Official Bank Rate today (12/02): 26.25:$1
Chica Ho's better start adjusting their rates!
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Official Bank Rate today (12/02): 26.25:$1
Chica Ho's better start adjusting their rates!
WHEW!!!! Why just last night I sold 2400 pesos to DT @ 29:1... :DQuote:
Originally Posted by dogwood
That's hilarious... :oQuote:
Originally Posted by Reel Deal
Thank Kiki... i mean Thank God i only came home with 500 pesos this trip instead of the usual 3000!!!
(Note to self: Tonite, offer DT 26:1 for the pesos he bought from me... :D )
just wait till you go back if it will be after Feb.... the rate should be up to 35 or maybe 37 by thenQuote:
Originally Posted by Reel Deal
It's all good, due to the fact I was ROBBED my last night it would have sucked to return with no pesos in my pocket when I returned in December and I need them for the taxi and Presidente when I get out of the airport.Quote:
Originally Posted by Reel Deal
I could have been dumber like Fernandez and signed an Oil contract with Venezuela for $40/barrel...Note Long term contracts are at $40/barrel and short term is $44 today!!! :shock:
CENSORED
Gotta love those Euro's :P
cant you just change money at the airport if you cant wait to drink your presidente till you get to the hotel... or bring back just a lil... i brought back 500 pesos this trip cause i know its gonna go up...Quote:
Originally Posted by Don Tomas
Fernandez getting $40 oil is a major coup!!!! That will definitely help the DR economy, especially since I understand Venezuela agreed to liberal credit terms.
On another note: I fully expect the Euro to lose ground against the dollar in the next 3 months. The dollar has about bottomed out-there is a definite floor to the rate. At the absolute bottom, you'll see euros flee to the US stock market again with the dollar strengthening.
That bodes well for the DR/dollar rate short term (prolly after the first of the year). I will not be surprised at a 35:1 rate, which would reflect the stronger dollar, and reduced inflationary pressure in the DR.
All good. :D
RD - the euro/dollar rate is dependend upon how cheap the Bush admin wants to make its exports.. currently a high euro is hurting Europe more than doing any good, so I hope you're right, but I doubt it.Quote:
Originally Posted by Reel Deal
I don't see dollar interest going up and with the current trade deficit I think the US will want to keep exporting as much as they can..
But hey we'll see..
I agree with peso/dollar assumption. currently Dr-exports are hit by the high peso rate..
Few reasons:Quote:
Originally Posted by BrooklynBeas
One: I have never found the money changer at the airport in Santiago or Puerto Plata.
Two: My next flight into paradise is to Las Americas in Santo Domingo, a totally new airport for me and I also arrive at 10:30pm. Even if I found the money changer, will they be open at 11pm? Now I have money to last me until the morning!
Three: There are other reasons to need pesos right away besides a Presidente, on mine and RD's first trip we got our Jeep with fumes in the tank.
I realize the government will probably up the rate a couple days before Christmas, I know it's gone down in the past but it's just a hunch on my part to make sure people are happy for Christmas. With the current trend (27ish right now) I would guess a solid 30-1 for a few days before Christmas. I do not see it higher. I bought RD$2420 for US$84 (I sold a RD$20 note to someone for US$1) so I got a rate of 28.8-1, if the rate is 30-1 on 12/23 I would have lost $100 pesos in the deal. I won't cry about it.
The Terms:Quote:
Originally Posted by Reel Deal
-One year contract with automatic renewals each year thereafter.
-50,000 barrels of oil or equivalent forms of fuel a day @ $40/barrel
-25% of the cost will be financed for 15 years at 2% interest with a one year grace period to pay the principal payable in Cash, Goods, and/or Services
The accord also includes a commitment by the Venezuelan government to collaborate in the exploration for oil in the D.R. and to train Dominican technicians.
The D.R. consumes an average of 140,00 barrels of oil daily, of which 110,000 are imported from Venezuela. The imports from Venezuela, however, were suspended in September 2003 after Chavez clashed with former D.R. President Hipolito Mejia, accusing Mejia of permitting former Venezuelan President Carlos Andres Perez to use the territory of the D.R. to conspire against Chavez.
My point is that most currency in the world is institutional, and chases the greates potential return.Quote:
Originally Posted by continentalmike
In this case, the US stock market-arguably the single most powerful private financial institution on the world-has been treading water really since 9/11. It has gone through a vetting and normalization process for quite a while.
When institutional investors see upside in the US stock markets, THAT is when you will see a rapid influx of foreign investment, and that is when the dollar becomes much stronger.
Additionally, the Fed in the US has been increasing the overnight rate recently, which is a signal they think the US economy is starting to heat up-a very good thing for the entire world. Low interest rates, modest inflation, unemployment at 5.1%, home ownership at an all-time high, and capital orders increasing are clear signals the Bear is awakening. You gotta remember-we just went through a year-long heated election process where one political party did everything they could to talk the economy down, making domestic and international investors a little skittish. That's history now. Time to "get 'er done".
I know Euros don't care for Bush (I also know the European press does NOT tell the whole story or truth about American politics), but NO US PRESIDENT can do very much about international trade. He can tweak around the edges, but short of an embargo can do little. It's really up to the market and the Law of Supply and Demand.
As for a trade deficit-it does not exist in a pure sense. Goods go in and out, but currency ALSO goes in and out. By combining goods, services, and currency, all trade is pretty much equal. Remember, currency is a "good" (or commodity), too. Trade is not all "guns and butter".
A shift in the DR rate from 27:1 (RD/US) to 35:1 is not especially radical; it's rather subtle in the bigger picture.
I found it when I went with Mario to check weather and file the flight plan. It faces away from the rental car area, but it's pretty much out in the open. Don't know the hours, though...Quote:
Originally Posted by Don Tomas
Lose RD$100? :shock: That's a Grande and a short!!!!!!!
you cheap fuck... you charged someone for a souvenior!!!Quote:
Originally Posted by Don Tomas
Heck I can get two Grandes for RD$100 provided I do not buy them in a club or on a beach!Quote:
Originally Posted by Reel Deal
I will ignore the above comment from Mr "It's my birthday, pay for a Passions BBBJ for me"Quote:
Originally Posted by BrooklynBeas
Besides he offered me the US$1, have you ever refused money?
yes i have refused money... i have bought things for my friends before and they went to hand me the money and i said dont worry about it... you havent?