transfer dollars to pesos- same back

crm

New member
May 5, 2004
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I have tracked the peso against the dollar for the last 2 years and feel that I have a good handle on things. If you had 100 k in a dollars account could you not transfer money back and forth between a peso account with the same bank. Can this be done online ? What type of fees or restrictions are there in place ? With due dilligence and enough capital I would think that I could make a living doing this with minimal risk. Any thoughts...

I tried to search the archives for the answer but to no avail
 

Conchman

Silver
Jul 3, 2002
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i dont think its possible to make money this way, unless you are very lucky. first of all, there is the difference between the buy and sell rate which will take off a few percentage points per transaction. keep in mind that you never get the "official" rate, its always worse. i have not seen a bank that would let you do this online, but maybe someone knows.
 

Rocky

Honorificabilitudinitatibus
Apr 4, 2002
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Conchman said:
i dont think its possible to make money this way, unless you are very lucky. first of all, there is the difference between the buy and sell rate which will take off a few percentage points per transaction. keep in mind that you never get the "official" rate, its always worse. i have not seen a bank that would let you do this online, but maybe someone knows.
It may be possible to do it online.
What's not possible is to make money doing it.
 

Hillbilly

Moderator
Jan 1, 2002
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If there was a way to make money doing this simple transaction, don't you think that many, many people would be doing it by now??

Definately not a good idea; perhaps you can get into the exchange market. Buy pesos and dollars...?????????

HB:(
 

Tamborista

hasta la tambora
Apr 4, 2005
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You do realize, assuming you found liquidity, the spread is usually a full RD peso which = 3.125%. So you really better find the other side of the trade first! (HINT, receiveables)