Re: Peso 19.7 US today
Posted by Jon on September 24, 2016, 11:16 pm, in reply to "Peso 19.7 US today"
I got 19.625 pesos per USD yesterday using my Citicard, ie, Citibank account at a Banamex ATM. Citibank owns Banamex, so there is no fee from anyone. That turns out to be $0.051 USD, or about a nickel, per peso. When we moved to Mexico in 2005, the rate was $0.11 USD per peso, less than 10 pesos to a dollar. So while inflation has raised prices in Mexico by about 30% over that same 11 years, our dollars now buy almost 100% more pesos than they did back then. We are not ecstatic about this situation, since it is destabilizing. But it is an opportunity for the moment.|