Colombian Peso exchange rate and related issues

[Gimmedub]

That's one hell of an overshoot.

Other than directly buying the physical pesos, any suggestions on locking in the USD / COP exchange rate? My likely target is $2950/3000 - 1 with a possible overshoot to the $3500/3600 - 1 area.

[Dccpa]

Other than directly buying the physical pesos, any suggestions on locking in the USD / COP exchange rate? My likely target is $2950/3000 - 1 with a possible overshoot to the $3500/3600 - 1 area.

[Woodman09]

Back up as I predicted earlier in this thread.

Wow-- Get good pussy for $16 at this rate Will make a Cajero run tomorrow to get this Fantastic rate 700,000 pesos for $250!

That's a lot of Pussy -- Wish I was younger.

Guide services available in Bogota-- I'll keep you safe and save you money!

[Gimmedub]

Actually I believe you get the TRM rate from the ATM after settlement. Usually it's the rate a couple days before and is always posted on Twitter and banco República website.

Check out at SFCsupervisor's Tweet: https://twitter.com/SFCsupervisor/st...504027137?s=09.

Schwab's foreign exchange rate is the average of the wholesale bid rate and the wholesale ask rate for the day of the transaction. You can't beat it. It's awesome.

[Dickhead]

Schwab's foreign exchange rate is the average of the wholesale bid rate and the wholesale ask rate for the day of the transaction. You can't beat it. It's awesome.

[Sun08]

Get a charles swabb account, no ATM fees international ever, or get a citibank account and only use the ATM in Rio Sur Mall. There might be another one but that's the only one I am aware of.

Do you know what exchange rate you get when using Schwab account? In other words, If I use my bank account and including all fees I get 2650, will you get a better rate with Schwab account with no fees? I guess the only way to know is to use both your Schwab and bank on the same day and compare. I am interested to know whether there are no hidden charges. Thanks.

[BlueChange]

I was looking for a bank in Colombia that I can withdraw up to $500 US per day. I can confirm the Citibank will allow withdrawing that much. On few occasions, I got 1280 k pesos from the Citibank ATM. On the screen it showed it will charge 13.8 k pesos for ATM fee. On another occasion it was 14 k pesos ($5. 3 US). On top of that, you will pay Transaction Fee and ATM fee that your own bank will charge. In my case, including the ATM fees and transaction fees, my US bank account was charged $483 on one occasion and $486 in another occasion. So I got peso rate of 2633 and 2650.

Get a charles swabb account, no ATM fees international ever, or get a citibank account and only use the ATM in Rio Sur Mall. There might be another one but that's the only one I am aware of.

[Sun08]

I was looking for a bank in Colombia that I can withdraw up to $500 US per day. I can confirm the Citibank will allow withdrawing that much. On few occasions, I got 1280 k pesos from the Citibank ATM. On the screen it showed it will charge 13.8 k pesos for ATM fee. On another occasion it was 14 k pesos ($5. 3 US). On top of that, you will pay Transaction Fee and ATM fee that your own bank will charge. In my case, including the ATM fees and transaction fees, my US bank account was charged $483 on one occasion and $486 in another occasion. So I got peso rate of 2633 and 2650.

[Jan 156]

From an S. A. Viewpoint, the drugs trade is a USA Problem. A local industry would not involve such violence: it is USA Demand that turns it into a major problem. Colombia produces and supplies cocaine, mostly illegally. The USA Produces and supplies firearms, illegally. It's a trade.

If the USA Regulated cocaine and firearms better, everyone would be better off. SF has only just got round to regulating hash, so no rush to regulate cocaine. Any appetite to regulate firearms is quite quickly quashed.

A responsible adult should be able to use either. They regulated alcohol (not perfectly, but reasonably successfully, and much better than the failure of the Prohibition era).

Regulation of the sex industry (probably tolerance and protection of workers rather than seeing it as a source of tax revenue) would also reduce associated crime. But paramoia feeds on itself. For all the religious fervour or so-called religious tolerance of America there is one great God surprisingly lacking, which is that of common sense.

[C Jack Sparrow]

The legal export 2014; $US 54.705. 991 http://www.trademap.org/Country_SelP...1|1|2|2|1|2|1|.

Value of the cocaine when leaving the Colombian coast; ; 600 ton x $US 4000 per kilo =$US 2. 4 billion.

Marketvalue in US / EU 600 ton X $US 70,000 per kilo = $US42 billion.

http://www.infobae.com/2011/03/09/10...able-del-mundo

As we can see there are a huge difference between the price the cartell La Hermandad gets, 4000, and the final price to the consumer, 70.000.

How long in the chain does then the cartell La Hermandad operate? Many times La Hermandad in involed as close to the consumer that is possible and transforms the profit into legal business in the US / EU. Sometimes they reinvest in Colombia, but far from always.

We end up with numbers that says that the cociane trade is a very important part of the colombian economy.

[C Jack Sparrow]

Baloney, I've spent enough time in Colombia to know better, I don't need a calculator, pencil and spreadsheet to figure this one out.

But how big can we estimate that the cocain economy really is?

Can you then give us some further info. ?

Of any kind!

[Manizales911]

Cocain can't be compared with a heavy industry like oil at all.

Baloney, I've spent enough time in Colombia to know better, I don't need a calculator, pencil and spreadsheet to figure this one out.

[C Jack Sparrow]

The growth in Medellin or any city for that matter has nothing to do with oil or the economy, it is built on coca. Just go to one of the high end malls and see all of these shops that do very little business yet stay around for years. It's called money laundering.

On the microlevel Manizales is right, but on the macrolevel, no.

Cocain can't be compared with a heavy industry like oil at all.

Estimate that cocain can affect, let's say 5% of the economy. But to a few hands. That's why it shows so much, with those shops and restaurants.

But how big can we estimate that the cocain economy really is?

Manizales imply it's very big. It has one advantage; the profitmargin is enormous. No legal industry can compare with such marginals.

But it is not reasonable that the rich countries would consume so much cocain that it affects Colombias economy more than marginally.

It's a phenomonen. Like fotball // soccer / It is on media a lot, but isn't the very foundation of the economy.

It would requiere a consumption in the West that is unrealistic. Even though prices are very high and profitmarginals huge. The major part of the money involved circulate inside the Western economies, from legal to illegal, not from Western countries to the poor producing countries. It is easy to make the error to translate market price of a gram/ounce of cocaine in, for example, the US and aggregate it into a income for Colombia. I estimate that 75% of the marketvalue is circualting inside the US.

If the cocaine trade didnt exist. How would an alternative economy look like, if the West would legalize cocaine in order to get rid of this trade and sell it in pharmacies on prescription.

The foregin investments would rise dramatically as an effect of diminising voilence. The much lower land-risk which would admit huge capital interests to invest in Colombia, something they simply cant risk today. This loss of investments are the biggest alternative cost for Colombia. The cocaintrade is in this sense a great obstacle for economic development.

Another alternative is that the criminal organizations remains, being established since decades. They looses this trade and enter others, that might be far worse than cocaine; human trafficing, other even more potent drugs, which can be developed by genmodifications. They start a new wave of kidnappings, back to its 1980-level, which was 20 times as high as today. All worse than cocaine trade, even if it is very violent in itself.

[Dccpa]

Nice, keep it going.

How about 2725 - 1?

I see another 10% upside potential, but the easy money has been made. The USD may have started another upleg earlier this month, but further peso depreciation is likely dependent upon the price of oil dropping.

[Manizales911]

Nice, keep it going.