Exchange rate changes during Christmas/New Year - 8% more for my EUR than 2 weeks ago

[HDR]

I noticed that I got about 8% more for my EUR than 2 weeks ago. It usually happens this time of year. The effect of money transfers from Dominicans abroad or something else? Longer trend? Thoughts?

 

[playacaribe2]

I noticed that I got about 8% more for my EUR than 2 weeks ago. It usually happens this time of year. The effect of money transfers from Dominicans abroad or something else? Longer trend? Thoughts?

For many years, the trend during the holidays was that the peso strengthened due to the flood of Xmas remittances from abroad.

That seems to have changed.......................and more interesting, at least to my clients, is the buy/sell spread for both Dollars and Euros has not been this wide for many years. Normally the spread hovers in the 1-1.5 peso difference. Right now it is closer to 2-2.5. While that might not seem a wide spread to most, when your clients are regularly changing large amounts........it adds up quickly.

Respectfully,
Playacaribe2

 

[HDR]

For many years, the trend during the holidays was that the peso strengthened due to the flood of Xmas remittances from abroad.

That seems to have changed.......................and more interesting, at least to my clients, is the buy/sell spread for both Dollars and Euros has not been this wide for many years. Normally the spread hovers in the 1-1.5 peso difference. Right now it is closer to 2-2.5. While that might not seem a wide spread to most, when your clients are regularly changing large amounts........it adds up quickly.

Respectfully,
Playacaribe2

Very true, my message was unclear. But yes it is fluctuating this time of year, this time Peso down.... EUR/USD... 10% different on the world market, but yes USD is the currency to have here. Then the EUR has strengthened significantly the last 3 month vs USD, 5% or so I think

 

[malko]

63.8 pesos for 1 € on my latest card payments a few days ago. No complaining here.
Especially since I do CHF to € to pesos.😁😁

 

[XQT]

Very true, my message was unclear. But yes it is fluctuating this time of year, this time Peso down.... EUR/USD... 10% different on the world market, but yes USD is the currency to have here. Then the EUR has strengthened significantly the last 3 month vs USD, 5% or so I think

Euro to Dominican Peso Exchange Rate Chart | Xe

EUR to DOP currency chart. XE’s free live currency conversion chart for Euro to Dominican Peso allows you to pair exchange rate history for up to 10 years.

www.xe.com

US Dollar to Dominican Peso Exchange Rate Chart | Xe

USD to DOP currency chart. XE’s free live currency conversion chart for US Dollar to Dominican Peso allows you to pair exchange rate history for up to 10 years.

www.xe.com

Would you rather earn 10,000 € a month or 10,000 USD ?

 

[cavok]

I'd rather earn 10,000 BTC a month than 10,000 USD.

 

[XQT]

I'd rather earn 10,000 BTC a month than 10,000 USD.

Ándale

 

[XQT]

I'd rather earn 10,000 BTC a month than 10,000 USD

So far you are free to bust your moves.
If governments restrict crypto currencies and what the regulations may be , remains to be seen.
Some people indeed made money.

I'm a simple minded person and see crypto as,
Criminal activities, money laundering and tax evasion.

Here are the biggest crypto stories of 2023

In 2023, crypto industry onlookers were shocked by high-profile arrests and Sam Bankman-Fried’s trial but also given hope by a flurry of spot Bitcoin ETF applications and rebounding prices.

fortune.com

Not up on crypto to DOP exchange rates.

 

[HDR]

I'd rather earn 10,000 BTC a month than 10,000 USD.

Euro to Dominican Peso Exchange Rate Chart | Xe

EUR to DOP currency chart. XE’s free live currency conversion chart for Euro to Dominican Peso allows you to pair exchange rate history for up to 10 years.

www.xe.com

US Dollar to Dominican Peso Exchange Rate Chart | Xe

USD to DOP currency chart. XE’s free live currency conversion chart for US Dollar to Dominican Peso allows you to pair exchange rate history for up to 10 years.

www.xe.com

Would you rather earn 10,000 € a month or 10,000 USD ?

ATM and this month for sure EUR! More money!! And probably short term EUR. Long term, USD/GBP and some BTC. Not at all bullish on EU economy. My answer was only made for the question why the EUR/Peso USD/Peso has changed lately. Then the world has changed so much lately and that will probably continue so who knows

This answer was for XQT...

 

[cavok]

So far you are free to bust your moves.
If governments restrict crypto currencies and what the regulations may be , remains to be seen.
Some people indeed made money.

I'm a simple minded person and see crypto as,
Criminal activities, money laundering and tax evasion.

Here are the biggest crypto stories of 2023

In 2023, crypto industry onlookers were shocked by high-profile arrests and Sam Bankman-Fried’s trial but also given hope by a flurry of spot Bitcoin ETF applications and rebounding prices.

fortune.com

Not up on crypto to DOP exchange rates.

I don't own any BTC. Pretty easy to calculate the exchange rate. Multiply the number of USD you get for one BTC by 57;75, less exchange fees. They've been saying for a long time that someday BTC will be restricted.

 

[cavok]

ATM and this month for sure EUR! More money!! And probably short term EUR. Long term, USD/GBP and some BTC. Not at all bullish on EU economy. My answer was only made for the question why the EUR/Peso USD/Peso has changed lately. Then the world has changed so much lately and that will probably continue so who knows

This answer was for XQT...

The USD/DOP has been going up, but not 10% in the last two weeks. It hasn't gone up 10% in the whole last year. The only thing I can think of is that the government has been stiffing the Europeans(?) Right now the Euro is worth about 10% more than the USD and you're getting about 10% more pesos for a Euro than a USD.