COP exchange rate

[el_ruso]

What is the current exchange rate?  Only months ago it was 2,300-2,400.  When I looked at the Western/ Moneygram exchange rate it is 2,000.

[william3rd]

Dollar has been down worldwide.

Met a couple disgruntled ex-pats coming hme from Thailand (dollar off 20% in the last year to the baht, lowest level in 9 years) griping about the "American peso." Seems that they couldnt make it over there on social security and have to work over here again to earn a little money.

[Calipro]

What is the current exchange rate?  Only months ago it was 2,300-2,400.  When I looked at the Western/ Moneygram exchange rate it is 2,000.

On April 28 my wife withdrew 400,000 COP for a cost of $188.84 not including the $1 ATM charge. So that was an exchange rate of approx. 2118 COP per dollar.

On April29 she withdrew 300.000 COP for a cost of $141.38 that gives an exchange rate of 2122 per $1 with only a one dollar ATM charge using a PayPal debit card.

Nothing is worst than Western Union’s fees and exchange rate. If I have to send money for and emergency I use Ria Envia.

[pan de bono]

yea the rate really sucks right now, last i heard it was 2084 and heading down.

[bundy_138]

Yesterday, I got a rate of 2122 with Moneygram.  Still haven't received my Paypal debit card 

Bundy

[Dan Las Vegas]

Today the rate is only 2075 and it appears to be heading south on a daily basis.

[Parlay Rey]

http://www.xe.com/ucc The Universal Currency Converter.

[el_ruso]

I was in Europe last month.  Euro was like 1.3!  This is getting ridiculous.

[utopiacowboy]

We're lucky it's not worse than it is. Give it a few more years.

[Calipro]

We're lucky it's not worse than it is. Give it a few more years.

The HUGE amount of deficit spending the government has been doing for the past 5 years is one of the main factors for the downward pressure on the dollar.

You can’t just keep printing money like crazy and spending it without some serious consequences down the road.

When the government raises taxes or interest rates to cut back the money supply the dollar will go up. Raising interest rates has the dual effect of lowering money supply and attracting foreign investors to buy T Bills, which in turn increases demand for the dollar and strengths it in two ways.

But somebody has to pay the deficit that invading and occupying two countries has caused. And that means more taxes down the road or I guess we could dump Medicare and social security and let the old folks fend for themselves.

[utopiacowboy]

Good analysis, Calipro. Basically we're f*cked. Good thing my wife kept her apartment in Medellin. We may need it.

[william3rd]

Thank you Mr. President for your sound economic policies-among other things. Can we re-elect you again for another 4 after this? Then we can become part of Mexico. . ..

[Frank Rizzo]

So, in relation to the peso. How far down do you see this thing going and how fast? Are we talking about 1500??

[Calipro]

So, in relation to the peso. How far down do you see this thing going and how fast? Are we talking about 1500??

The I don't think the government will ever let the dollar get so weak that it will ever hit 1500 COP.

[Dan Las Vegas]

I think it will continue to decline to the 1900 level and then fluctuate a bit up and down for the near future

[Frank Rizzo]

I hope you're right Calipro, i've got 1 word for an exchange at 1900.    B R U T A L !!!

Do you guys see in say the next year, the dollar getting stronger back to the 2500 range we had about a year ago?? Thanks.

[william3rd]

Until we get our financial house in order, the dollar isnt going anywhere.

It isnt just the COP, its the EU, the THB, the HKD, the pound.

[papi]

apparently there is a correction:

http://www.bloomberg.com/apps/news?pid=20601086&sid=azTok0xYdg.c&refer=news