Canadian Exchange Rate

AnnaC

Gold
Jan 2, 2002
16,050
418
83
So we can not discuss on this thread what might be impacting our exchange rate through the ATM? I am sure that this would be helpful information for other DR1'ers that have the same problem in the future.

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. :)
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
The Loonie never gets its fair value vis-a-vis the US$$....in 'The Republic' or the Dominican.......take your pick
 

amp

Bronze
Oct 5, 2010
730
8
18
I think Canadian Dollars were 38 something today when I saw. Don't remember the exact decimal price.
 

AnnaC

Gold
Jan 2, 2002
16,050
418
83
Can someone please check that. I'm sure we can get more pesos for a loonie at a cambio than we can in canada

I'll post my take on loonies to us to pesos later today when I have more time
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
I can help here Anna

I was getting 10,000 pesos at Scitia ATM and paying $295-300CAD at the end of April.
I posted that on the daily rate thread back then.

Rates ahve changed but we can link the values at the time
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
April 20/15 the Loonie was 1.222 or 81.79, depepnding on your view'
so if the peso rate was 44.... the CAD should pay35.99 ////// at that time

at today's 45, CAD should get 34DRP (45 x .76)
 

VJS

Bronze
Sep 19, 2010
846
0
36
I saw CAD exchange rate at a Western Union posted at 32 and something - that was 2 days ago,
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
I can help here Anna

I was getting 10,000 pesos at Scitia ATM and paying $295-300CAD at the end of April.
I posted that on the daily rate thread back then.

Rates ahve changed but we can link the values at the time

April 20/15 the Loonie was 1.222 or 81.79, depepnding on your view'
so if the peso rate was 44.... the CAD should pay35.99 ////// at that time

at today's 45, CAD should get 34DRP (45 x .76)

so, to finish

I was getting 34 then.... and the dollar was better at that time

I agree w/ the opinion that the CAD gets clobbered - even by ScotiaBank.

Maybe somebody else has a higher math intellect than I do..........

I rarely swap CAD for DRP........ I was squeezed in April......
 

AnnaC

Gold
Jan 2, 2002
16,050
418
83
I saw CAD exchange rate at a Western Union posted at 32 and something - that was 2 days ago,

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

In March it was 34 in Dominicus then it dropped to 32

So here is my thinking and please correct me if this doesn't sound right. Dealing with global currency serves here were I live let;s play with 1000 Canadian

1000 CAD will get me 29726.91 pesos here

1000 will get me 744.35 US (ouch)

744.35 US X 45 will get me 33495.75 pesos in DR

that 3000 plus pesos more Right?
 
Last edited:

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
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.
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
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.
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
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.
 
Apr 13, 2011
680
0
0
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...
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
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.
 

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
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.
 
Apr 13, 2011
680
0
0
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...