Colombian Peso exchange rate and related issues

[Black Page]

Hi Guys:

I am visiting Colombia first time and too many zeeros in pesos sounds very confusing to me. What should I do to over come this problem.

Player2

Just refresh yr school math. Some tips:
divide by 10 -> take off 1 zero
divide by 100 -> take off 2 zeroes
divide by 1000 -> take off 3 zeroes
....
Sounds still confusing?

[Max Mojo]

Try going to http://www.oanda.com/convert/classic. On the left side of screen under Currency Tools, click on FX cheet sheet. The rest is self explanatory. Print out the currency converter for COP to USD, take to Kinkos and have it laminated. Carry in pocket while in country.

[Player2]

Hi Guys:

I am visiting Colombia first time and too many zeeros in pesos sounds very confusing to me.

What should I do to over come this problem.

Thanks,

Player2

[Member #4258]

Not me. I'd much rather the SM stayed low: I'm still buying in.

I agree with that. I'm still buying in too. In a few years we'll probably be better off because of this crash.

The COP broke 2400 but dropped back down a bit. It should keep going in our favor unless the Colombian goverment decides to stop it. I just need it to continue for one more month!

Hoser

[AddictedToWomen]

Nice news that it's over 2300 now. I doubt if anybody knows where it could go although it should continue move more in our favor. A few more COP to spend on the Calenas. Small consolation though considering the money we lost in the markets this week. I'd rather a COP of 1600 and have the Dow go back to 11,000+.

Not me. I'd much rather the SM stayed low: I'm still buying in.

[Justafool]

I took 1. 000. 000 COP out of my account at Citibank 10/28/2008 at 1523 Medellin time and the bank only deducted 417. 52 from my account. The will deduct another 1% ($4. 1752) later but this is still a great rate. I hope it keeps climbing for now and the prices of things (and love) do not rise as well.

[Member #4258]

If You like that, you'll love this: according to adv current spot price is 2322.

Looking at the long term history I was hoping it would go to 2300. Anything more, at least in the short term, would be a bonus.

Nice news that it's over 2300 now. I doubt if anybody knows where it could go although it should continue move more in our favor. A few more COP to spend on the Calenas. Small consolation though considering the money we lost in the markets this week. I'd rather a COP of 1600 and have the Dow go back to 11,000+.

[Justafool]

As Citibank explained it to me the first time I noticed the fees, they had been charging it all the time they used to include it in the withdrawal. One amount for the fee and withdrawal. They seperated it out and they are now itemizing the fee.

The fee is 2% from a Citibank ATM, I do not know what they would charge at a non-Citibank ATM. Citigold customers are only charge 1%. Any better ideas to save the fees; they add up over three weeks. THe fees in three weeks could find me love three or four times.

Anyone can recommend to me a bank to open a saving account? I tried Citibank for the low transfer but they will not allow one who cannot prove employment in Colombia to open an account.

Thanks,

Mike

THAT USED TO BE THE CASE, but as of Jan 08 they changed their rules and raised it to 3% then reduced it to 2%. I used to use my Ctitbank card ALL the time prior to 2008 in all parts of Colombia and was so happy to have no fees attached but NOW I avoid it at all costs due to the 2% on cash withdrawls and charges. Im gonna see if I can dig up some older statements and see if I can cut and paste a few innocuous withdrawls from Citibank ATM'S for examples.

[AddictedToWomen]

Well that resistance is over 2285 is a nice number!

If You like that, you'll love this: according to adv current spot price is 2322.

Looking at the long term history I was hoping it would go to 2300. Anything more, at least in the short term, would be a bonus.

[World Travel 69]

Here is a few places to Check:

http://www.oanda.com/convert/classic

http://www.dataifx.com/

http://www.xe.com/ucc/

http://finance.yahoo.com/currency/co...submit=Convert

[Papi Que Rico]

According to ADVFN it was at 2200 for 15 minutes but never broke through. Seems to be resistance at 2200.

I've got 2 months before I go to Cartagena so who knows where it will be. I'll be happy with anything over 2000.

Well that resistance is over 2285 is a nice number!

[AddictedToWomen]

Its official. banrep trm > 2250.

In the last few months the price of colombian pussy* has fallen by 20%.

(Assuming, of course, your bank is gracious enough to allow you access to your money.)

ATW

* and maybe some other less important things too

[Member #4258]

I agree 100% I have Bloomberg currencies on my desktop which is ONLINE and I never touched 2200, it briefly got to 2178.. but then took a dive... with it even going down lower now to 2150.. http://www.bloomberg.com/markets/cur...urrencies.html

According to ADVFN it was at 2200 for 15 minutes but never broke through. Seems to be resistance at 2200.

I've got 2 months before I go to Cartagena so who knows where it will be. I'll be happy with anything over 2000.

[AddictedToWomen]

@MHL:

Citi: Thanks, I'll be writing 'em.

Fx: ubc/o&a seem to have diverged from yahoo/banrep. No idea what the story is.

[Member #4258]

The COP finally bronke 2200 today to close at 2234 (Onanda).

Can't remember when it was above 2000 but probably sometime back in early 2007.

Thank god, the price of "Poke-Her" has finally gone down!

There was some resistance at 2200 so it's easier for it to go higher now.

Hoser