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  1. #1
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    Default Planned peso rate 20 : 1

    I was told today that they are going to try to get the peso rate down to 20 to 1 and hold it there until just after Christmas.

    At the same time none of the prices are coming down. In fact most of them are going up. Then we have the increased taxes across the board.

    Leonel the savor? Looks like he is more corrupt than little hippo. I'm wondering how he is going to pay these loans back as all the foreign money moves out.

    This really f*cks up my budget.

  2. #2
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    Quote Originally Posted by gringo in dr
    I was told today that they are going to try to get the peso rate down to 20 to 1 and hold it there until just after Christmas.

    At the same time none of the prices are coming down. In fact most of them are going up. Then we have the increased taxes across the board.

    Leonel the savor? Looks like he is more corrupt than little hippo. I'm wondering how he is going to pay these loans back as all the foreign money moves out.

    This really f*cks up my budget.
    A quick perusal of six months worth of grocery bills (I am saving them, out of curiosity) tells me that prices peaked mid-July and have either remained the same or came down in almost all cases. Two of these exceptions (that are more expensive now than in July) are diet coke and gatorade, which maybe we should quit anyways. Fresh produce and local brands are cheaper in general.

  3. #3
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    Quote Originally Posted by Pib
    A quick perusal of six months worth of grocery bills (I am saving them, out of curiosity) tells me that prices peaked mid-July and have either remained the same or came down in almost all cases. Two of these exceptions (that are more expensive now than in July) are diet coke and gatorade, which maybe we should quit anyways. Fresh produce and local brands are cheaper in general.
    I buy both local and imported items. I have noticed the local chicken prices have not come down from the high yet. Imported items such as cream cheese and cottage cheese have constantly gone up.

    We also have to remember the new taxes haven't kicked in yet.

    Someone else posted that one of the resterants told her their prices are going to be raised by 25% tomorrow.

    Anyone calculated the price of gas at the new rate of 28? Getting close to $4 a gallon for la buena.

    My light bill at 28 comes out to $350. Somehow those 6 - 8 hours of power don't seem to justify that.

  4. #4
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    Default R D B B C

    Welcome to "The New Economy".

  5. #5
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    Cool Peso up, prices up too

    I have a restaurant in Puerto Plata and can tell you in the past month the price of chicken has remained the same. Of course the price of propane gas has doubled with the loss of subsidies, it was a nice ride while it lasted.
    The IBIS tax goes up 4% that's reflected in beer, refrescos etc. I can see bumping up prices by 5% but you can also price yourself out of the market.
    My business is 95% local and for the business core the spendable income can't get much tighter.

  6. #6
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    Quote Originally Posted by gringo in dr
    I buy both local and imported items. I have noticed the local chicken prices have not come down from the high yet. Imported items such as cream cheese and cottage cheese have constantly gone up.
    You are right about chicken. 1 lb of boned chicken breast was $54.95 on Jul 4 and $124.95 Sept 26 . Eggs on the other hand are cheaper, so are plantains, and other products. In general whatever has come down has not done so on the same level as the dolar. And some things are inexplicably way more expensive than in July. Still, in general our grocery bill is a bit cheaper.
    Last edited by Pib; 09-30-2004 at 11:24 PM.

  7. #7
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    As we all tend to like & eat different things, it is not surprising that there are discrepancies in the weekly shopping basket. Those who concentrate on LOCAL goods may find their weekly shop a little cheaper, those that concentrate on IMPORTED goods will certainly be paying higher weekly bills now - the lower exchange rate hasn't hit the shops yet (will it EVER??). Perhaps one of the main reasons for not having a reduction in food bills is (as Gringo in DR suggested) the very increased petrol prices. This is making transportation much more expensive for the suppliers!!

    Perhaps we could change direction slightly here & try to determine WHY the exchange rate is coming down. Is it Government controlled again?? I thought the IMF insisted on a free float exchange rate before they would consider continuing talks on making the US $1 billion standby arrangement? Have they now turned a blind eye to this condition?

    Is it being 'Tweaked' so as to buy loads of U$D so that the electricity companies & distributors can be paid off their debts?? What OTHER U$D debts are likely to be paid out of this bonanza of low cost U$D for the next 3 or 4 weeks?? What is going to happen to the RD Peso once these debts have been paid off by the Government & the U$D starts to find it's TRUE level again?? What is the betting it will surge to RD $36 + to US $1.00 (at least), most likely RD $40.00 : 1!! I bet the shopping price for the weekly shop will then go bouncing back up to where it was 4 to 5 weeks ago!!!

    It cetainly would be great to get some reliable/believable information from this Government as to where it is going, WHY the exchange rate is being manipulated & WHERE the U$D being bought are going!! ~ Grahame.

  8. #8
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    Default Manipulation

    In this country, never!
    Whoever is controlling this is Bigger than Baldie and has bigger traders this time.
    What do you think it costs to join the RDBBC?
    Can you marry into it?
    What are the monthly dues?
    I want in.

  9. #9
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    Default

    It cannot be a real 'market' rate since you cannot buy dollars at the current rate, or so at least I've been told.

    I have a CD in pesos maturing Monday and I'm thinking about buying dollars with it, I will find out later today if there are any buyers at 25-27 which is the rate some of the exchange houses are apparently offering.

  10. #10
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    Cool Gas prices

    For those thinking in the terms of dollars, it's comforting to know the price of regular gas is now around $3.50 a gallon pending todays' weekly adjustment.

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