Dollar Will Shrink Before a Rise

[knotty]

Didn't know exactly where to post this, but I got this from today's NY Daily News. This was actually part of a larger article, but I took the part we would care about:

And to make matters worse for those feeling the pinch, many experts predict the trend for the city's immigrant communities will get worse before it gets better.

"Our view is that the dollar is going to continue to fall until the middle of this year before showing some strength," said Mustafa Caglayan, a currency strategist at J.P. Morgan Chase….

But no one has felt the dollar's dive more than those in the Dominican Republic, along wit their families here. Since February of last year, the dollar's value against the Dominican peso has been slashed in half.

[knotty]

Don't know if this should be separate from this post, but it was part of the same article.

Big money biz
At the five Envios money transfer stations in Washington Heights, business never stops humming.

The specialty player that serves the Dominican community processes a whopping $1 billion in transfers each year, thanks to a regular flow of customers sending money to family members back home.

Despite cutting fees to $5 per $500 sent to fend off competition from local banks, the Envios stores stay in business thanks to the huge volume generated by the nearly one million immigrants who live in the neighborhood, according to Jose Cordero, who manages the Envios location at 3867 Broadway.

"Every single household does it [send money to the Dominican Republic]," Cordero said.

And to supplement the business, most Envios centers provide additional services like travel, tax help and fixed-rate calling cards to various Spanish-speaking countries.


I need to run one of these, constant flow of money.

[psriches]

In the Heights, they have one on every other block.....

[BrooklynBeas]

www.enviosboya.com


27-1 today! ........fuckin sucks

[knotty]

wish I could invest in one of those. This would be a perfect business of ISOC members. You never go broke. Take a picture of all the Western Union boyfriends and post them here. A post just for suckers.

[el_papi_chew_low]

www.enviosboya.com


27-1 today! ........fuckin sucks

Thanks for that link. Might come in handy one day!

[Pana]

Yeah I read that in the paper yesterday, the funny thing is that the dollar is going down in DR but the prices are still the same, every fucking thing is expensive down there thats a fucking 3rd world country ,gas is almost $4 dollars for 1 gallon and pringles pato chips are like $2.00 or more what the fuck is going on down there.

[gmalet]

I was down there two weeks ago. I used the ATM and got 6000 pesos for 211.00. I never used the ATM before. I think that is the best choice for me. Everyone on the streets wanted 28.00 to 28.60

[BrooklynBeas]

Yeah I read that in the paper yesterday, the funny thing is that the dollar is going down in DR but the prices are still the same, every fucking thing is expensive down there thats a fucking 3rd world country ,gas is almost $4 dollars for 1 gallon and pringles pato chips are like $2.00 or more what the fuck is going on down there.

I heard the gas prices were going down a lil... Pato chips... Isnt pato a fag in spanish... I would stay away from them... hehe... $2 aint bad if your talkin potato chips... they are like 4 or 5 bucks at the airport and $1.69 usually here in NY unless they go on sale for $1

[Reel Deal]

Yeah I read that in the paper yesterday, the funny thing is that the dollar is going down in DR but the prices are still the same, every fucking thing is expensive down there thats a fucking 3rd world country ,gas is almost $4 dollars for 1 gallon and pringles pato chips are like $2.00 or more what the fuck is going on down there.Labor intensive products in the DR are cheap; resource intensive and imported products in the DR are expensive.

That's typical in the Third World.

[Dark Knight]

I think we can survive on $2 potato chips. It's the $3 presidentes and $5 rum and cokes that put a crimp in our mongering activities. Just wondering if that bar next to merengue still has the 30 peso rum and cokes? Best bargain in Sosua. Later, SB

[BrooklynBeas]

I think we can survive on $2 potato chips. It's the $3 presidentes and $5 rum and cokes that put a crimp in our mongering activities. Just wondering if that bar next to merengue still has the 30 peso rum and cokes? Best bargain in Sosua. Later, SB

If you guys drink cuba libre's (rum and coke)... dont buy them by the drink... Go to a bar or club and buy a bottle (small bottle makes about 6 drinks).. Bottle of brugal comes with 2 bottles of coke... if they dont give you the bottles of coke make sure you tell them you know they come with them... they are anywhere from 200-300 pesos each including the soda... At 200 pesos which is what i think i paid at Classico it comes out much cheaper then buying it by the drink... Plus you look cooler with a bottle and have a better chance at getting a hot girl... hahaha

[Dark Knight]

Thanks for the tip, BB. Lets see:
6 drinks=6 chicas @200 a drink. Not sure it would be cheaper but, would have plenty of company. Sounds like a plan. Later, SB

[BrooklynBeas]

Thanks for the tip, BB. Lets see:
6 drinks=6 chicas @200 a drink. Not sure it would be cheaper but, would have plenty of company. Sounds like a plan. Later, SB

not 200 a drink u butthead... 200 for 6 or 7 drinks... about 30 pesos each