ my daughter calculating how cheap it was (NYC = her)

Yeah, NYC is cheap, LOL.
I guess for a Rockafella such as yourself.
So a $12 cocktail costs $10.20, drink up.
 

windeguy

Platinum
Jul 10, 2004
42,211
5,969
113
Yeah, NYC is cheap, LOL.
I guess for a Rockafella such as yourself.
So a $12 cocktail costs $10.20, drink up.

I think WW was saying that the higher value of the US dollar was increasing tourism in Canada, not that NY was cheap.
 

Contango

Banned
Dec 27, 2010
2,196
5
0
Yeah, NYC is cheap, LOL.
I guess for a Rockafella such as yourself.
So a $12 cocktail costs $10.20, drink up.

Get your context correct.. Sheesh! That's not what Webster was saying... He was basically saying its cheaper for you Mericans to come on up North.. with our 75 cent dollar
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
Oooops, my bad, what was I thinking Tanga ...feel free to pile on.
Do you have a crush on Webster, you seem to follow him around?
I'll have to pop over the border for some suds when I figure out this Fx thing, sooooo confusing.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
Yeah, NYC is cheap, LOL.
I guess for a Rockafella such as yourself.
So a $12 cocktail costs $10.20, drink up.
Piling on here.... do the math again Einstein...- .76 x $12 will bring you out around $8
If you come to Canada to buy me one, that's what it will cost in US$$
I am a cheap date !!

I think WW was saying that the higher value of the US dollar was increasing tourism in Canada, not that NY was cheap.
right Windy

Get your context correct.. Sheesh! That's not what Webster was saying... He was basically saying its cheaper for you Mericans to come on up North.. with our 75 cent dollar
Correct
, tourism shoots way up. Bargain prices.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
I saw your post mentioned daughter, who if I recall lives in NYC, whatever I MADE A ****ING MISTAKE!

Maybe we can get Dee Vee Ocho to start a new thread!

I think it's time to go to the beach and light up.
 

william webster

Platinum
Jan 16, 2009
30,247
4,330
113
NYC daughter (& novio) are here for the week............

You still need to buy me a fruit juice...........'con' for me por favor
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
I'll buy you a Who Go @ that Car Watch in Gasping Her Nana by the Helados Bon next trip down.
I'm thinking of Halloween, gonna dress up as Derfish.
Should I bring Loonies or Yuan?
 

Contango

Banned
Dec 27, 2010
2,196
5
0
Oooops, my bad, what was I thinking Tanga ...feel free to pile on.
Do you have a crush on Webster, you seem to follow him around?
I'll have to pop over the border for some suds when I figure out this Fx thing, sooooo confusing.

Whats up with your PM. it says you aren't accepting any from anyone... Guess you are CEO now.. my freng..