Mexico cd rate of 8.25% anyone biting?

[Jerrad Shepherd]

I see the current cd rates are around 8.25% in Mexico. That coupled with the low cost of living would make it really attractive in my mind for a place to retire early. I think a good trial run would be to move $200,000 or so into an account and try it out at first or course. Have any or you thought about doing this? I realize there would be fees and such to get the currency back into dollars if need be though.

[Steve Vaughan]

The exchange rate risk could be huge. Bank risk, too. Do they have FDIC-like deposit insurance there?

Hate to see ya change your pesos to USD a year from now and find out you're down 14%. Maybe start with less than $200k.  

Interesting idea, though!