Peso Tanking?
We skipped our annual trip south of the border this year, planning on 2015. I have been reading the peso is dropping in value. Today it is around 15 to 1 U.S. Causes for the drop are said to be the c...
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...in the day (of crashing currencies, from mexico to south america), virtually everyone i ever met exchanged their nearly worthless paper, literally minutes after receiving their pay, to us dollares.
Think about it; 10 lempiras on friday would buy say a gallon of gas in 1993; on monday, your 10L would only get you .87 gallons ! One would have to be crazy to hang onto any local currency more than a week. Anyone who worked in latin america would only exchange enough us dollars to get by for 4 or 5 days, then repeat...
Literally every parque central in every city/town of any size had/has money changers fighting it out for your business :-)
Think about it; 10 lempiras on friday would buy say a gallon of gas in 1993; on monday, your 10L would only get you .87 gallons ! One would have to be crazy to hang onto any local currency more than a week. Anyone who worked in latin america would only exchange enough us dollars to get by for 4 or 5 days, then repeat...
Literally every parque central in every city/town of any size had/has money changers fighting it out for your business :-)
