And yet you can now exchange your Bitcoin for cash at the Taormina.
https://coinatmradar.com/bitcoin_atm/42 ... -taormina/
I am NOT a 0.0047BTC boy!!!
| www.CostaRicaTicas.com https://forum.costaricaticas.com/ |
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| Dollar Headed South https://forum.costaricaticas.com/viewtopic.php?f=1&t=53881 |
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| Author: | Tuanis [ Tue Aug 23, 2022 9:33 am ] |
| Post subject: | Dollar Headed South |
Less than a month ago the dollar was trading at 700. Yesterday it was trading at 654 today 642. Dropping like a rock. Does not look good for the near future. |
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| Author: | Boynton [ Tue Aug 23, 2022 11:04 am ] |
| Post subject: | Re: Dollar Headed South |
And yet you can now exchange your Bitcoin for cash at the Taormina. https://coinatmradar.com/bitcoin_atm/42 ... -taormina/ I am NOT a 0.0047BTC boy!!!
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| Author: | loufa1 [ Tue Aug 23, 2022 12:27 pm ] |
| Post subject: | Re: Dollar Headed South |
Boynton, Nice... You have done some good ones, but that is epic! |
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| Author: | Netgems [ Tue Aug 23, 2022 12:40 pm ] |
| Post subject: | Re: Dollar Headed South |
Tuanis wrote: Less than a month ago the dollar was trading at 700. Yesterday it was trading at 654 today 642. Dropping like a rock. Does not look good for the near future. Nothing to do with the USD movements although we certainly are having an interesting time with spiraling inflation and beginning recession. https://www.xe.com/currencycharts/?from ... RC&view=5Y Basically, CR borrows massive amounts from time to time and it puts a temporary halt and even temporary decline in the inevitable upward trajectory, it can't last, they're just delaying the inevitable and at some point it will be fruitless and they'll have to allow it to settle naturally. I explain it to people this way : The USA economy is going to hell, but Costa Rica's is worse...https://www.crhoy.com/economia/credito- ... -reservas/ |
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| Author: | Boynton [ Tue Aug 23, 2022 1:00 pm ] |
| Post subject: | Re: Dollar Headed South |
Netgems wrote: Tuanis wrote: Less than a month ago the dollar was trading at 700. Yesterday it was trading at 654 today 642. Dropping like a rock. Does not look good for the near future. Nothing to do with the USD movements although we certainly are having an interesting time with spiraling inflation and beginning recession. https://www.xe.com/currencycharts/?from ... RC&view=5Y Basically, CR borrows massive amounts from time to time and it puts a temporary halt and even temporary decline in the inevitable upward trajectory, it can't last, they're just delaying the inevitable and at some point it will be fruitless and they'll have to allow it to settle naturally. I explain it to people this way : The USA economy is going to hell, but Costa Rica's is worse...https://www.crhoy.com/economia/credito- ... -reservas/ Yeah but .... CR just refinanced public debt in colonnes with Eurobonds. Now one Euro trades at a 5 year low against the dollar. Coincidence? Hmmmmm. |
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| Author: | Bookie [ Tue Aug 23, 2022 1:24 pm ] |
| Post subject: | Re: Dollar Headed South |
Boynton wrote: I am NOT a 0.0047BTC boy!!!  Nice to know these machines exist, but 10% transaction fees are a killer. |
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| Author: | Tuanis [ Wed Aug 24, 2022 1:19 pm ] |
| Post subject: | Re: Dollar Headed South |
Down to 632 and still headed south. |
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| Author: | Boynton [ Wed Aug 24, 2022 2:16 pm ] |
| Post subject: | Re: Dollar Headed South |
That's 9.7 cents on a dollar. With local inflation running at 11.48% and the government trying to sell the Banco Internacional de Costa Rica (BICSA), the Banco de Costa Rica (BCR), and 49% of the State insurer, the Instituto Nacional de Seguros (INS) I would not be stockpiling colones. In this case, what goes down may soon skyrocket. |
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| Author: | LocoGringo [ Wed Aug 24, 2022 8:22 pm ] |
| Post subject: | Re: Dollar Headed South |
It will probably head back up to the 700 handle after the Fed meets September 21st and raises US interest rates again. The USD is killing it against the other major currencies. |
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| Author: | Netgems [ Thu Aug 25, 2022 5:04 pm ] |
| Post subject: | Re: Dollar Headed South |
Bookie wrote: Boynton wrote: I am NOT a 0.0047BTC boy!!! Nice to know these machines exist, but 10% transaction fees are a killer. Get a Schwab or Capital One 360 account, I get full crc sell price and all fees paid when withdrawing colones at atm's here. |
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| Author: | Zeos [ Fri Aug 26, 2022 10:36 am ] |
| Post subject: | Re: Dollar Headed South |
Netgems wrote: Bookie wrote: Boynton wrote: I am NOT a 0.0047BTC boy!!! Nice to know these machines exist, but 10% transaction fees are a killer. Get a Schwab or Capital One 360 account, I get full crc sell price and all fees paid when withdrawing colones at atm's here. Buying CRC but getting the sell price... I'm confused. Usually if you buy you get a few less colones than the mid market rate, and when you reverse that and sell your colones it takes more to buy the USD. Unless you are referring to the selling and buying of the US dollar..? |
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| Author: | Netgems [ Fri Aug 26, 2022 1:43 pm ] |
| Post subject: | Re: Dollar Headed South |
Get a Schwab or Capital One 360 account, I get full crc sell price and all fees paid when withdrawing colones at atm's here.[/quote] Buying CRC but getting the sell price... I'm confused. Usually if you buy you get a few less colones than the mid market rate, and when you reverse that and sell your colones it takes more to buy the USD. Unless you are referring to the selling and buying of the US dollar..?[/quote] Sell price of crc (Costa Rica Colones) is always higher. https://gee.bccr.fi.cr/indicadoresecono ... dro=%20400 I keep my Costa Rica planned expenditures in these two accounts and just withdraw colones from any ATM and always get the higher (sell) rate. I don't interact with any of the banks here except using their ATM's. |
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| Author: | Zeos [ Fri Aug 26, 2022 1:55 pm ] |
| Post subject: | Re: Dollar Headed South |
Netgems wrote: Get a Schwab or Capital One 360 account, I get full crc sell price and all fees paid when withdrawing colones at atm's here. Buying CRC but getting the sell price... I'm confused. Usually if you buy you get a few less colones than the mid market rate, and when you reverse that and sell your colones it takes more to buy the USD. Unless you are referring to the selling and buying of the US dollar..?[/quote] Sell price of crc (Costa Rica Colones) is always higher. https://gee.bccr.fi.cr/indicadoresecono ... dro=%20400 I keep my Costa Rica planned expenditures in these two accounts and just withdraw colones from any ATM and always get the higher (sell) rate. I don't interact with any of the banks here except using their ATM's.[/quote] That's great. I see the rates on the linked site, and that makes sense. If you are selling colones and buying dollars it takes more colones to buy a dollar than the other way around. If you can buy colones (when you change dollars into colones) for the sell rate you are doing very very good. |
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| Author: | Ilv4play [ Fri Aug 26, 2022 9:53 pm ] |
| Post subject: | Re: Dollar Headed South |
Best place to exchange I have found is at Pricemart. Always over what the rate on XE.com is. I always try and buy just over a X00.00 amount so I get 90+ dollars exchanged at the higher rate. Not good if you need more than that but if you are shopping for household stuff and can pay in US you get more. |
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| Author: | Isra123 [ Sat Aug 27, 2022 12:34 pm ] |
| Post subject: | Re: Dollar Headed South |
In 2019 when I went to the ATM in the INS building the BCR ATM would not let me change more than $200 to colones per day. Is it the same way today ? |
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