Originally Posted by
Gaucho100K
All rates are currently quite volatile, and spreads are HUGE. The market will open today at around 1100AM and all the small print of the measures are being announced as I type this post. It is unclear how these measures will affect the Blue Market rate, although many think that the initial very short term impact may be of a softening of the rate and then a continued rise...... very hard to tell at this point. Stay tuned for more news......
BTW, Xoom is currently offering 10,3525 gross of fees/expenses, so depending on how much you trade and how you fund Xoom you effective exchange rate will be approx. 10 pesos per Dollar.
My experience has been quite different. I have changed money at various locations on Florida street, as well as with a "friend of a friend" that is in the business. All four times, the quotes that were given off the "sell" rate whether it was 12.40/11.40 or whatever else. It was explicit -- one was official sale rate and the exchange place would take a cut "commission" which ranged from .20 to .50 off the official "blue dollar" rate.