Current Rates of Interest for peso CD for period of 12 ,24 and 36 months

[swooperman]

Paying 16% on one year term paid monthly on large amounts.

The Lyon family owns Presidente Beer Company.

So they pay me pesos I buy beer.

That is why I feel the money is safe with them.

[abdullah]

Hmmm . . . Any one has experience with commercial papers ? . . . Really need to know how safe those are . . . And what about the u.s dollar exchange rate against peso . . . Banks post it to be 34 or 35 pesos on their websites , but on blogs n other places its been regularly quoted to be upto 42 pesos a dollar . . Any views ? . . .

[catcherintherye]

but on blogs n other places its been regularly quoted to be upto 42 pesos a dollar . . Any views ? . . .

If you can get 42 peso for your dollar I suggest you take it.

The "official" rate at this time is 35.3655. In most instances, you're not going to get anything more than 34-35. I have no idea where one would go to get the exchange you are speaking of.

[Celt202]

42 pesos to a dollar?

I don't think so.

You might get offered that on the street in exchange for cash. You hand over a pile of dollars and receive a pile of pesos and everything appears to be on the level because you've watched the transaction like a hawk.

When you count the pesos you have been given you discover that you have been scammed by the Dominican version of the three card monte and the seller has disappeared.

It's an ancient trick. It's easiest to scam the greedy.

Google three card monte if you're not familiar with the term.

[Tamborista]

Originally Posted by abdullah

Hmmm . . . Any one has experience with commercial papers ? . . . Really need to know how safe those are . . . And what about the u.s dollar exchange rate against peso . . . Banks post it to be 34 or 35 pesos on their websites , but on blogs n other places its been regularly quoted to be upto 42 pesos a dollar . . Any views ? . . .

You are looking at the tasa for Euros, which is 44 right now!

[El Tigre]

How is the interest paid out? Yearly or monthly?

[Tamborista]

Originally Posted by El Tigre

How is the interest paid out? Yearly or monthly?

paid monthly

[abdullah]

Thanx alot guys . . . I really appreciate your feedback . . .

[El Tigre]

Originally Posted by Tamborista

paid monthly

muchas gracias :-)

[Celt202]

The interest on Banco Central certificates must be paid out monthly to a DR bank account.

You don't get the benefit of compounding at the Banco Central rate.