Life´s good, have another Tecate. Buy yourself a keg for that matter, at the current peso to U.S. dollar exchange rate of 15 plus to one, you can afford it. And maybe now you can afford that dream to live on the Peninsula. How long will the good times last? Your guess is most likely much better than mine but here is some basic information.
The last I heard of the exchange rate was when I wrote a feature story a few months back and called it a ´whopping´ 13 (pesos) to 1 (USD) - now what should it be called at 15 to 1... unbelievable? That's a bit how I felt when I did a quick check online this a.m. realizing I needed to update my relocation guide as it seems to be only increasing, not falling back to the approximate 11 or 10 peso to 1 it was for years prior.
According to this online graph at X-rates.com the current spike occurred in February - rising a peso from a January rate of 14 to 1 to the current 15 to 1. The increase to the current highs began in October.
If I was living there at present time (currently traveling abroad) I would simply be giddy. Living on a budget becomes much more fun when you get an additional monthly $200 USD or so. I would imagine those with the means and desire to buy Baja real estate are enjoying the current economic climate as well.
And again, how long is this current situation going to hold? Here is one online source - Financial Forcast Center, LLC - with predictions up to September, 2009. They guess in six months time the rate will return to approximately 13 (peso) to the USD. Still, an amazing value for those wanting to Go Baja.
Molly, author of Viva La Baja! Relocation Guide to the Baja California Peninsula, available to order at www.vivalabaja.com.
Tuesday, March 10, 2009
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