Get out your $$$$$$Dollars,and "Come On Down"!

C

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
The "Headline" is the same everyday,"Peso at ___ to one!" You just have to keep changing the number.Today's number is.............."May I have a drum roll please?" 32 to 1!!!!!!!!!!!!!!!!!!
Your "Dollars" will go far in the "DR"!!! I'm going to change some right now!!!! CRIS COLON:bandit:
 
K

kjdrga

New member
Mar 25, 2002
424
5
0
33 in the agecias de cambio..................there's no where else to go but up! By the time the Pan Am games roll around it'll be at 40-45!!!!!!!!
 
J

Jwb

New member
Jan 10, 2002
254
0
0
Yahooooooooo!

Let me take a crack at this, the more the RD devaluates, the better it is for the Greenback holders. But, won't this trend lead to a case of hyperinflation hence causing the market to apply corrections.
 
Last edited:
C

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
I would suggest you change dollars to pesos only as you need them.

Lets call it "Averaging Out" of your dollars.I am VERY conservative when it comes to managing my money.I make money the "Old Fashioned Way",I ***** it!(I'll leave it to your "Imagination"!) The trend seems to be up.The banks/exchange houses/and the people are not "selling" dollars only "buying".That should indicate a further decline in the value of the peso against the Dollar!I just have to pay my electric bill,and "Summer Camp" for the boys,thats why I'm changing some Dollars now. Cris Colon
 
C

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
"Peso Crisis provokes Panic!"

That is one of the "Headlines" in today's DR1 News report(Look at DR1's "Homepage" to find them! DO IT!!PLEASE!!!)
Todays "Good",or "Bad" News,depending on your point of view,and access to "Dollars",is that the Peso is at 33 to 1! Or MORE!
Cris Colon
 
A

AZB

Platinum
Jan 2, 2002
12,290
519
113
My friend called me from santo domingo and told me the dollar is being sold for 36 to 1.
Now we are really in for some serious crisis. Hold on to your hats boys, this will be a steep ride.
 
J

Jwb

New member
Jan 10, 2002
254
0
0
Oh Man !

I guess you're right CC, I'll Hang on to see how far it will go before jumping in. This crisis is turning out to be a double edge sword. On one hand I would love to see my dollar rise so I can come on down and splurge. But on the other hand I feel real sorry for the wifes family. ai Dios mio! :confused:
 
R

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
4,837
0
0
Just How Much Spread do Cambios Earn?

AZB said:
My friend called me from santo domingo and told me the dollar is being sold for 36 to 1.
Now we are really in for some serious crisis. Hold on to your hats boys, this will be a steep ride.
Click to expand...


There seems to be a lot of selling $ at 33,34,35,36 to 1, if you can get dollars - is the peso moving in step if you are selling dollars? I mean that a cambio should not be able to sell tourists at 27 or 28 to 1 then take those $ and sell at 36 to 1 to Dominicans who want US$.

Not when spreadas have been a lot narrower for them.

If I go down again on June 28th - and the rates are this extreme am I getting 35:1 buying pesos? If not I'd do better selling US$ to Dominicans and that sets up black markets for $ on the street.
 
C

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
The "Un-Licensed" buying or selling currency is illegal!

The normal "spread" is about 1 peso.Right now you will be able to "sell" all the dollars you can find! If you need to "buy" dollars,you will have trouble finding anyone who wants to sell them.Why? The value of the peso is falling so fast,no one want to sell dollars today that "MAY",and I emphisize "MAY", be exchanged at a much higher rate tomorrow.Since the rate of exchange is "artificial" here,the rate will change when the politicians,money changers,and rich business men who are holding dollars decide it is time to sell them!YOU can't "Time" the market,because YOU don't "control" the market! If you are here and have some dollars,change only what you need for a day or two.Enjoy the country,and don't worry about the exchange rate! Cris colon:cool:
 
C

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
Peso Update!

From when I called this morning,and when the messenger got to the "Casa de Cambio" with my check,the peso went up to 34!I'll have to spend them all tonight,so I won't fell bad in the morning when it gets to 37! Sounds like "La Argentina",or Brazil several years ago! CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCc
 
R

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
4,837
0
0
Re: The "Un-Licensed" buying or selling currency is illegal!

Criss Colon said:
If you are here and have some dollars,change only what you need for a day or two.Enjoy the country,and don't worry about the exchange rate! Cris colon:cool:
Click to expand...

I do enjoy the country and while I won't change US$200 at a time which I used to (to save going to the cambio every day) if they are selling US$ at 36 I hope to get 34 and not 27 or 28 which was what I was trying to get a handle on. I cannot imagine vs. 1 year ago handing over US$ and getting 3,400 RD$ when I got 1,675 in October.

Of course by the 28th maybe 38 or 39. Cigars were stable in pesos when I was there in May (vs. last year) so should be even less.
 
G

getonwithit

New member
Mar 17, 2003
130
0
0
Re: Deflation?

tondra said:
There was a news story on the net today saying that the US may be headed for deflation. Will this affect the peso to dollar exchange rate?
Click to expand...

no.
sorry....there's not much else that can be added to that.
 
A

Amber

New member
Jan 24, 2003
318
2
0
60
How sweet..

So just avoid the obvious fact that whatever you will be buying with all the pesos you will be getting for your dollars will be more expensive? Let?s just have fun with the nice numbers, huh? And to those who live here and earn pesos, too bad..

To think that some of you profess a liking to the Country and the people here. Why should I expect anything but glee at the crisis we are facing?
 
T

tondra

New member
Dec 12, 2002
232
0
0
www.professionalsintouch.com
My knowledge of economics is very poor

The reason for my question regarding how deflation might affect the peso to dollar ratio was that with the dollar weaker the ratio would be smaller. I guess not. I was trying to look for a bright spot for Dominicans.

Tondra
 
S

sjh

aka - shadley
Jan 1, 2002
969
2
0
52
www.geocities.com
It is at best a bitter sweet turn of events for american dollar holders. While we are better off, it hurts to see our friends, families, and employees suffer.
 
G

getonwithit

New member
Mar 17, 2003
130
0
0
sjh said:
........ it hurts to see our friends, families, and employees suffer.
Click to expand...

i am in the unenviable position of being a foreigner, earning pesos , not an insignificant amount of pesos, with dominican employers who earn salaries linked to dollars. a position, i suspect, shared with other posters on dr1.
i have gone beyond despair now and don't care if the peso drops to rd$100 to the dollar - i have little or no chance of visiting my family and friends in europe for the next few years.
no, no, i don't want and don't care for your sympathy, but i really, really, really don't believe that my employees are hurting over my predicament or any other of their employees. in fact one of them was very happy to report to me that he was getting rd$5,000 more than the previous month simply because the peso had fallen so. a few years ago i might have belted him one, now i just force a smile....................i just don't care anymore. i just keep telling myself that there are still a lot more people in a much worse position than me - i just wish they would speak out more.
 
C

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
As I have stated many times before "all over"DR1,....

The Dominican Culture does not "allow" them to accept responsibility for anything! They simply "MUST" blame "others" for their problems! Their President is a prime example of this! He has blamed everyone,and "thing",but himself, for the "Free Fall" of the peso! The cause is his Billions of "Borrowed" dollars,whith no possible way to pay them back."Banintergate" was ignored by his administration.
To "Blame "Foreigners" for the problem is not only stupid,it makes poor economics!The $$$$$ that we bring into the country help stabilize the peso,not devalue it! The more we spend,the more you save!
Look "Closer to Home" to find who to blame,it ain't us!!!
I have seen no "Professions of Glee" by foreigners at the current situation here! Nor have I see "Professions of Outrage" by Dominicans with the PRD Government,which would make more sense!!! CRIS COLON
 
Last edited:
You must log in or register to reply here.
Top Bottom