If the Federal Reserve was part of the US-Federal Gvt., wouldn't they have 'United States' in their title rather than just 'The Federal Reserve'? The Treasury Department is the United States Treasury. The first two central banks of the United States were entitled 'The Bank of the United States'-so those were all directly associated with the U.S. Gvt.
- Thread starter jimmythegreek
- Start date
It Seems Like The Peso Domincano
If the Federal Reserve was part of the US-Federal Gvt., wouldn't they have 'United States' in their title rather than just 'The Federal Reserve'? The Treasury Department is the United States Treasury. The first two central banks of the United States were entitled 'The Bank of the United States'-so those were all directly associated with the U.S. Gvt.
4% seems about right for the past 10 years. However, using Banco Central's official exchange rate, the peso was 47.6 on Sept. 19th 2017 and 49.15 today.
That works out to be 6.5% annualized over the past 6 months which is why I said it is devaluating faster recently than normal. Nothing says it will continue at that rate though.
That works out to be 6.5% annualized over the past 6 months which is why I said it is devaluating faster recently than normal. Nothing says it will continue at that rate though.
Some folks were lucky enough to get CD's at 52% just before the exchange rate dropped to 33. *ahem*
Indeed they did. They only wished they had bought a lot more CD's but were really apprehensive about investing.
Interesting, thanks. We normally just have pesos deposited directly into my BIL’s account. We never tried delivery but it’s a good option to have.
And rightfully so.....as the DR economy stared into the abyss...those that were willing to risk....reaped the reward. But it could very well have gone the other way.....which is what kept many from making one big bet, win or lose.
Everyone has a different risk/reward ratio.
Respectfully,
Playacaribe2
The Federal Reserve FOMC has just announced a .25% hike in the feds funds rate, and barring black swan exogenous events, they expect further rate hikes in 2018 (2-3) and the same for 2019.
This will likely cause the DOP to further weaken against the USD.
Good news for those holding dollars and not so good news for those holding pesos.
Respectfully,
Playacaribe2
This will likely cause the DOP to further weaken against the USD.
Good news for those holding dollars and not so good news for those holding pesos.
Respectfully,
Playacaribe2
It was about a month ago. My immigration attorney was talking about it, but i wasn't paying close attention because I was just trying to find out why my permanent residency is taking so long.
I have not checked it out personally, but I do have a Ban Reservas account I seldom use. If it is 5% in dollars that is good (if you think it is safe). I got that rate for a few years in Puerto Rico (but those banks were FDIC insured - even though one of them failed after i got my money out)
I did check on the BanReservas web site but they don't post the CD rate but you could call or e-mail them
809 960 2121
809 200 2131
contacto@banreservas.com
I have not checked it out personally, but I do have a Ban Reservas account I seldom use. If it is 5% in dollars that is good (if you think it is safe). I got that rate for a few years in Puerto Rico (but those banks were FDIC insured - even though one of them failed after i got my money out)
I did check on the BanReservas web site but they don't post the CD rate but you could call or e-mail them
809 960 2121
809 200 2131
contacto@banreservas.com
Exactly, if it is safe. I think we are heading into some very rough waters this year.
I can't speak to that but if I was to put enough in to a CD to make it worth my time I would be worried.
In Puerto Rico one of my banks Doral Bank went under with only a hint of problems for a few months before they folded, but before they failed I have shifted my deposits back to the US.
I'm the last one you should accept investment advice from unless you want a guaranteed loser.
Believe me-I went through Baninter-I know all about not keeping your cash in the banks here.
15% of the depositors owned 85% of the deposits in Baninter. Some heavy hitters used their power and influence to get the government in conunction with loans from the IMF to cover those uninsured losses.
I still remember Sammy Sosa arriving with a bevy of lawyers from the US after the government closed the bank. He was rumored to have several million dollars on deposit there......and he even did their commercials....."Solid like Sammy Sosa" or something to that effect.
Respectfully,
Playacaribe2
It's hard to see that a USD CD with a 5% annual yield is possible, when $RD CD's yield at best around 6%.
I believe that I saw the advertisement while in a branch two months ago. However, I recall that the CD was for a few years. When you add that to the minimum amount required, I did not look twice.