Currency in Mexico?

[Kenny Spunk]

Obviously the Mexican currency is Peso however every dive trip in Playa Del Carmen I have looked at is in US dollars.


Are both currencys accepted over there?

Thanks

 

[cowjazz]

I've never had U.S. dollars turned away. You will probably get pesos as change.

 

[divingjd]

Dollars are widely accepted. Most restaurants price in dollars and pesos, but paying in dollars often does not get you the best price, depending on current exchange rates. I don't know how that works out when you factor in exchanging pounds. You do usually get change in pesos, or sometimes, they don't have change.

 

[mike_s]

Most places have stuff priced in US dollars.

It's pretty common to get your change in Peso's. They'll often "accidentally" give you the change back incorrectly. (meaning they steal from you.)

I've had this happen numerous times. Especially when a resturant bill is in Peso's and you pay them in USD. Have someone in your party that has a purse keep a cheap pocket calculator in it. Pull it out and you can do the conversion quickly. It's amazing that a couple times when we pulled out the calculator at dinner (at places that were in Peso's) that they often came back to the table and took the check back and said they made a mistake and brought the wrong change back with this check and to let them fix it quickly. (meaning they realized they were about to get 'caught' in the act of trying to cheat you.)

you can also ask them what "exchange rate" they offer at the store/restaurant. You can expect it to not be as good as it is at banks, etc, as they are making a little money on the exchange.

Paying with your credit card offers a pretty decent exchange rate since it's done by the bank card company. It will always be charged in Peso's though intead of dollars most of the time. So if you're at a store and you agree on a price in US dollars and then they charge you in peso's, make sure they computed your charge at an "exceptable rate" that is comparable in pesos. they might try to rip you off here also. Right now the USD equals about 11 pesos.

BTW... I've yet to visit a Caribbean location that does not accept the US dollar. It's even pretty wide spread in Cuba.


oh... one more thing. No matter where you are in the caribbean, you typically get coin change in the local currency even if they give your paper money back in USD. While this might cost you a few cents, it's under a buck and it's just pretty widely accepted and not haggled over. Just think of this as 'neat' to get the local coins and then give them to kids of friends back home as small gifts. Kids just love getting coins from other places.

 

[divingjd]

By the way, keep in mind that the dollar sign ($) is the same symbol used for pesos. If a place in Mexico is posting prices in US dollars, they usually write it as "$10.00 USD." If it uses the dollar/peso sign and doesn't say "USD" it may be a good idea to ask.

 

[pipedope]

I always found better prices and service by staying out of tourist oriented places.

Of course you need to operate in at least some spanish.

 

[Diver Lori]

I've gone in December for the last 5 years running and am booked again for December 2006. I've found the need for pesos to be a non-issue. USD excepted everywhere. (Cancun-Akumal-Tulum)

For the last 5 years the conversion rate on the street has been 10 pesos to the dollar. For quick math for me it is easiest to just think of a peso as a dime.

 

[scubadobadoo]

All Mexican currrency MUST be sent to my pay pal account now and I will exchange it for you into scuba gear for myself. This will surely please your friends and family! Have a great trip!

 

[Rafael]

My advice is use your Credit card or your debit card, you can get pesos out of any ATM in case you want cash, paying in dollars is a problem the most of the places buy your bucks very cheap, but i try everything from traveler checks, to exchange my dollars in a down town bank and ALWAYS get less money, best rate is always been my CC and debit.

 

[2dive.com]

Nobody in Mexico minds exchanging your dollars at 10 mn (right now its 11.50) they run to the bank the next day and make a little more money off the gringo.
When you get to Mexico take what you are sure you are going to spend and exchange it at the bank you will get the best rate there. (I am getting the best rates at HSBC). It may not seem like much per dollar but throughout the entire length of your stay it can add up to a free dive or a really nice meal. Why give your money away? Pennies make dollars.
Take care,
Ken