Peso is now at RD$53 to US$1

[Dolores]

A report in El Caribe reveals that the Dominican peso in these inflation-ridden times has appreciated against the US dollar. On Friday, 19 August 2022, operations in the spot market fell to the RD$53 per dollar mark.

The peso is appreciating because of a significant increase in inflows of hard currency. According to market sources, foreign capital inflows to the country have increased lately, mainly from South America. South America is affected by uncertainty due to changes in South American governments. The Dominican Republic has since the 2020 pandemic benefited from increased inflows of remittances from the diaspora, foreign direct investment flows, tourism and free trade zone receipts, in addition to the export receipts.

A 19 August 2022 memorandum from the director of the International Department of the Central Bank states that the rates for the purchase and sale of...

Continue reading...

 

[Yourmaninvegas]

"A report in El Caribe reveals that the Dominican peso in these inflation-ridden times has appreciated against the US dollar. On Friday, 19 August 2022, operations in the spot market fell to the RD$53 per dollar mark."

Hate to say I told you so.
But in this case I cannot resist.
You know who I am talking to out there.
🤑 💵📉
😂

 

[Duece]

IN POP just got $52.80

 

[playacaribe2]

Continue reading...

That the peso appreciating is highly unusual, more unusual is one of the causes being cited;

From the article:

"The peso is appreciating because of a significant increase in inflows of hard currency. According to market sources, foreign capital inflows to the country have increased lately, mainly from South America. South America is affected by uncertainty due to changes in South American governments."

If you look at geo-politics, many of the SA governments have recently made turns back to the left. Bolivia, Ecuadaor, Nicaragua, Chile, Peru and more recently Colombia have all installed leftist governments.

While there is no way to know whether that turn will hurt or help, it appears the smart money is leaving those countries for safer havens (capital flight)...........one of those being the DR.

The peso has notably appreciated twice since 1987. The first was during the Baninter banking crisis and the subsequent bailout by the IMF and the second is occurring now.

How long it lasts remains strong is to be seen. What that catalyst will be to disrupt it is unknown. Certainly the government does not want the peso to appreciate too much as that would negatively impact tourism. It certainly has lasted longer than I thought it would.

A trend in motion tends to stay in motion until disrupted.


Respectfully,
Playacaribe2

 

[Father Guido]

it could be worse, you could be exchanging euros

 

[JD Jones]

Ka-Ching!!

 

[Lou2100]

it could be worse, you could be exchanging euros

What try Canadian dollars and see how worse it can get

 

[Yourmaninvegas]

“The whole reason that our capitalist system works the way it does is because there are cycles, and the cycles self-correct.”
-Seth Klarman

I remember mentioning quite clearly (in a DR1 thread that was closed down) before the decline of the USD against the peso that no market always moves in one direction.

I did not need any fancy analysis to tell me that when the peso was near historical highs at 58...that was a good time to make big purchases because it was not going keep going up forever. I acted and my investments are locked in. I wonder if the people that took my USD with the deals locked in at 58 are feeling like I got over one them now the peso is at 53. Only if they did not use all their dollars to buy pesos. 🤑 💸

 

[Luperon]

Wait till the world currency is no longer the dollar. One cant address the reasons on social media or risk the repercussions of truth.

 

[Yourmaninvegas]

Wait till the world currency is no longer the dollar. One cant address the reasons on social media or risk the repercussions of truth.

Good reason to buy the right crypto.

 

[Lou2100]

Good reason to buy the right crypto.

HAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
Okay warren buffet , which is the right one

 

[Yourmaninvegas]

HAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
Okay warren buffet , which is the right one

Warren Buffet would tell you the same thing I am going to...by finding the one that has the most value.
Just like I do with stocks and real estate.
And I have done just fine in both of those arenas.
By the way, do you live in the 🇩🇴 on the investments you have made in the past...because I do.
🤑😂

 

[Lou2100]

Warren Buffet would tell you the same thing I am going to...by finding the one that has the most value.
Just like I do with stocks and real estate.
And I have done just fine in both of those arenas.
By the way, do you live in the 🇩🇴 on the investments you have made in the past...because I do.
🤑😂

HAHAHAHA.
You have nothing to prove to me. but felt you did.
Warren Buffet ain't telling Me or You a single thing, unless you bid on a lunch with him.
I suppose I am to be impressed that you are living in the 🇩🇴 off of past investments.
I am not.

"Money can't buy LIFE
Money can't buy Health
Money can't buy Respect
You have to know real Wealth"

 

[Yourmaninvegas]

HAHAHAHA.
You have nothing to prove to me. but felt you did.

Incorrect interpretation of my post on your part. My post was written with tongue placed firmly in cheek.

Warren Buffet ain't telling Me or You a single thing, unless you bid on a lunch with him.

Well that is confusion on your part as you are the one that referred to me a Warren Buffet. I am actually Yourmaninvegas.

I suppose I am to be impressed that you are living in the 🇩🇴 off of past investments.
I am not.

No, I am the one that is impressed by that.
And it is a good life too.
You live how you want where you want brother. If you like it I love it.

"Money can't buy LIFE
Money can't buy Health
Money can't buy Respect
You have to know real Wealth"

"Money cannot buy happiness. But it can buy you a big boat that lets you cruse up and get a really good look at it"
😂

I have my LIFE
I have my Health (relatively speaking)
I have my respect (I give it to myself)
I have my love (I love myself)
Every morning I wake up if feel wealthy in my own mind
And since I don't have to goto work in order pay for the lifestyle I have become accustomed to I feel fortunate.

You want advice on investing in specific crypto?
I will give it to you for free.
Hit me in a private message.
But remember, my advice might only be worth what you pay for it.


Do you have anything to offer on the USD/DOP currency market?
Here is mine...the peso will go down and the peso will go up.
Even @playacaribe2 can admit that no trend goes on forever.

 

[Lou2100]

Incorrect interpretation of my post on your part. My post was written with tongue placed firmly in cheek.

Well that is confusion on your part as you are the one that referred to me a Warren Buffet. I am actually Yourmaninvegas.

No, I am the one that is impressed by that.
And it is a good life too.
You live how you want where you want brother. If you like it I love it.

"Money cannot buy happiness. But it can buy you a big boat that lets you cruse up and get a really good look at it"
😂

I have my LIFE
I have my Health (relatively speaking)
I have my respect (I give it to myself)
I have my love (I love myself)
Every morning I wake up if feel wealthy in my own mind
And since I don't have to goto work in order pay for the lifestyle I have become accustomed to I feel fortunate.

You want advice on investing in specific crypto?
I will give it to you for free.
Hit me in a private message.
But remember, my advice might only be worth what you pay for it.


Do you have anything to offer on the USD/DOP currency market?
Here is mine...the peso will go down and the peso will go up.
Even @playacaribe2 can admit that no trend goes on forever.

Still over reaching to prove.......Try twitter , Instagram or TIKTOK. Or better yet why not go cruse, instead of speaking of what you got.
Enjoy and Live your life .
The lifestyle you speak of , can't be that great.
Like the short man in an Escalade.
compensate on what one lacks.
On that note , have a good day , let me go back to focusing on "work" , while hanging in my hammock.
Work Life is rough.

 

[Yourmaninvegas]

On that note , have a good day , let me go back to focusing on "work" , while hanging in my hammock.
Work Life is rough.

Hey man, enjoy your work‼️
I know I do.
Well...what little I do actually of it.
I got people for that now. 🤑

FYI the USD/DOP exchange rate is one of the reasons my life is so great.
But it sounds like yours is too.
DOP goes up and the DOP goes down.
But the DOP in the 🇩🇴 is the reason my life is so great now.
No compensation needed.

And this is a public forum.
I post for everyone.
Not just individuals.

Feel free to let us know your opinion on the USD/DOP exchange rate.
That is after all the subject of this thread.

 

[Tonchi]

One of the huge drivers of this is inflation...
There is a 3:1 difference in the inflation between here and the US, so expect the "trend" top continue.

This trend is definitely not our friend..

FYI, Banco Santa Cruz offers a better rate when changing large amounts if you are an account holder..
either dollars or pesos

 

[william webster]

Always negotiable for larger amounts..... not large by VegasMan's standards -- but the common man

hahaha

 

[Yourmaninvegas]

FYI, Banco Santa Cruz offers a better rate when changing large amounts if you are an account holder..
either dollars or pesos

Any bank will do that for you if you get to know the manager at your branch that handles the tellers. Ask if they will call the trading desk at headquarters to get you a better rate. There is an minimum about at which they will do it.

Always negotiable for larger amounts..... not large by VegasMan's standards -- but the common man

hahaha

It actually has nothing to do with my standards.
The bank you use sets them.
🤑

 

[johne]

ExPats crying the blues over a drop over of a few pennies makes me laugh. Didn't they get the last raise from their social security check? Is the difference of 57 DOP to 53 going to change your life? Probably not. Can it change the life of the Dominican living in near poverty? Probably yes. Have y'all given this subject some serious thought? Look, there are brighter days ahead . Will the DOP go up and down again? Definitely YES.