Anticipated Blip in Exchange Rate at First of Coming Week

Ken

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Jan 1, 2002
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Someone I consider a reliable source told me today to expect a temporary blip in the exchange rate during coming week. He wasn't sure as to the reason, possibly people from previous administration unloading lots of pesos in exchange for dollars, but he expected to see the exchange rate go to possibly 35 to 1.
But not to expect this to last long.

No guarantees. Don't shoot the messenger if it doesn't happen. But source very reliable.
 

Hillbilly

Moderator
Jan 1, 2002
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Actually I think Ken may well be right

He hedges his pronostications, but it stands to reason that with dollars at a two year low, a lot of the people with peso holdings might like to purchase dollars. So might those who are Christmas shopping and will need dollars to pay the bills.


Why wait for a miracle or 20::1? Which I do not see coming..

I think he might have it right.


HB
:D:D
 

Ken

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Jan 1, 2002
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Argo said:
;)

Had a reliable source tell me in may rain someplace on the island next week, nothing significant but expect some rain at some point

No guarantees, but it is likely

Come on Ken, you can do better than that :)

A>

Sure I'm hedging because I am passing on something told me. But there is reason to think the info is valid. On Thursday afternoon Banco Santa Cruz in Sosua, usually one of the best excange rates here, was quoting 27 to 1 and indicating they were expecting it to go to 25. Friday morning Banco Popular was giving 28 to 1 and in the afternoon 30 to 1.

The person who gave me the info is in a position to know what is going on with the exchange rate. It is important to him in his busines. Though he didn't have the specifics on what is causing the upswing in value of the dollar, he said he expected the dollar to continue to strengthen because there was suddenly a very big demand for dollars. His theory was that people from last administration are trying to cash in large quantities of pesos for dollars.

He predicted it won't last long, but that it could go to 35.

We'll see.
 

suarezn

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Feb 3, 2002
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It's Sunday evening and I just checked Envios Boya's website. They are paying 34/1, which means you can get around 35/1 on the streets.
 

Camden Tom

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Dec 1, 2002
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When somebody has a rep for not being a bull $hitter..

I for one appreciate the info and the manner in which it was presented

..it's best to listen. Ken, let's you and me get in the money speculation business. ;)
 

calamardoazul

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Jul 29, 2003
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Dollar seems to going up

Tomorrow morning is expected to be around 35:1....let?s see what happens.
It?s not witchcraft.... :alien:
 

Simon & Nicky

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Feb 3, 2004
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www.simon-hall.co.uk
I see no change?

Bloomberg

8:30am and Bloomberg still reports 30/1 and they keep this site updated pretty much all the time. The pound swings around constantly against the peso reflecting changes in the pound / dollar rate so I would guess it is constantly updated. If you can get 34 or 35 today then in my opinion, right now, that's quite a result.

Simon
 

suarezn

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Feb 3, 2002
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It looks like a false alarm. Envios Boya is back to 28.5 this morning. However the fact that they had it at 34/1 last night tells me that it's going to go back up very soon. Apparently they raised it last night for a brief period, but then decided to bring it back down. I should have sent some money last night...
 

Lechero

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Aug 11, 2004
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Zero Liquidity!

First of all....great Head's up Ken!

Just out of curiosity, did anybody else try to buy a sizeable quantity of $US Dollars below $RD 30 PESOS? Guess what, $US Dollars could not be bought at 30, and now you can not buy 'em at 35. Where can I apply for the job of Finance Manipulator or (Minister .....excuse me!)

If this POST is going to be deleted like my last one, I would like a private message please from THE MODERATOR with an explanation. It is on topic and is non confrontational. I am getting tired of being CENSORED!
 
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Robert

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Jan 2, 1999
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Lechero said:
If this POST is going to be deleted like my last one, I would like a private message please from THE MODERATOR with an explanation. It is on topic and is non confrontational. I am getting tired of being CENSORED!

I removed a bunch of posts, yours just got caught up in the mess.
It happens, moderating is a thankless task and sometimes innocent posts get deleted.