Pesos and Protests

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tiagoabner
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Re: Pesos and Protests

Post by tiagoabner » Fri Nov 22, 2019 7:40 pm

Transferwise's exchange rate is the one I go with, and they're currently at 799.905.
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Re: Pesos and Protests

Post by admin » Mon Nov 25, 2019 11:56 am

1 USD = 808.740 CLP via xe.com
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Re: Pesos and Protests

Post by papageno » Mon Nov 25, 2019 12:18 pm

admin wrote:
Mon Nov 25, 2019 11:56 am
1 USD = 808.740 CLP via xe.com
Seeing everything between 787 and 820, depending on the source. XE in the 808 range

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Re: Pesos and Protests

Post by Britkid » Mon Nov 25, 2019 3:55 pm

I just had a look on Transferwise and they offered me a guaranteed rate of 1022 to the pound if I sent the money today. The money would be transferred at that rate even if it arrives several days later and the x rates have changed massively by then.

Meanwhile at the same moment Oanda says 1026, xe.com 1058 (but fluctuating between 1055-1060).

This is only the second day I've seen a discrepancy of that size. The previous time xe.com went down the next day to match the oanda rates roughly.

EDIT: The Transferwise rate is a middle rate not a buy or sell rate. They show a middle rate to you and then charge a fee separately.

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Re: Pesos and Protests

Post by lost gringo » Mon Nov 25, 2019 4:13 pm

XE.com $1 usd = 820 clp
Rueters UK $1 usd = 792 clp
Oanda $1 usd = 799 clp
Transferwise $1 usd = 792 clp

So Transferwise is going with the lowest quoted rate. I'm going to check at a casa de cambio and see what they're offering.
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Re: Pesos and Protests

Post by Britkid » Mon Nov 25, 2019 5:23 pm

xe.com has now suddenly put its rates down again to nearer what the others say. same as the other time this happened (15 Nov).

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Re: Pesos and Protests

Post by papageno » Mon Nov 25, 2019 5:27 pm

lost gringo wrote:
Mon Nov 25, 2019 4:13 pm
XE.com $1 usd = 820 clp
Rueters UK $1 usd = 792 clp
Oanda $1 usd = 799 clp
Transferwise $1 usd = 792 clp

So Transferwise is going with the lowest quoted rate. I'm going to check at a casa de cambio and see what they're offering.
So where the BFH is Morningstar getting it's 826???

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Re: Pesos and Protests

Post by eeuunikkeiexpat » Mon Nov 25, 2019 5:35 pm

papageno wrote:
Mon Nov 25, 2019 5:27 pm
lost gringo wrote:
Mon Nov 25, 2019 4:13 pm
XE.com $1 usd = 820 clp
Rueters UK $1 usd = 792 clp
Oanda $1 usd = 799 clp
Transferwise $1 usd = 792 clp

So Transferwise is going with the lowest quoted rate. I'm going to check at a casa de cambio and see what they're offering.
So where the BFH is Morningstar getting it's 826???
A conspiracy to force a huge run on the peso?
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thisisreallycomplicated
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Re: Pesos and Protests

Post by thisisreallycomplicated » Mon Nov 25, 2019 6:15 pm

There isn't just one exchange rate, so the rate you get depends on where you're trading.
https://en.wikipedia.org/wiki/Foreign_e ... rticipants
There is no unified or centrally cleared market for the majority of trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currencies instruments are traded. This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. In practice, the rates are quite close due to arbitrage.
When I checked with XE a while back, they didn't exchange CLP. So I'm guessing they might not be keeping up with all the CLP markets as well as a company that does. Or they might just use a different method to determine a single CLP rate, based on the various markets it's traded in. Anyway, that's my best guess based on my very limited understanding of currency markets.

Also, I'm thinking there aren't a lot of people right now trying to sell USD for CLP. So you might see something like this:
* market 1 - someone is offering to sell 1,000 USD for 800 CLP/USD
* market 2 - someone is offering to sell 100,000,000 USD for 820 CLP/USD

How would you determine a single rate in a case like that?
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gregf
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Re: Pesos and Protests

Post by gregf » Mon Nov 25, 2019 6:27 pm

827! what!

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RuneTheChookcha
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Re: Pesos and Protests

Post by RuneTheChookcha » Mon Nov 25, 2019 7:05 pm

Was following this link starting from the reopening of the fx markets on Sun 18.00 (it was firmly at 800.10 for the previous 48 hours).

https://www.google.com/search?q=usd+clp+rate

It was rising constantly at about 1 clp per hour and is now at 827.40 there.

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Re: Pesos and Protests

Post by papageno » Mon Nov 25, 2019 7:16 pm

RuneTheChookcha wrote:
Mon Nov 25, 2019 7:05 pm
Was following this link starting from the reopening of the fx markets on Sun 18.00 (it was firmly at 800.10 for the previous 48 hours).

https://www.google.com/search?q=usd+clp+rate

It was rising constantly at about 1 clp per hour and is now at 827.40 there.
Right, that's exactly what I was looking at too.

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