Lechero said:
The author of this thread, Suarezn, does not seem to be very educated on the basics of foreign exchange or care very much about the general welfare of The Dominican people. He/She seems very self centered about how many Pesos He/She gets for HIS DOLLAR and not much else.
Dude don't even start with the personal attacks. You DON"T KNOW ME! You're pretty new around here. Why don't you go back and read some of my hundreds of posts that I've made over the last five plus years in this board and get educated on what I stand for, before you start talking about me.
Let me ask you this. How many people in your family depend on the remittances you send them? How many USD's do you spend on a monthly basis in the Dominican economy? Have you seen prices for anything drop?
Mk-Ultra: You said that "as the peso was getting weaker and made it to around 50:1, the prices went up and the wages remained the same, which put a real hurting on the average dominican earning pesos". You're absolutely right about that. People who were getting USD's were doing fine, probably even better than before.
Now the USD goes down, but prices stay the same, which means that those people you mentioned are still hurting and the people who get USD's are also going to hurt just as much.
I don't know when governments in The DR are going to understand that volatility in either direction kills the economy. It doesn't matter at what level the dollar is bought as long as there's long term stability.
Right now the economy is almost paralized, as people wait and see how low it will go and are putting off any major purchases in expectation that the prices will go down any day now.
BTW nobody in this board or anywhere else prefers Hippo. You guys couldn't get a joke if it hit you in the face...jeezz