| By Shorts on Thursday, May 17, 2001 - 11:15 am: Edit |
Just got done analyzing the market and saw that Citigroup (Citibank) is buying Banamex, I guess that is the reason for the dive in exchange rates today to less than 9Pesos to 1Dollar.
The rate as quoted in NY for exchanging dollars to Pesos is based on 1Million dollar bulk exchange rate, today at noon it was at 8.98pesos to 1dollar. not good for the Gringo but good for the Mexican shopper coming to the US.
S
| By Progman on Thursday, May 17, 2001 - 12:03 pm: Edit |
Not unnecessarily bad for us mongers. We can probably still get a 10:1 on pussy. If a SG quotes me 150 pesos I offer 15 dollars... (prog)
| By Rickfeliz on Friday, May 18, 2001 - 12:00 am: Edit |
excerpt from economist.com story on Vicente Fox
"...Exporters’ woes have been aggravated by the strength of the peso, which this week hit its highest level since mid-1998. Paradoxically, that is tribute to Mexico’s new-found economic stability: it has been a haven for short-term capital fleeing problems in Argentina and Brazil..."