Usd/dop

Jan 9, 2004
9,696
912
113
Has anyone actually exchanged dollars this morning?

The US Federal Reserve hiked rates a 1/4 point yesterday and the reaction this morning has been a decline in value for the majors like the Euro/Yen/Pound.

Emerging market currencies are also being affected, i.e., Mexican peso.

A bump in the dollar should take hold either today or tomorrow as the Banco Central may likely be forced to react.

Just to clarify, I am not expecting a major move, but a soft weakening of the DOP in the next day or two.


Respectfully,
Playacaribe2*
 

cavok

Silver
Jun 16, 2014
6,049
1,418
113
Banco Central remains unchanged today at 46.6 to the USD. Yesterday at CaribeExpress in Sosua the rate was 46.45/USD.
 
Jan 9, 2004
9,696
912
113
Based on the currency markets reaction to the hike so far this morning, it appears the peso could shortly bump to at/near 47.

Not enough to hold off purchases for the average person, but when a company is going to convert a large sum into DOP....it can make a difference.

Respectfully,
Playacaribe*
 

cavok

Silver
Jun 16, 2014
6,049
1,418
113
I hear a lot of talk about a shortage of USD. That should push the exchange rate higher, too.
 

william webster

Platinum
Jan 16, 2009
26,698
2,178
113
No, don't think so.

Oftentimes, the banks are low on hard currency.
Especially this time of year.
You need to order it.
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
Dop/usd is currently being forced below 47, probably somewhere in January or February they will let the rate slip. The actual result of the rate being controlled / forced is that there are hardly any dollars to get (I don't mean someone trying to get 2000 usd but importers trying to get 100,000+.*

Personally it has cost me usd1300 in comission reductions only this month for customers not being able to pay their bills in a reasonable timeframe.

The reason behind all this is the government having made the budget of 2016 with a certain exchange rate and if the real rate gets too high the budget will be surpassed even more than it has already.
 
Jan 9, 2004
9,696
912
113
Dop/usd is currently being forced below 47, probably somewhere in January or February they will let the rate slip. The actual result of the rate being controlled / forced is that there are hardly any dollars to get (I don't mean someone trying to get 2000 usd but importers trying to get 100,000+.*

Personally it has cost me usd1300 in comission reductions only this month for customers not being able to pay their bills in a reasonable timeframe.

The reason behind all this is the government having made the budget of 2016 with a certain exchange rate and if the real rate gets too high the budget will be surpassed even more than it has already.



I understand your plight as my clients are waiting to wire a substantial amount of usd with an eye toward a more favorable bump in the rate.

Note that the budget for 2016 was calculated, some would say manipulated, using 47.21/1 dop/usd rate. So they do have room to ease.....as other currencies around the world have done today.

Respectfully,
Playacaribe2
 

DR Solar

Sin bin
Nov 21, 2016
1,511
312
83
I'm really NOT concerned about a .25% interest rate hike in the U.S.... if that is what it was. Everyone around the World knew that it was coming and panicked for a year. It was baked into economies long ago. Stock markets dropped almost a year ago (I bought) and are at ridicules highs (I've been selling) while gold now looks almost attractive due to that sell off going into stocks. Sorry, but I don't get it.


We needed Christmas money so called our trusted money man that charges just a bit more then the banks for exchange but no waiting or bank charges or any bank BS so really works out that we save by not using a bank. He was short Pesos. A couple of hours later he delivered to our home taking our personal check as usual with no problem; as usual.

Some years ago the peso hit above 55 and lots of people changed U.S. for pesos. Within 2 months the peso dropped to 40. So when you worry about the peso moving up .05 I really have to advise that life is to short to worry about it. Moving large amounts? You should have had a better plan.... the U.S. rate hike has only been in the financial top news for 1 YEAR.
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
I understand your plight as my clients are waiting to wire a substantial amount of usd with an eye toward a more favorable bump in the rate.

Note that the budget for 2016 was calculated, some would say manipulated, using 47.21/1 dop/usd rate. So they do have room to ease.....as other currencies around the world have done today.

Respectfully,
Playacaribe2



Correct, but even budgetting with a higher rate but than highly overspending (elections...) it pays off to suppress the exchange rate, if you ignore the damage it does to the economy. Funny also how the budget of 2017 is made based on an exchange rate of 47.2 dop to the USD.*
 
Jan 9, 2004
9,696
912
113
Correct, but even budgetting with a higher rate but than highly overspending (elections...) it pays off to suppress the exchange rate, if you ignore the damage it does to the economy. Funny also how the budget of 2017 is made based on an exchange rate of 47.2 dop to the USD.*

Then they are surely in trouble, budget wise, using 47.2 for 2017.

With the possibility of 2 more rate hikes in 2017, the DR peso budget will surely be blown.

Respectfully,
Playacaribe2
 
Jan 9, 2004
9,696
912
113
I'm really NOT concerned about a .25% interest rate hike in the U.S.... if that is what it was. Everyone around the World knew that it was coming and panicked for a year. It was baked into economies long ago. Stock markets dropped almost a year ago (I bought) and are at ridicules highs (I've been selling) while gold now looks almost attractive due to that sell off going into stocks. Sorry, but I don't get it.

I believe you.

Some years ago the peso hit above 55 and lots of people changed U.S. for pesos. Within 2 months the peso dropped to 40. So when you worry about the peso moving up .05 I really have to advise that life is to short to worry about it. Moving large amounts? You should have had a better plan.... the U.S. rate hike has only been in the financial top news for 1 YEAR.

Yes it did. And that is the very basis of why I asked the question.

Better plan?

If the peso moves .3 or from lets say 46.5 to 46.8 that is a difference for my client of 100,000 pesos on this wire alone. We are not talking small change or "Christmas money."

So tell me about a better plan. Money needs to be moved to meet certain time constraints and if you move large sums regularly, you would better understand why paying attention to things that can affect that money....is the Plan.


Respectfully,
Playacaribe2