Tuesday, Oct 21st

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

Is Republican Party Dead ?

News image

                                   ...

Read more

Truth in Comics

News image

I grew up with DC comics but Marvel Comics have been growing on me through the years. The latest edition ...

Read more

Super Tuesday premlim results

So far the Super Tuesday result s are Clinton 6 , Obama 4.  Sigh. MASSACHUSETTS: GOP: Mitt Romney DEM: Hillary Clinton CONNECTICUT: GOP: John McCain DEM: ...

Read more

Baltimore Mayor Indicted for Corruption

Sigh.  What is wrong with people?  Are they that stupid to think no one would notice their grubby paws in ...

Read more

The Straight talk Express is a Mess!

The Straight talking Express is a mess! Let’s take a look at the real, new improved McCain. The straight talking me...

Read more

Hewlett Packard to Cut 24,600 Jobs

On the heels of yesterday's market meltdown, Hewlett Packard will cut over twenty four thousand jobs....

Read more

Hussein Hussein Hussein

During the campaign, opponents to Obama have shouted his middle name over and over in an effort to provoke the ...

Read more

VP Debate: Rules Have Changed

News image

"McCain advisers said they had been concerned that a loose format could leave Ms. Palin, a relatively inexperienced debater, at a disad...

Read more

Michelle and the Internet, who controls the content

News image

What the fuck Google... Just when you thought the internet was free we find out that it isn’t. In...

Read more