Currency Exchange Rate
Posted by David  on October 15, 2014, 2:07 pm
198.144.53.21
Does anyone know what the currency exchange rate is right now in Melaque for US. and Canadian.
Has it been going down or staying the same lately?
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-----------------------------Re: Currency Exchange Rate
Posted by MIchelle on October 15, 2014, 2:14 pm, in reply to "Currency Exchange Rate"|
The pesos to US dollar exchange rate just hit a two year high today at 13.61!
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Posted by David on October 15, 2014, 2:28 pm, in reply to "Re: Currency Exchange Rate"
198.144.53.21|
Is that what you are actually getting in Melaque?
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Posted by Rob L on October 16, 2014, 1:36 pm, in reply to "Currency Exchange Rate"
68.149.38.212
I am not sure what you are getting in Melaque, but the exchange rate this afternoon in Canada, through TD bank, is 0.0882 for MXN Peso-Canadian Dollar.
11.33378 MXN Pesos/$C is what I would receive today.
The $C value vs MXN has been generally bouncing downward for the past while with peaks on
Oct 2 & 8 (12.22 MXN/$C = 0.0792).
$C value has dropped for the past week but it jumped up a bit today.
It would be interesting to know the (cash received) rates (or rates and service fees) down there for exchange from $C on a given day so I could compare! Thanks. Rob
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-----------------------------Re: Currency Exchange Rate
Posted by cruz on October 16, 2014, 2:50 pm, in reply to "Re: Currency Exchange Rate"
187.146.143.108
What we get in exchange rate in Melaque is up and down like a roller coaster and also depends on which institution you are doing business with. The banks and anyone all make pesos on what is sent.
For instance, last week I made two different types of exchange transactions, changing USD currency and having $ transferred by a Canadian bank to my Banamex account.
I received 12.32/dollar and 13.07/Canadian. The posted rate was around 13.31/UDS. And no one could effectively explain the wide difference.
Is it just the issuing country or what? For now I like inter-bank transfers.
And no you will never received the posted exchange rate and you are lucky if you get within 30 centavos. Mis dos centavos, Cruz 
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-----------------------------Re: Currency Exchange Rate
Posted by Rob L on October 16, 2014, 11:46 pm, in reply to "Re: Currency Exchange Rate"
68.149.38.212
Thanks for the info, Cruz. Based on what you wrote, even with the bouncing exchange rate, you receive more pesos/$C down there as compared to purchasing them in Canada.
13.07/$C last week down there is better than our high here of 12.22/$C.
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-----------------------------Re: Currency Exchange Rate
Posted by Kushad on October 17, 2014, 11:16 am, in reply to "Re: Currency Exchange Rate"
24.108.61.160|
Is what you received, Cruz, for Canadian cash?
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Posted by Cruz on October 17, 2014, 12:03 pm, in reply to "Re: Currency Exchange Rate"
187.146.143.108
Hola. I hope I get the lingo right on this. The transfer was from, I believe, a Canadian Bank to Banamex via computer or on-line transaction. This was for a rental deposit.
Kushad, does this clarify your inquiry? Cruz 
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-----------------------------Re: Currency Exchange Rate
Posted by Cruz on October 17, 2014, 12:40 pm, in reply to "Re: Currency Exchange Rate"
187.146.143.108
Hola Rob. I just started looking for the best deal in exchange transactions and haven't been that good at tracking them to date. Maybe your best bet would be to have a bank account down here and transfer from your Canadian bank to it. Depending on the amounts transacted, the rates can make a sizable difference.
Can someone fill us in on Intercam rates? Sometimes they are good and other times not depending on the type of exhange, transfer vs currency or check. I'm going to stay on this investigation just because I don't like giving it away, especially to greedy  banks. Cruz
PS: Good news in that I was told by Caja Solidaria here in LM that an ATM is to be installed. Perla said that the service charge will be low. Let's hope so. I'm not sure but I believe that you won't need a Caja account to use this service. No more special trips to Melaque just for cash. But I am not holding my breath. Cruz 
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-----------------------------Re: Currency Exchange Rate
Posted by jon pace on October 18, 2014, 11:33 pm, in reply to "Re: Currency Exchange Rate"|
Are we really sure that a local ATM would be good for the community? I know that this discussion can get sensitive but there have long been concerns by locals that abuses of the ATMs could occur, especially within families. These concerns are considered to be real risks by some of our local neighbors. We should start asking people what they think about having one and take that into account.
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-----------------------------Re: ATM in La Manz
Posted by Lynne on October 19, 2014, 1:27 am, in reply to "Re: Currency Exchange Rate"|
Please explain what you mean by the possibility that ATM abuses could occur...within families...if an ATM machine is located in La Manzanilla rather than in another town. Huh? Every full-time resident I know here, Mexican and expat alike, is frustrated by having to go all the way to Melaque just to get cash --especially people without cars, and especially in emergencies. What, exactly, is the risk, and why is this a sensitive topic?
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-----------------------------Re: Currency Exchange Rate
Posted by jon pace on October 18, 2014, 1:08 am, in reply to "Currency Exchange Rate"|
We just got 13.61 pesos to the dollar (US) at Banco Multiva in Ajijic. We like that, as one might imagine.
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-----------------------------Re: Currency Exchange Rate
Posted by Kim on October 19, 2014, 8:15 am, in reply to "Re: Currency Exchange Rate"
198.144.53.21
13.61 is the rate I seen online but they said that is only between banks themselves.
This must mean that the rate has gone above that amount.
Tried getting a rate through the banks in the states and they will only give you 12.20.
Hope it stays up for awhile but seems it always goes down before must of the tourist get in town.
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Posted by Erin on October 19, 2014, 11:01 am, in reply to "Re: Currency Exchange Rate"
96.54.244.169|
I recently bank wired some funds to Banamex and I received 13.33 pesos to the USD which I thought was fairly good. According to some, that was a two year high rate.
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Posted by cruz on October 19, 2014, 11:50 am, in reply to "Re: Currency Exchange Rate"
187.146.142.172
Hola. I got 13.37+ yesterday from the ATM and my Wells Fargo Bank (USA). I believe the exchange rate was at 13.53 USD. Me happy, Cruz 
And Jon. Please spell out the problems with a local ATM. I am perplexed at what I am missing.
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-----------------------------Re: ATM in La Manz
Posted by Lynne on October 19, 2014, 3:32 pm, in reply to "Re: Currency Exchange Rate"|
I just overheard a Mexican neighbor ask if anyone could take him to the Melaque ATM machine, because he works full time and can't get off during the week to go over and back by bus. No one volunteered to take him, because of the high cost of gas. So, like Cruz, I am perplexed about what I might be missing regarding any disadvantages or risks of having a machine here in La Manz. Why would the whole town not jump for joy, living as we do in a cash economy, where everyone needs access to cash pretty much all of the time?
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-----------------------------Re: ATM in La Manz
Posted by Kimberly Otvos on October 20, 2014, 9:09 am, in reply to "Re: ATM in La Manz"
187.146.134.71
If your interested in some of the vunerabilites that ATMs have beside scanners this article describes a new threat.
http://krebsonsecurity.com/2014/10/spike-in-malware-attacks-on-aging-arms
In general ATMs not in the bank are very vulnerable to bad thinks.
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Posted by Mark S on October 20, 2014, 9:10 am, in reply to "Re: Currency Exchange Rate"
187.146.131.182|
As of Saturday, the exchange rate for U.S. dollars was 13.52, which means it's a good time to buy pesos.
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