Yeah. If you want to go visit Mexico as an American, or to buy goods from Mexico, it now takes ~20% more dollars to get the same amount of stuff. Most Americans haven’t noticed because the numbers on their investment accounts keep going up (or they don’t have investment accounts), but we are significantly poorer now than we were a year ago because even if you have more dollars (and many people do not), the interest you’ve gotten on your portfolio is less than the larger amount of dollars required to obtain goods and services from abroad.
I may be something of a pesophile myself after looking at the value of the dollar against the peso over the past year:
Source: https://www.wsj.com/market-data/quotes/fx/USDMXN/
i’m financially illiterate; does this mean that the dollar is losing strength against the peso?
Yeah. If you want to go visit Mexico as an American, or to buy goods from Mexico, it now takes ~20% more dollars to get the same amount of stuff. Most Americans haven’t noticed because the numbers on their investment accounts keep going up (or they don’t have investment accounts), but we are significantly poorer now than we were a year ago because even if you have more dollars (and many people do not), the interest you’ve gotten on your portfolio is less than the larger amount of dollars required to obtain goods and services from abroad.
i plan on retiring there.
i guess this means that i have to make alternate plans. lol