Monday, Jan 26th

Last update:05:18:56 PM GMT

Dollar at 6 Year Low to Mexican Peso

E-mail Print
Share
Better plan your vacation to Cancun while you can still afford it.  The Mexican Peso is gaining ground on the U.S. dollar...another sign of the U.S. weakening economy .

The Mexican currency’s hot streak is about to take the official exchange rate through the 10-to-the-dollar threshold for the first time since 2002. American tourists, you’ve been warned.

Buttressed by rising interest rates and a surprisingly strong economy, the peso has been surging against the dollar in the last few weeks, continuing a run-up that began early in the year.

The official market rate -- meaning for large transactions at banks -- had the peso at 10.005 to the dollar this morning, down from 10.07 on Tuesday, according to Bloomberg data. Last August the dollar still was worth more than 11 pesos.

The last time the dollar bought fewer than 10 pesos was in October 2002.

For U.S. tourists the greenback already has crossed that line, because most bank exchange rates are much less favorable than the official rate. Wells Fargo & Co.’s online currency center today was quoting 9.2 pesos per dollar.

Since 2002.  Soooo...the country to the south that we like to disparage so much has an economy that is on the come up, while ours sinks further into the toilet.  Thanks Bush, your presidency has been a pinnacle of success.  Bush has now succeeded in making the Peso more valuable.  Congrats!

Add comment

Security code
Refresh

Latest Comments

From the Forum

Article Roundup

The Cure for the Fat Gene

Last month, I got on my soapbox to rant off on an article I found about the Obese demanding that ...

Read more

John McCain Hates Bloggers

John McCain hates bloggers.  Well, guess what?  The feeling is mutual.  McSame once again, just like the guy he emulates, ...

Read more

Robert Gates On Obama

News image

Defense Secretary and the only member from the former Bush Regime who was asked to stay on his job in ...

Read more

Palin and the Witch Hunter

News image

Palin and the witch hunter.  Say that aloud, at least twice.  You never thought you would be mentioning a candidate for ...

Read more

Blagojevich Drama Again

Can't we just dig a large hole and shovel this guy into it? He is almost single handedly sucking all ...

Read more

Philadelphia Phillies Win the World Series

Something that I thought may not happen in my life time has just happened, the Philadelphia Phillies has won the ...

Read more

Japan Mega 8.9 Earthquake

News image

This is Japan's largest earthquake in more than 100 years. A staggering 8.9 magnitude hit northern Japan early Friday, triggering ts...

Read more

Smart in their own way

Politics nowadays just keep getting better and better.  All of this crap gives me a warm and fuzzy feeling inside...sorta ...

Read more

GOP Pledge To America

News image

The Republicans unveiled their own roadmap to "fix the country". This 48-page document is full of big words and glossy ph...

Read more