Exchange rate stupid question

[Roberto]

I have a guy cutting palms and he quoted aprice in dollars. I want to pay in pesos. Which posted rate do I use so he gets the equivalent of the dollar amount he asked for in pesos, the 'buy' or 'sell'? For some reason I cannot get my brain to work on this.

 

[lagrimas85]

I have a guy cutting palms and he quoted aprice in dollars. I want to pay in pesos. Which posted rate do I use so he gets the equivalent of the dollar amount he asked for in pesos, the 'buy' or 'sell'? For some reason I cannot get my brain to work on this.

Roberto, if you are buying dollars its the high number, selling dollars is the low number. You would use the sell dollars price.

 

[Roberto]

Roberto, if you are buying dollars its the high number, selling dollars is the low number. You would use the sell dollars price.

Thanks Carnac. I did also make the mistake of paying him some up front but he's working at it now so we will see. No more dough till more work is done.

 

[lagrimas85]

Thanks Carnac. I did also make the mistake of paying him some up front but he's working at it now so we will see. No more dough till more work is done.[/QUOT
i always knew you were a pretty fart smeller, oops. I meant pretty smart fellar.

 

[Wood Spinner]

Easy way might be to pay him as he works. Job 1/3 done at end of day pay him 1/3. One way to consider the rate is to look at posted PEMEX rate. 12.00 pesos for one dollar seems to be the most consistent. Do not be a cheap Gringo, ask the worker for a rate of exchange and if seems fair pay that amount. I am not down there but I don't think that 13.00 peso to dollar is out of line. I am sure someone else will chime in .

 

[playaperro]

Don't forget gas & trip charge, workers comp, Iva, its always 10 to one exchange in personal service.

 

[Roberto]

We agreed on 12.5. It's very common for someone to quote a price here then go for aditional $$ as the job progresses. I got something in writing with this guy, he speaks perfect english and has worked in the US, so he understands how it goes. I have to say he is a hard worker and actually rakes up after himself! He took out a fairly large tree with a machete, took most of a day for a 1 hour job with a chain saw, not a saw in sight. Said he has a chain saw but the blades are too expensive.