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  1. #461
    Quote Originally Posted by BbqMushrooms  [View Original Post]
    I mean is there a way for me to buy pesos for an upcoming trip?
    Yes, but you will get severely raped and would be very lucky for the fluctuation in the rate to offset the high commission. Because, the COP is not a popular international currency. The bid-ask spread is quite high. Here is a ten year chart:

    https://www.xe.com/currencycharts/?f...o=COP&view=10Y

    So it's a continually depreciating currency overall (10.16% depreciation on average annually). That means short term fluctuations will be overcome by the long-term trend. That means you don't want to buy COP very far in advance even if you could get the short term blip right. Add to that the risk of holding physical cash.

  2. #460
    Quote Originally Posted by BbqMushrooms  [View Original Post]
    I mean is there a way for me to buy pesos for an upcoming trip?
    I think the price you pay if you try to buy in the US would not be to your advantage, generally you will get the best exchange rate from within the country you are visiting if you are from the US. But in any case the US dollar has weakened a wee bit since your post, but not sure how it is against the Colombian peso.

  3. #459
    Quote Originally Posted by Zeos1  [View Original Post]
    Buy only imported stuff.
    I mean is there a way for me to buy pesos for an upcoming trip?

  4. #458
    Quote Originally Posted by BbqMushrooms  [View Original Post]
    How do you capitalize on this in the states?
    Buy only imported stuff.

  5. #457
    How do you capitalize on this in the states?

  6. #456

    Visa Exchange Rate

    Today (Sunday 7/17) and Tomorrow you can pull Colombian pesos at 4,519 to the dollar. The transaction rate (XE rate) looks like it closed around 4,357 on Friday which would suggest that is the rate you will get on Tuesday. So if you need pesos you might want to get them now (or tomorrow).

    OH and never forget to decline any bank rate that is offered. That is solely offered to give you a silly option to enrich the bank. If you decline their no so generous offer you will get the Visa Exchange Rate that I've described above.

    Some have said this was a waste of energy. OK but here is an example of the relevance. If you are here a week. Let's say you pull 4,500,000 Colombian pesos (the equivalent of about 1,000 US dollars) now. Your plan is to fund your needs for the entire week. If you wait and get the money after the rate falls to 4,350 that same 1,000 US only gets you 4,350,000 Colombian pesos.

    That means you saved 150,000. Which is most of the cost of a FB cita or several meals or a couple of casa visits or whatever.

  7. #455

    Jajaj

    This service announcement part made me laugh out loud.

    Amazing rate. I need to get back ASAP.

    Quote Originally Posted by Villainy  [View Original Post]
    Tomorrow you can pull 4,627.45 Colombian Peso / Dollar at the ATMs. This is the highest it has been and based on currency trading results today (Wednesday) the Friday rate will be back to just under 4,500. So if you're thinking of grabing some money, Thursday (before 7 pm) is the time to do it.

    This public monger service announcement was brought to you by Villainy.

  8. #454
    Quote Originally Posted by Huacho  [View Original Post]
    Um I have no idea what that means but after vector you need a semi colon and not a comma. You are hooking two complete sentences together. That is what is known as a "comma splice. " Just so you know, since you seem really anal about details.
    Pffff. Hehe. Let me introduce you to WTF Jpaedo.

  9. #453
    Quote Originally Posted by JjBee62  [View Original Post]
    "Off" lacks a vector, it's positional, not directional.
    Um I have no idea what that means but after vector you need a semi colon and not a comma. You are hooking two complete sentences together. That is what is known as a "comma splice. " Just so you know, since you seem really anal about details.

  10. #452

    Visa Exchange Rate

    Tomorrow you can pull 4,627.45 Colombian Peso / Dollar at the ATMs. This is the highest it has been and based on currency trading results today (Wednesday) the Friday rate will be back to just under 4,500. So if you're thinking of grabing some money, Thursday (before 7 pm) is the time to do it.

    This public monger service announcement was brought to you by Villainy.

  11. #451
    Quote Originally Posted by JjBee62  [View Original Post]
    That's why it's important to read the entire post to understand the content, instead of focusing on one word taken out of context.
    True, but your posts are way too fucking long most of the time.

  12. #450
    Quote Originally Posted by Huacho  [View Original Post]
    "Originally Posted by JjBee62.

    Let's assume he finds a source to get COP at 6% off cost".

    Perhaps you meant 6% above cost. After I read the above, I'm not sure I even looked at the numbers. Because if you get something at X% "off cost," that's known as a discount.
    Thus your failure to comprehend what was in front of your face.

    "Off" lacks a vector, it's positional, not directional. Granted, it's frequently used as you assumed I was using it. That's why it's important to read the entire post to understand the content, instead of focusing on one word taken out of context.

  13. #449
    Quote Originally Posted by JjBee62  [View Original Post]
    Right. Except the only person who said it was a fucking discount was you.
    "Originally Posted by JjBee62.

    Let's assume he finds a source to get COP at 6% off cost".

    Perhaps you meant 6% above cost. After I read the above, I'm not sure I even looked at the numbers. Because if you get something at X% "off cost," that's known as a discount.

  14. #448
    Quote Originally Posted by Huacho  [View Original Post]
    Right, so it's not a fucking discount; it's a premium or a haircut or a cost or a negative or whatever you want to call it. I get his math. My point is the futility of overcoming such charges when it's all a crapshoot. A lot of people think they can predict the direction of forex, interest rates and so forth. But, I actually can predict exactly what foreign exchange rates are going to do!.

    They are going to fluctuate. Forex rates will always depend on relative real interest rates, the balance of trade, and the perceived ability of the country to control and tax its citizens. But, all three of those components are continually fluctuating. Keep your wealth in a stable currency and go with the flow on exchange rates. If you live in Colombia, you're going to have to put up with it because you can't control it. If you are portable, you can live where your native currency is strong. But, that could change. Now, if you are based in a country with a strong currency and just travel periodically, then you can definitely benefit by traveling where the exchange rate tells you to.
    Right. Except the only person who said it was a fucking discount was you. You getcall wound up over something that existed only in your mind and then get twisted further out of shape when it's pointed out that you failed to grasp the math.

    Switch to decaf.

  15. #447
    Quote Originally Posted by Huacho  [View Original Post]
    Dude. No. There are not discounts on foreign currencies. You're not going to buy a dollar for 94 cents ever, either.
    Dude. No. Is there something in viagra that causes people to forget basic math? The numbers are right there in my post for the hypothetical situation I offered and they clearly indicate that a discount was not being discussed.

    When you exchange currency, either by withdrawal from an ATM in another country, or using a currency exchange office, you pay a fee (although at times the fee is zero or even negative, I'll explain). That fee takes many forms. Some banks charge for a foreign currency conversion, some charge for using a foreign ATM. Exchange offices give a rate which is less than the current rate. Even with no fees, there is usually a difference between the rate you receive and what the actual market rate is at the time of the transaction (which is how it's possible to get a negative fee, or get the money at a discount). All of this has been explained completely by both Villainy and FunLvr.

    I don't know all of the various rates which you can buy pesos in the US. I know that at one time Bank of America customers could get pesos for a very good rate. If I remember correctly 1.5%. I also know that one of my banks, when I asked about it offered a terrible rate, worse than bad airport exchange rates.

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