Get your heads around this - answers on a postcard please.....
Changed 1000 dollars yesterday afternoon (Saturday 17th) at the little exchange shop almost opposite PJ's in Sosua. Rate was 42.50.
The accepted global exchange rate since close of trading Friday evening (rates tend not to change over the weekend) was 42.00 see http://www.bloomberg.com/markets/index.html
The exchange kiosk must have known the rates: They had all the info they needed since the day before so why undersell yourself by a minimum of 500 pesos? And let's face it - surely you would want to make a small profit on each transaction so I would say they have undersold by at least 1000 pesos.
The only reason I can think of is that they know that the dollar / peso rate is going to drop like a rock next week and consequently they want to be holding as many dollars as possible at any cost. Is this what they call a conspiracy theory?
Simon
Changed 1000 dollars yesterday afternoon (Saturday 17th) at the little exchange shop almost opposite PJ's in Sosua. Rate was 42.50.
The accepted global exchange rate since close of trading Friday evening (rates tend not to change over the weekend) was 42.00 see http://www.bloomberg.com/markets/index.html
The exchange kiosk must have known the rates: They had all the info they needed since the day before so why undersell yourself by a minimum of 500 pesos? And let's face it - surely you would want to make a small profit on each transaction so I would say they have undersold by at least 1000 pesos.
The only reason I can think of is that they know that the dollar / peso rate is going to drop like a rock next week and consequently they want to be holding as many dollars as possible at any cost. Is this what they call a conspiracy theory?
Simon