Peso blues

Eek! (from www.xe.com)


The Mexican peso has been at record lows against the dollar recently, according to the News. Many factors, such as the world economic crisis, unemployment, imports and exports to the U.S. and inflation affect the exchange rate.

“The Mexican currency has weakened 32 percent over the past six months, the biggest decline among the world's major currencies,” the News says.

I’m working and getting paid in pesos, but I pay my credit cards, student loans and car in dollars, so I cringe a little whenever I see the peso becoming worth less and less. Almost every bank posts the exchange rate in big, arbitrary digits on their windows, and since I came here in June those numbers have gotten higher and higher. Back in August you could buy a dollar with 9.5 pesos, but now it takes about 15.5. In other words, I’d have to work 88 hours more per month to earn what I made back in August. Ouch.