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Thread: Exchange Rate In DR: May 2005

  1. #21
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    Quote Originally Posted by the_Jayman
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    buy low spend high

    Seems to me that the exchange rate moves seasonally. During the "in season" tourist times it is low. During hurricane season May - Septemberish it is high.

    I have seen this over the last two years, waiting to see if it plays again this year. If it does, I say buy pesos now and hold to the winter.

    *note: past history is not necessarily indicative of future performance. foreign exchange trading is risky or something like that so say the Fing lawyers...

    But WTF do i know there are much smarter people on this board. All I know is last summer it was 50-60 pesos to $1.00. It seems to be moving again and it the beginning of the summer. Time will tell I guess.

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    Re: buy low spend high

    Quote Originally Posted by bandera
    Seems to me that the exchange rate moves seasonally. During the "in season" tourist times it is low. During hurricane season May - Septemberish it is high.

    I have seen this over the last two years, waiting to see if it plays again this year. If it does, I say buy pesos now and hold to the winter.

    *note: past history is not necessarily indicative of future performance. foreign exchange trading is risky or something like that so say the Fing lawyers...

    But WTF do i know there are much smarter people on this board. All I know is last summer it was 50-60 pesos to $1.00. It seems to be moving again and it the beginning of the summer. Time will tell I guess.
    The last President was the worst that they ever had, bad example really.

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    rate is all over the place

    See this link:

    http://finance.yahoo.com/currency/co...DOP&amt=1&t=2y

    No real pattern here?

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    Re: May 2nd Rate

    Current exchange rate in DR (Oct 8th 2008): 35.20


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    Re: Exchange Rate In DR: May 2005

    35 is the best I ever seen it , and I only been goinf since 11/06. Will be back in 5 more weeks.
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    Re: Exchange Rate In DR: May 2005

    Got 34.8 yesterday over by Playero

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    Re: Exchange Rate In DR: May 2005

    SOSUA NEWS
    14 December 2008

    Peso comes under pressure

    Since Dominicans abroad are sending less money (dollars and euros) home to the families here, tourism is falling slightly, and exports (of bananas to Europe, for example) have dropped, there is less foreign currency in the country.

    The Dominican Republic imports almost everything, and needs to pay for these items in dollars or euros. As there is less foreign currency coming into the country, this pushes up the peso. In order to buy dollars for imports, companies are now paying more pesos for foreign currency.

    In order to prevent this, the national bank plans to keep the peso stable (at 35.5 per dollar) by injecting 50-100 million dollars into the market. However, if the crisis continues for a long period, the central bank will not have sufficient funds to continue this strategy. So, at some point, the peso will probably be devalued.




    Tourists will temporarily find prices lower, as they get more pesos for their dollars or euros, but, the import situation will mean that prices will rise quickly, and tourists will not really benefit.

    However, for Dominicans (who are paid in pesos) this will be disastrous - they will see prices in the shops being doubled, but their salaries don't keep up with inflation.

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    Re: Exchange Rate In DR: May 2005

    Quote Originally Posted by psriches View Post
    SOSUA NEWS
    14 December 2008

    Peso comes under pressure

    Since Dominicans abroad are sending less money (dollars and euros) home to the families here, tourism is falling slightly, and exports (of bananas to Europe, for example) have dropped, there is less foreign currency in the country.

    The Dominican Republic imports almost everything, and needs to pay for these items in dollars or euros. As there is less foreign currency coming into the country, this pushes up the peso. In order to buy dollars for imports, companies are now paying more pesos for foreign currency.

    In order to prevent this, the national bank plans to keep the peso stable (at 35.5 per dollar) by injecting 50-100 million dollars into the market. However, if the crisis continues for a long period, the central bank will not have sufficient funds to continue this strategy. So, at some point, the peso will probably be devalued.




    Tourists will temporarily find prices lower, as they get more pesos for their dollars or euros, but, the import situation will mean that prices will rise quickly, and tourists will not really benefit.

    However, for Dominicans (who are paid in pesos) this will be disastrous - they will see prices in the shops being doubled, but their salaries don't keep up with inflation.
    This next year in the DR should be interesting to say the least.

    Usually when the peso loses value and the american dollar rises, so do the chica prices. However, with this depression, tourism is going to be way down compared to years past. So, its hard to see how 500 chicas that go home each night alone can really afford to raise their prices to compensate the devalueing of the peso.

    Should be an interesting year, to see what happens.

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    Re: Exchange Rate In DR: May 2005

    Crime will be on the rise, putas are going to be desperate and maybe the non pro action will go thru the roof.
    I've offended you.....goood

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    Re: Exchange Rate In DR: May 2005

    The rules for supply and demand will eventually kick in.
    Jimmy owes me a dollar!

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    Clap Re: Exchange Rate In DR: May 2005

    just check on line looks like the Dollar is gaining on the peso
    Monday, January 12, 2009
    1 US Dollar = 36.73484 Dominican R. Peso

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    Re: Exchange Rate In DR: May 2005

    Quote Originally Posted by uncle226 View Post
    just check on line looks like the Dollar is gaining on the peso
    Monday, January 12, 2009
    1 US Dollar = 36.73484 Dominican R. Peso
    In Sosua last week they were paying between 35.1 and 35.2.

    Yahoo is showing the exchange at 35.35 today (jan.12) http://finance.yahoo.com/currency-co...submit=Convert

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  23. #34
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    Re: Exchange Rate In DR: May 2005

    Quote Originally Posted by Choirboy View Post
    In Sosua last week they were paying between 35.1 and 35.2.

    Yahoo is showing the exchange at 35.35 today (jan.12) http://finance.yahoo.com/currency-converter?amt=1&from=USD&to=DOP&submit=Convert
    Thats what it was on XE but it was 36.1 Friday

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    Re: Exchange Rate In DR: May 2005

    Quote Originally Posted by Hoseman View Post
    [/URL] Thats what it was on XE but it was 36.1 Friday
    What it says on XE and what you can get in Sosua are two different things.

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    Re: Exchange Rate In DR: May 2005

    Quote Originally Posted by Choirboy View Post
    What it says on XE and what you can get in Sosua are two different things.
    Yeah I know but I use it as a guide.

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