miércoles, 23 de mayo de 2012

New economic terms...

The Greek crisis is edging closer to tragedy. In the process, it's coined a few new terms. Amongst them are "bank jog" (a slow-motion run on the banks) and "drachmageddon" (the outcome of substituting the drachma for the Euro).

We're in uncharted territory, which makes investors extremely nervous. Markets reflect that. The average fix peso-dollar exchange rate has depreciated 3.1% this month compared to April. 

Where the peso ends the year depends on what happens in Europe. Could it be $14? Yes. It could also be under $13. If you need to buy or sell pesos, timing will be all-important. Watch the markets and the headlines and time your transactions accordingly.

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