Bank CD rates.......

Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
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nyc dad said:
Well,as long as you get 18% on it I believe is pretty good,you are gonna be spending pesos anyways correct? I'm very aware of the fluctuation factor,you don't have to be a rocket scientist to throw that into the equation tamborista.In the U.S, accounts are protected up to 125000-250000$ U.S.what about in the DR? thanks for the responses.
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Rocket scientist...wtf??? I strongly suggest you Google Baninter for a wake up call, oh... a few I almost forgot the RD Peso ran from 18 to 60 during Hipo's last term. Then again interest rates were 30%! No such thing as FDIC or SIPC in this country.

Happy investing.
 
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nyc dad

Bronze
Jul 28, 2011
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Tamborista said:
Rocket scientist...wtf??? I strongly suggest you Google Baninter for a wake up call, oh... a few I almost forgot the RD Peso ran from 18 to 60 during Hipo's last term. Then again interest rates were 30%! No such thing as FDIC or SIPC in this country.

Happy investing.
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Tamborista,don't take it like that,because I didn't mean it the way you took it.It came out the wrong way,and I apologize for that.What I meant to say is that Im aware that whenever there is money exchange when opening a bank account,future fluctuation is part of that too.I lived in Venezuela for a while and yet another factors is added,the black market exchange rate.I didn't take your comment the wrong way nor I intended to sound sarcastic,and also know that it was on my best interest(your reply)
 
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belmont

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Oct 9, 2009
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Tamborista said:
Rocket scientist...wtf??? I strongly suggest you Google Baninter for a wake up call, oh... a few I almost forgot the RD Peso ran from 18 to 60 during Hipo's last term. Then again interest rates were 30%! No such thing as FDIC or SIPC in this country.

Happy investing.
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just to clarify, that is exchange rate of pesos to 1 dollar. When we were getting 60 pesos/dollar it didn't help those with dollars to spend. It became evident that the DR really is a dollarized economy. As the peso devalued, prices in pesos changed to reflect it. But your cost was still the same amount of dollars. An RD$ 5000/month apt. became 16,000/month. People that were selling still wanted the same amount of dollars even though they were dealing in pesos.
 
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nyc dad

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Jul 28, 2011
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Iand as far as baniter,I'm aware of the whole bank melt down,have read the article a few times.When I was there back in June this year,I spoke to a customer service rep at banco popular at the megacentro.I was told when I asked that the money was 100% protected(the entire balance)This did not make any sense to me,when not even in the states the entire balance is protected
 
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belmont

Bronze
Oct 9, 2009
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nyc dad said:
Iand as far as baniter,I'm aware of the whole bank melt down,have read the article a few times.When I was there back in June this year,I spoke to a customer service rep at banco popular at the megacentro.I was told when I asked that the money was 100% protected(the entire balance)This did not make any sense to me,when not even in the states the entire balance is protected
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"Full Faith and Credit of the Dominican Republic"......for what that is worth.
 
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nyc dad

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Jul 28, 2011
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Well,then,is it safe to say that it is only sound to invest the amount that's gonna give you back just to cover your monthly expenses?
 
Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
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nyc dad said:
Well,then,is it safe to say that it is only sound to invest the amount that's gonna give you back just to cover your monthly expenses?
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I personally would not feel safe tieing up $US200,000 in RD Pesos to produce $3,000/month income, unless you had another $800,000 elsewhere, risk is a subjective thing and varies from person to person.
 
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nyc dad

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Jul 28, 2011
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Well,real estate doesn't seem like on option.Correct me if I'm wrong,but based on supercasas.com(what i seen so far)I highly doubt that a 100.000 $ U.S would produce 1000$U.S monthly....with that,is there any safe investment option in D.R? I was looking at some commercial space on bella vista mall(new?)50 square meters for four millions pesos and change.Even that,how much can you really get a month to get it back,then profit from it....?
 
Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
11,747
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nyc dad said:
Well,real estate doesn't seem like on option.Correct me if I'm wrong,but based on supercasas.com(what i seen so far)I highly doubt that a 100.000 $ U.S would produce 1000$U.S monthly....with that,is there any safe investment option in D.R? I was looking at some commercial space on bella vista mall(new?)50 square meters for four millions pesos and change.Even that,how much can you really get a month to get it back,then profit from it....?
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Open a sport's bar with ice cold beer and smoking hot chicas "on the menu" if you want to make money, just do your research about who to pay off and you will need a trustworthy local frontman.
 
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nyc dad

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Jul 28, 2011
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That seems like a simple transaction and one man operation...lol,I guess "sports bar"in DR really means ballu?lmao
 
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Criss Colon

Platinum
Jan 2, 2002
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yahoomail.com
Want To Leave The DR With A Million Dollars?????

Bring Two!!!


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As far as I am Concerned,to live the ideal life in theDR,
Bring enough money to buy the house you want to live in.
Bring enough money to buy a vehicle no more than 5 years old.
Have a guarented income from outside the DR to live the way you want to live.

Don't have any business deaings with Dominicans,OR foreigners!
Enjoy the weather,food,music,people and laid back life style.
If you have enough money,the DR is a great place to live.

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nyc dad

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Jul 28, 2011
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in that case

I was wondering,how does the credit works in the DR? Here we have a experian,equifax and the rest,but how do they determine whether to let you borrow money or not?
 
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windeguy

Platinum
Jul 10, 2004
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Tamborista said:
I personally would not feel safe tieing up $US200,000 in RD Pesos to produce $3,000/month income, unless you had another $800,000 elsewhere, risk is a subjective thing and varies from person to person.
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I agree with Tambo's perspective on this. Do not every "put all of your eggs in one basket", let alone the very volatile basket of DR currency and interest rates.
 
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nyc dad

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Jul 28, 2011
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not to push the issue

windeguy said:
I agree with Tambo's perspective on this. Do not every "put all of your eggs in one basket", let alone the very volatile basket of DR currency and interest rates.
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But c'mon,not even invest to cover your basics?not even profit,just break even?
 
Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
11,747
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nyc dad said:
But c'mon,not even invest to cover your basics?not even profit,just break even?
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You just do not get it do you....sorry.

It is not investing, it is speculation, you are better off trading gold futures, or EURUSD.

tambo'
 
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El commandante

New member
Oct 17, 2004
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live well

With 200,000 u.s. you can live very well overhere, don't let anyone tell you different. assuming you own your own place.
 
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