Exchange Rate July 31 , 2005

[ajax718]

The exchange rate posted at the Jaragua Hotel in Santo Domingo is

27.5

[guttaman]

Go to a cambio. Hotels are a rip off

[gdogg]

Envios Boya currently has it at 28.10.

[guttaman]

The street might get you an extra point or wait until monday morning. 27.5 is terrible.

[Reel Deal]

The street might get you an extra point or wait until monday morning. 27.5 is terrible.

get used to it; it's not very likely to exceed or be lower than that # by more than 10%...

[guttaman]

RD, i am going to open a Bank account in the DR. Peso account has a better rate but US money account seems to hedge better when the peso goes loco. You have the most knowledge on economics and the DR. I like to gamble but have been told to open a dollar account at Scocia bank for it is the safest. Any wisdom on this subject?

[Reel Deal]

RD, i am going to open a Bank account in the DR. Peso account has a better rate but US money account seems to hedge better when the peso goes loco. You have the most knowledge on economics and the DR. I like to gamble but have been told to open a dollar account at Scocia bank for it is the safest. Any wisdom on this subject?

Use a bank with a US/Canadian alliance.

If you open a dollar account, you can more easily play the exchange rate game.

With the peso stable, you might consider putting some pesos in a CD; the rate is higher than the dollar CD's.

If I chose to open DR bank accounts, I'd split my money into something like 65% in dollar CD's, 35% in peso CD's. That makes a good diluted, hedged mix.

Just keep in mind DR banks are NOT as safe as US banks.

Caveat Emptor

[gmalet]

I'm glad I hung on to a few thousand pesos on my last trip. I got them at 32. Since last November I have not seen the Peso go above 30. Hopefully the price of pussy goes down.

[Jimmydr]

I'm glad I hung on to a few thousand pesos on my last trip. I got them at 32. Since last November I have not seen the Peso go above 30. Hopefully the price of pussy goes down.

Hell yea, it dived.

[gmalet]

Thats good. Then it don't matter. I could care less about buying anything else.