Job Discussion Forums

jfurgers · Joined: 18 Sep 2005 Posts: 442 Location: Mexico City

http://www.cnbc.com/id/28937281

MikeySaid · Joined: 10 Nov 2004 Posts: 509 Location: Torreon, Mexico

So...

is this affecting anyone? It only bothers me when I want to transfer money into a bank account back home or buy plane tickets.

I haven't really noticed it making things any more expensive for me yet.

MO39 · Posted: Sat Jan 31, 2009 2:46 am Post subject:

Gary Denness · Guest

I'm off to the UK today for two weeks. Fortunately, the collapse of the pound has been even more spectacular.

And like Mo I get some income in dollars, so at the moment all is good!

Oreen Scott · Joined: 11 Jan 2008 Posts: 179 Location: Oaxaca, Mexico

Will this be good for the Mexican tourist industry?

Last year, when the Canadian dollar was on par with the American dollar Canada lost out in two ways, the exporting of manufactured goods, and the number of foreign visitors to the country.

More Canadians stayed home instead of traveling outside the country, but Canadian tourists in Canada did not make-up for the revenue lost because Americans in particular did not visit.

MikeySaid · Joined: 10 Nov 2004 Posts: 509 Location: Torreon, Mexico

If it were just the peso losing ground and not the US seeing job after job disappear I would think Mexico's tourism industry would benefit greatly. Instead, this will hurt Mexico as more people scrap vacations from their plans, cut them short, or look for destinations closer to home.

I suppose that travel agents could push people in the direction of Mexico telling them the dollar hasn't gone so far in a long time, though.

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

A curious thing happened to me today...I went into an HSBC to change some US dollars into pesos and was told by the teller than HSBC Mexico no longer conducts any business in any currency but pesos. Struck me as very odd for a foreign-owned bank that continues to post the exchange rate outside its branches...