Historical Exchange Rates per U.S. Government

[Caonabo]

@rubio_higuey and @DR Solar do you guys buy pesos.? I Like @rubio_higuey thinking. I am thinking of buying pesos some also around 57 and more a little higher. I wish to buy some RE in DR and if the dollar drops big I would like to have the pesos ready. If the dollar doesn’t drop then my loss will be the difference in the purchase and resale. BUT, if the USD drops my gain can be large and worth the small loss risk. In beginning 2004 my family took advantage of this big USD rise before the drop.
..If there is a drop now how long will it last?
... What do the DR economists thinking will happen?
Why don’t you @DR Solar think it will drop?
Thanks

It is your money. Your life. Your future.
I do not think this would be a keen decision.
All in all, your call.

 

[irsav]

With exchange rate 1 to 65 it will be much easier to live here for all the expats.

 

[El Rey de Mangu]

With exchange rate 1 to 65 it will be much easier to live here for all the expats.

It's like Scholes himself is speaking this to you.

 

[playacaribe2]

With exchange rate 1 to 65 it will be much easier to live here for all the expats.

Any advantage will be short lived as items priced in pesos will rise to reflect its depreciation. Some of us experienced the Baninter banking crisis and can tell you an orderly decline of the peso over time is much more preferred than the seemingly daily price increases during the banking crisis.


Respectfully,
Playacaribe2

 

[johne]

@rubio_higuey and @DR Solar do you guys buy pesos.? I Like @rubio_higuey thinking. I am thinking of buying pesos some also around 57 and more a little higher. I wish to buy some RE in DR and if the dollar drops big I would like to have the pesos ready. If the dollar doesn’t drop then my loss will be the difference in the purchase and resale. BUT, if the USD drops my gain can be large and worth the small loss risk. In beginning 2004 my family took advantage of this big USD rise before the drop.
..If there is a drop now how long will it last?
... What do the DR economists thinking will happen?
Why don’t you @DR Solar think it will drop?
Thanks

So, you are assuming for the moment that the seller will accept pesos. What if. . . he says ( for whatever reason he cares to, since he owns the property) he wants to be paid in greenbacks. In other words, seller believes in dollars not in his county's peso.

 

[johne]

Any advantage will be short lived as items priced in pesos will rise to reflect its depreciation. Some of us experienced the Baninter banking crisis and can tell you an orderly decline of the peso over time is much more preferred than the seemingly daily price increases during the banking crisis.


Respectfully,
Playacaribe2

Exactly. My rent to a management company for condo owners was original quoted in dollars. So, a few weeks ago I thought I would be a wise guy and asked about getting a reduction in the base rate and pay in pesos. They didn't lose a beat and answered "Your rent is quoted in dollars. ".

 

[Caonabo]

Exactly. My rent to a management company for condo owners was original quoted in dollars. So, a few weeks ago I thought I would be a wise guy and asked about getting a reduction in the base rate and pay in pesos. They didn't lose a beat and answered "Your rent is quoted in dollars. ".

This is the oldest scam going within this nation. Unfortunately, it's usually involved with expatriates upon other expatriates, not that Dominicans do not play it as well as an art form.
If quoted a price in foreign currency, you tell them that the DOP is the national currency. You will only pay a fixed rate DOP, or you will walk away from the table. Always control the negotiation, don't be controlled.

 

[johne]

This is the oldest scam going within this nation. Unfortunately, it's usually involved with expatriates upon other expatriates, not that Dominicans do not play it as well as an art form.
If quoted a price in foreign currency, you tell them that the DOP is the national currency. You will only pay a fixed rate DOP, or you will walk away from the table. Always control the negotiation, don't be controlled.

I agree only if you really don't want the deal or there is something better out there. OP theory I believe is flawed. OP is trying to get ahead of the curve in that he needs to buy DOP high, the DOP drops like a stone, and that he has identified a property he wants, that the seller is desperate, buyer is willing to buy as the peso tanks , and, and, and. Too many moving parts in my opinion to net a killer deal.

 

[Caonabo]

I agree only if you really don't want the deal or there is something better out there. OP theory I believe is flawed. OP is trying to get ahead of the curve in that he needs to buy DOP high, the DOP drops like a stone, and that he has identified a property he wants, that the seller is desperate, buyer is willing to buy as the peso tanks , and, and, and. Too many moving parts in my opinion to net a killer deal.

Too many moving parts indeed. Just like a helicopter. I sold that toy after Vichai Srivaddhanaprabha's passing. I prefer stability, and life.

 

[playacaribe2]

So the DR has borrowed 650 million from the IMF, 150 million from the World Bank, and now the announcement the government issued bonds internally (likely because of no current external demand) bought by government pension funds;

Dominican Republic issues US$727.3M of debt

<p>Santo Domingo.- The Finance Ministry on Monday announced a special issue of internal debt of RD$40 billion (US$727.3 million) to deal with the pandemic. The bonds were purchased by four pension fund managers, Finance said in a statement. The securities, called COVID-19 economic stimulus...

dominicantoday.com

Translated to mean.....the peso will continue its accelerated decline against the dollar.


Respectfully,
Playacaribe2

 

[cavok]

The best that the government can hope for is that the rate of decline of the peso slows down. This is an entirely different situation than what happened in 2004.

 

[playacaribe2]

The best that the government can hope for is that the rate of decline of the peso slows down. This is an entirely different situation than what happened in 2004.

The peso is now on a projected trajectory decline of 10 pesos for the year.......meaning at the current pace of devaluation, the peso could be at 63:1 at the cambio's
by year end.

Respectfully,
Playacaribe2

 

[Wishing you well]

This is the oldest scam going within this nation. Unfortunately, it's usually involved with expatriates upon other expatriates, not that Dominicans do not play it as well as an art form.
If quoted a price in foreign currency, you tell them that the DOP is the national currency. You will only pay a fixed rate DOP, or you will walk away from the table. Always control the negotiation, don't be controlled.

The answer described an individual perfectly ostracized from the Dominican reality by chance.

 

[Wishing you well]

The peso is now on a projected trajectory decline of 10 pesos for the year.......meaning at the current pace of devaluation, the peso could be at 63:1 at the cambio's
by year end.

Respectfully,
Playacaribe2

Please post the source of you privileged information, I've yet to own a crystal ball.

TYIA!

 

[playacaribe2]

Please post the source of you privileged information, I've yet to own a crystal ball.

TYIA!

USD DOP Chart - Investing.com

Get instant access to a free live streaming USD DOP chart. This unique US Dollar Dominican Peso chart enables you to clearly notice the behavior of this pair.

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Your Welcome.

Respectfully,
Playacaribe2

 

[MikeFisher]

looking back on the caribe express rising exchange rates,
which are fine as the same trend at other exchange sources, doesn't matter who has the "best"one,
we have 0.50.- pesos rise per dollar per week.
Now That is something SCARY.
calculate the loss of purchase power for a DR worker, paid a fix salary in DR Pesos,
just for the last few months.
and theer wasn't any raise on the minimum wages during this time frame, not that i wold have been aware of.

 

[RDKNIGHT]

Keep your money in dollars for now.... I think 65 will be a good point to start gathering peso .... but follow the world new on currency.

Captain trump wants a strong Dollar around the world if he get relected again it will go higher than 65....

Remember folks his cabinet is filled with people who work on wall st..

 

[cavok]

looking back on the caribe express rising exchange rates,
which are fine as the same trend at other exchange sources, doesn't matter who has the "best"one,
we have 0.50.- pesos rise per dollar per week.
Now That is something SCARY.
calculate the loss of purchase power for a DR worker, paid a fix salary in DR Pesos,
just for the last few months.
and theer wasn't any raise on the minimum wages during this time frame, not that i wold have been aware of.

If you look at the ""Today's US Exchange Rate" thread, you'll see the peso went up from 57 to 58 in just one week - at least at CaribeExpress in Cabarete.

 

[DR Solar]

Look on other exchange sights and the rate is down.

 

[cavok]

Look on other exchange sights and the rate is down.

For example..........?