Black market for changing dollars?

europeanguy said:

Is there a big black market for exchanging dollars?. I have never thought it existed until I ran across another forum where I saw a remark made on this, where the person involved got all valid pesos bills for 36 to 1 in a shop, while the bank paid 31.25 to 1.

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Exchange money at a bank end of story.

when it's too good to be

europeanguy said:

Is there a big black market for exchanging dollars?. I have never thought it existed until I ran across another forum where I saw a remark made on this, where the person involved got all valid pesos bills for 36 to 1 in a shop, while the bank paid 31.25 to 1.

Click to expand...

true it's........(fill in the blanks)

europeanguy

Is it really worth the risk? - especially if it's a large sum of money........and if it's a small amount - then what's the point? The money gained will be insignificant.

Play it safe and go to the bank

Daydream

Fast Hands and Dodgy Bills

Some if not many of the money changers on the street are very clever at leaving you with fewer bills than you expected to get. They are as clever as the three card monte scammers in US cities. There is a high risk of getting stuck with counterfeit notes. It is NOT worth the risk!

plus there was a rash of bogus 2000 peso notes going around. My gf's father works at a bank and went so far as to say dont accept any 2000 peso notes when youm exchange currency if you can help it. I did and went to a local bank that my GF's sister works at and they checked them , and verified they were in fact good.....so maybe I got lucky.

if it is too good to be true, it probably is...all they would have to do is offer only 1 peso more to get most of the action...offereing that much is sign of bad news....

bob

forget it

Never change money anywhere but a bank....or an exchange house where you are used to doing business.

I see people posting about rates they got on the street. NEVER change money on the street! Changing money on the street opens up 3 avenues for you to get screwed. They are:

1) The guy changing your money pulls a fast one and screws you out of some of it.

2) You get one or more counterfeit bills.

3) Ladrones watch you changing money in the street and now know how much you changed and see what pocket you put it into.

And a "black market for changing money"? Forget it.

Larry