Pesos and Protests

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VHRA
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Re: Pesos and Protests

Post by VHRA » Fri Nov 29, 2019 12:58 pm

From my experience XE has always been the closest for most currencies. Volumes must be very small on a lot of the platforms because these seems like an arbers dream to me.

lost gringo
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Re: Pesos and Protests

Post by lost gringo » Fri Nov 29, 2019 2:21 pm

851 XE.com on the their app now. While their website says 847
WTF
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Naolin
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Re: Pesos and Protests

Post by Naolin » Fri Nov 29, 2019 3:01 pm

41southchile wrote:
Fri Nov 29, 2019 9:14 am
Anyone able to explain why XE and the like continue to show the dollar going up, to 839 last check.
While emol is saying it sank, sank in their vocab means it gave up the previous days gains, 20 odd pesos. ?????
ThisIsReallyComplicated posted a good explanation several pages back:
thisisreallycomplicated wrote:
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?
XE states on its home page (right under where you type in what how much/what currency you want to trade) that their information reflects live mid-market rates and are for informative purposes only, they are not rates available to consumers. If you click on their link, it will take you to their FAQ page with a quick explanation.

I have my own complaints about Morningstar's information not always being accurate (Google pulls their information from them), but at the time I wasn't using their information for foreign currency markets.

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RuneTheChookcha
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Re: Pesos and Protests

Post by RuneTheChookcha » Fri Nov 29, 2019 3:02 pm

Screenshot 2019-11-29 15-00-57.jpg
Screenshot 2019-11-29 15-00-57.jpg (32.98 KiB) Viewed 438 times
This is a 12-hour chart for today, last updated 15:00.

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RuneTheChookcha
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Re: Pesos and Protests

Post by RuneTheChookcha » Fri Nov 29, 2019 3:06 pm

Screenshot 2019-11-29 15-05-00.jpg
And this is a weekly one, as of 15:05.

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41southchile
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Re: Pesos and Protests

Post by 41southchile » Fri Nov 29, 2019 3:19 pm

Naolin wrote:
Fri Nov 29, 2019 3:01 pm
41southchile wrote:
Fri Nov 29, 2019 9:14 am
Anyone able to explain why XE and the like continue to show the dollar going up, to 839 last check.
While emol is saying it sank, sank in their vocab means it gave up the previous days gains, 20 odd pesos. ?????
ThisIsReallyComplicated posted a good explanation several pages back:
thisisreallycomplicated wrote:
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?
XE states on its home page (right under where you type in what how much/what currency you want to trade) that their information reflects live mid-market rates and are for informative purposes only, they are not rates available to consumers. If you click on their link, it will take you to their FAQ page with a quick explanation.

I have my own complaints about Morningstar's information not always being accurate (Google pulls their information from them), but at the time I wasn't using their information for foreign currency markets.
Yeah I made the mistake a couple weeks ago relying only on XE, but now appears even checking with multiple sources it's still not close to what the official media is showing.
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

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eeuunikkeiexpat
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Re: Pesos and Protests

Post by eeuunikkeiexpat » Fri Nov 29, 2019 3:22 pm

Screen Shot 2019-11-29 at 3.20.29 PM.jpg
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the other is to refuse to believe what is true.

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41southchile
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Re: Pesos and Protests

Post by 41southchile » Fri Nov 29, 2019 3:28 pm

According to official media , its saying it closed at 809.
They trying to paint it as a steep drop, assuming that IS actually the rate and the others are trading too small amounts today to matter , it's still 809 after the announcement of the largest ever intervention in Chile. I still not selling dollars.
https://www.emol.com/noticias/Economia/ ... dolar.html
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

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RuneTheChookcha
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Re: Pesos and Protests

Post by RuneTheChookcha » Fri Nov 29, 2019 3:37 pm

Screenshot 2019-11-29 15-35-30.jpg

Jamers41
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Re: Pesos and Protests

Post by Jamers41 » Fri Nov 29, 2019 3:56 pm

41southchile wrote:
Fri Nov 29, 2019 3:28 pm
According to official media , its saying it closed at 809.
They trying to paint it as a steep drop, assuming that IS actually the rate and the others are trading too small amounts today to matter , it's still 809 after the announcement of the largest ever intervention in Chile. I still not selling dollars.
https://www.emol.com/noticias/Economia/ ... dolar.html
I have always paid attention to Bloomberg finance, which says it closed today at 809.46 (falling 18.9 from yesterday's close, which was at 828.36). While I don't have any really strong reasons for trusting Bloomberg in particular, I have noticed that the rate they show at any given time is almost always between the buy/sell rates at exchange houses here, so it's reasonable to think that their rate is either accurate or really close.

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Re: Pesos and Protests

Post by papageno » Fri Nov 29, 2019 4:28 pm

And Transferwise is almost the lowest of the bunch < NO EMAIL > 805. Should have paid my rent yesterday...

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Re: Pesos and Protests

Post by lost gringo » Fri Nov 29, 2019 4:43 pm

papageno wrote:
Fri Nov 29, 2019 4:28 pm
And Transferwise is almost the lowest of the bunch < NO EMAIL > 805. Should have paid my rent yesterday...
Before all the manifestations and "peaceful" protests, Transferwise used XE.com for rates. Transferwise is currently using Reuters UK for their exchange rate source as it now says on their website.
https://uk.reuters.com/quote/USDCLP
Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.
allegedly said by Mark Twain

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