Money Exchange Arbitrage(Dollar and Mexican Peso)

[socaldude]

So back when I was in college(studied finance) I used to supplement my income with currency exchange arbitrage. How? Simple. I would go to the money exchange houses(Casa de cambios) by the border and buy pesos and then run into Mexico and buy dollars.

Of course only if the buy price for pesos in the U.S was higher than the sell price for dollars in Mexico(wasn't everyday, but would happen at least once a week usually on a Monday or Tuesday). I used to average about a 3%-5% return per trip. I used to do it with about $4-5k. Whats 3% of $5k? $150. Do two trips=$300. Do three? $450. Not bad for being some college kid nobody wanted to hire.

A few months back the peso hit 22. I knew it was undervalued. Now its at 17.8. Imagine if you would have invested some money.

Anybody else here mess around with the peso?

 

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[evega105]

Hello I want to do that as well, have you figured out a better way to do this? I've been trying to do this with crypto debit cards but the fees kill the profit.