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Thread: Dominican Peso

  1. #1
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    Default Dominican Peso

    I went on a currency converter and saw the current exchange rate of US dollars as 40.40 peso for each dollar. Again it seems the peso is being devalued. I have CDs in pesos at Banco Leon and am contemplating cashing them all and and spending pesos before they go up to 50 to 1 US. Is anyone else contemplating any moves?

  2. #2
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    why would you make deposit in pesos observing trend in last few years ? its going downhill....while the prices are going up ;]

  3. #3
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    I'm from Boston, and even I knew that!!
    "C'mon 50 to 1!!!
    CCCCCCC

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  5. #4
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    Quote Originally Posted by BostonMary View Post
    I went on a currency converter and saw the current exchange rate of US dollars as 40.40 peso for each dollar. Again it seems the peso is being devalued. I have CDs in pesos at Banco Leon and am contemplating cashing them all and and spending pesos before they go up to 50 to 1 US. Is anyone else contemplating any moves?
    not good. it was 39.85 last friday

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    Quote Originally Posted by BostonMary View Post
    I went on a currency converter and saw the current exchange rate of US dollars as 40.40 peso for each dollar. Again it seems the peso is being devalued. I have CDs in pesos at Banco Leon and am contemplating cashing them all and and spending pesos before they go up to 50 to 1 US. Is anyone else contemplating any moves?
    Maybe it's because I don't know what you mean by CDs but if you're living in the DR why would you be worried with the fact that the peso is worth less than the dollar. Only if you went to The States it would bother you right?

    So if you know you're going to The States soon and you can live of a certain amount peso you've got now then I understand why you would want to exchange everything else.

    As I was typing this, is what you mean that you want to exchange a lot of peso in to dollar now and later on you want to exchange them back to peso to make profit?

    I'm confused.. CDs?

  7. #6
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    I presume, correct me if I am wrong but you hold Certificates or Certificados which pay an enhanced rate of interest and are for a fixed period?

    I have had a few of these that I have liquidated over the past year back into dollars. It is not a time to be holding large peso deposits.

    Quote Originally Posted by BostonMary View Post
    I went on a currency converter and saw the current exchange rate of US dollars as 40.40 peso for each dollar. Again it seems the peso is being devalued. I have CDs in pesos at Banco Leon and am contemplating cashing them all and and spending pesos before they go up to 50 to 1 US. Is anyone else contemplating any moves?

  8. #7
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    CDs= savings afaik.

    It would be still better to have USD as savings as the prices in pesos go up...while interest of savings account in peso won't go up with prices...thats my opinion....

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    As Criss claims, I think dop goes to 50/1

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    it would be really nice information, if the prices wouldn't go up by 25 % at the same time... most of the things here are imported...salaries will stay almost the same as always...so more desperation for local people :/

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    First of all the Peso has been fluctuating between 38.75 and 40 per US dollar for the last year. The slight devalue is probably due to the budget problems and increased taxes just implemented by the DR government. One thing I don't understand and another person brought this up, if you are spending the pesos in the DR than why wouldn't you want the value to increase? If you are converting the Pesos back to dollars your thought process might make sense. If you are cashing in the CDs and taking the Pesos and spending them it makes no sense at this time.

    LTSteve

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