christmas exchange rates.

Kipling333

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Jan 12, 2010
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This week the USA increased their official interest rates, this week is also the week before the christmas week . I would have expected that the dollar would have bought at least one more peso, but there has been no change. Last year, in the same week, there was a two peso jump and the Direstor of the Central Bank said it was normal this time of the year.
 

Mauricio

Gold
Nov 18, 2002
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Apparently the government is forcing the dollar 'down'. The rate is going up slower than you'd expect but the banks don't have dollars (at least not for big amounts). All my clients are complaining they can't get dollars, even though they have the pesos. The banks will comply with the enforced rate but just not let go of their dollars. "We're selling at 45.55, but we don't have any available." Two weeks ago my dollars would sell for 45.15, now for 45.05 (banco popular). Doesn't make sense, but it is what it is. Next year is an election year.
 
Jan 9, 2004
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This week the USA increased their official interest rates, this week is also the week before the christmas week . I would have expected that the dollar would have bought at least one more peso, but there has been no change. Last year, in the same week, there was a two peso jump and the Direstor of the Central Bank said it was normal this time of the year.


Years ago the peso traditionally strengthened a bit in December, with the reason that many Dominicans were either bringing or sending Dollars for the Christmas holiday.

Such is not the case for the last several years as to strengthening.

Over the last few years, the peso has officially traded in a fairly narrow range for the month of December usually weakening a little.....and it did not move two pesos last year in the week before Christmas either officially or unofficially.


Respectfully,
Playacaribe2
 

Tamborista

hasta la tambora
Apr 4, 2005
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This week the USA increased their official interest rates, this week is also the week before the christmas week . I would have expected that the dollar would have bought at least one more peso, but there has been no change. Last year, in the same week, there was a two peso jump and the Direstor of the Central Bank said it was normal this time of the year.

http://www.oanda.com/currency/historical-rates/

Show us where please!
It traded in a very tight range last December.
 

Kipling333

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Jan 12, 2010
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You are totally wrong...if you can be bothered to look at the daily graphs you will see that from early December to late January,,it traded from a little over 43 to a little under 45 . The Central Bank put out a statement sayin it was seasonal..it was not as the rate has been hovering around the 45 peso mark since. even on the graph you provided you can see the dramatic fall in the peso !!
 
Jan 9, 2004
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You are totally wrong...if you can be bothered to look at the daily graphs you will see that from early December to late January,,it traded from a little over 43 to a little under 45 . The Central Bank put out a statement sayin it was seasonal..it was not as the rate has been hovering around the 45 peso mark since. even on the graph you provided you can see the dramatic fall in the peso !!


Your original post referenced a two peso increase in the week before Christmas....and now you want to widen it to early December to late January....presumably an 8 week period...not one week.

The fact remains.....and you can check it yourself....that the official peso rate did not go up two pesos......either in the week before Christmas or in the eight week period you now cite....period.

http://www.bancentral.gov.do/estadisticas_economicas/mercado_cambiario/

Further, using unofficial reported rates from our very own exchange rate thread also refute your claim.

Your post is inaccurate using either time period.


Respectfully,
Playacaribe2
 

Tamborista

hasta la tambora
Apr 4, 2005
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According to the official Banco Central rate:

The lowest Bid to SELL USD from 12/1/14 - 1/31/15 was 44.1422 and highest Bid to SELL USD was 44.7261

http://www.bancentral.gov.do/estadisticas_economicas/mercado_cambiario/

BC Rates 12-14.JPG

BC Rates 1-15.JPG
 

Kipling333

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Jan 12, 2010
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I simply invite anyone who is interested to look at the graph that Tamborista firstly kindly provided and they can judge for themselves if there is a dip or not . you have to change away from the USA to euros to USA against the DR peso . I should have said around the Cristmas period if I had known a pedantic was within.
Of course it is more than possible that the commercial banks .Banco Popular etc, were setting very different rates that the central bank rate .
No I am not going to pee on anyone.. .
 
Last edited:

Tamborista

hasta la tambora
Apr 4, 2005
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I simply invite anyone who is interested to look at the graph that Tamborista firstly kindly provided and they can judge for themselves if there is a dip or not . you have to change away from the USA to euros to USA against the DR peso . I should have said around the Cristmas period if I had known a pedantic was within. I will not comment further .

The link was a chart of the EUR/USD if you click it again, OANDA automatically redirects to their home page.

I provided you with an official record of the tasa from Banco Central from the entire month of December & January. It traded in less than a 1 RD Peso range according to the official source.

It is not a matter of being a pedantic, I am a trader and price is a black / white issue.
 

windeguy

Platinum
Jul 10, 2004
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The link was a chart of the EUR/USD if you click it again, OANDA automatically redirects to their home page.

I provided you with an official record of the tasa from Banco Central from the entire month of December & January. It traded in less than a 1 RD Peso range according to the official source.

It is not a matter of being a pedantic, I am a trader and price is a black / white issue.

There are those who will not accept defeat.