Peso Strategy

Cleef

Bronze
Feb 24, 2002
1,797
6
0
I need to buy a chunk of pesos soon.

Does anyone have any strong feelings/projections for the recent rise, and what will happen in the next 7-10 days?

I'm not looking for a long winded, politically slanted diatribe. Just a vanilla projection, and why. As in, "buy now", or "wait til the last minute".

Thanks for your help.
 
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Adrian Bye

Bronze
Jul 7, 2002
2,077
134
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Someone made the comment that the rate trends up through the week until Fridays, then drops again on Mondays.

Its usually just best to take a good rate when it presents itself!
 

andy a

Bronze
Feb 23, 2002
532
0
0
I've not looked for patterns for particular days of the week.

The peso is near the middle of a value/trading range that several posters, including me, predicted some time ago. Since I've not heard of any particular peso support/intervention package underway right now (IMF, or whoever), I see no reason to expect a violent reaction now.

Whatever your time frame, take your position in thirds.
 

Criss Colon

Platinum
Jan 2, 2002
21,843
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yahoomail.com
Today in Santo Domingo it is 36 to 1.Yesterday it was 36.5 to 1.

I was hoping for 37 to 1 this week,to change $1000 US.I have been seeing a rise during the week up to Friday,but I guess if this were a "science" we could all be rich!Cris colon

Cliff,define "soon"????????????????????
 

andy a

Bronze
Feb 23, 2002
532
0
0
Criss, it IS a science.

Not everything is knowable.

Because of intervention, the rate was around 30 not long ago (and could even go back there, unlikely though it be). Anyone who nickpicks about half a peso and loses 5 or 6 is not acting scientifically.

Those who would intervene don't typically announce their REAL intentions - they could do it again at any time, and certainly without warning, even though it's unlikely without first trying to "jawbone down" the rate for free.
 
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ERICKXSON

Bronze
Dec 24, 2002
1,222
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www.creambay.com
Get Ready for the big slide

By February or sooner than that the Peso will be around $50.00 Per $1.00 USD, This Governement will keep stealing until their last day in office.

I'm Not A cell Phone i just sell them!
 

Cleef

Bronze
Feb 24, 2002
1,797
6
0
Soon is..

7-10 days, 2 weeks.

My hunch is that when December rolls around and people are collecting two checks, the rate will be topping out with more pesos on the street.

But, as someone pointed out, the current administration is certainly looking for it?s next big score before they get sent packing. So perhaps the exchange rate is the most viable option for them; 50 to 1 is not hard to believe.

Should be a pretty bleak Christmas unless daddy steals really good this year.
 

GringoCArlos

Retired Ussername
Jan 9, 2002
1,416
40
0
The tasa typically also dips at the beginning of the month, whether from all of those Social Security funds arriving to get changed into pesos, or money getting sent down from the month-end paychecks of the kids in NY, or whatever.

My bet is your chance at the best rate would be tomorrow or on Friday in the morning.

Suerte!