$US Dollar -vs- Peso

[Ohio Al]

Hey guys,
Strangely enough, even with the crappy US economy the dollar is way up against the Peso. Today's trading closed with 1$ US = 2540 Pesos.

[LastLion]

Originally Posted by Ohio Al

Hey guys,
Strangely enough, even with the crappy US economy the dollar is way up against the Peso. Today's trading closed with 1$ US = 2540 Pesos.

That's great news for us going to Colombia !!!! Thjanks for posting that I was wondering where we were at. I wish I had some dough to buy a place right now down there!

[southernroller]

Ya I'm getting about 2450 at the citibank atm here in Bogota. 9-11 dollar international withdrawl fee. Locals are expecting a high of 2600 to 1 soon. Use the atm's, only 2280 at the best cash exchange in the city.

[Micky10]

Citibank charges a large 3% foriegn transaction fee. I used them because it was the easiest for transfer of funds when we bought the apto. They started their ''Shylock'' move this past summer, account closed. As for as I know (which is not much) regular banks charge 1% transaction fee, and YES - the ATM is best rate you will get.

Love - Micky

[JMitch1959]

Micky,
Did you have any difficulty transferring the money to buy the apt.?

[Micky10]

JM -

There were some small feet dragging moves on both ends, but we did get it done without too much problems. I used Citibank because they have branches here. Part of the minor success of the ''drug war'' (ok, maybe changes, not success) is that the government now will, and has imprisonned some bankers for washing money. So it now is a bigger pain in the ass moving larger amounts of cash in and out of the country. We tried going with Bancolombia where we bank, but the paper trail was just too much. I think part of the process is how much your bank in the U.S. is willing to do as far as dealing with the Colombian bank.
There maybe other ways, but I don't know them.

Love - Micky

[JMitch1959]

Thanks Mickey,
It's something I think about at times; my wife would love me to buy a place in Cali.

Congratulations on the purchase of your apt. in Medellin.
It sounds like you're really happy there.

[Rogbo]

And even greater for the guys that live here,

[Secret Agent 001]

When I was in Colombia last summer the dollar was falling daily. It hit 1600 while I was there. Since we were staying with my wife’s family the financial impact on our trip wasn’t that much, but for those paying hotel bills etc. it made a big difference. At that time the Colombians were very worried that the falling dollar would wreck havoc on the local economy. Their exports of coffee, flowers, and emeralds are all vulnerable to a weak dollar, which would mean a loss of jobs in those industries. So enjoy the stronger dollar, who knows what comes next.

[veloire]

Originally Posted by Micky10

Citibank charges a large 3% foriegn transaction fee. I used them because it was the easiest for transfer of funds when we bought the apto. They started their ''Shylock'' move this past summer, account closed. As for as I know (which is not much) regular banks charge 1% transaction fee, and YES - the ATM is best rate you will get.

Love - Micky

Now all the international banks went to the 3% charge I believe for withdrawals/exchange outside of USA . Maybe there local banks are better for exchange. I am not familiar with Colombia, but very interested about the country.