Dollars or Pesos?

[Pez de Diablo]

I recommend carrying pessos. Though everyone here accepts dollars, you won't get the best exchange rate and you never get change back in dollars.

If you do have dollars and want the best exchange rate go to Chedaraui (local grocery store) located just off of Highway 307 and Constituyentes. They offer the best rate by far.

Check with your bank on ATM fees, but in my experience when you need cash, take out pessos from the ATM. Best exchange rate, easier than travellers cheques and you don't have to carry so much cash.

Dive shops all post in USD, but do take pessos (red flags should go up if they don't) and reputable shops will give a fair exchange rate.

Dennis

 

[Jim Baldwin]

Agree in full with what the other posters have said. Just finished our 14th trip there last week. We as others have found that the average exchange rate at the local restaurants and shops is 10 pesos to the dollar.

What you don't know is that these places will take your US dollars to the local banks and stand in line and exchange them for a rate of 11 plus pesos to the dollar. At HSBC bank last week the exchange rate was 11.05 to 11.25.

If you're buying groceries the Chedraui has an excellent exchange rate and it was running about 11.25 to the dollar. Debit cards are an excellent way to get money from the local ATM. Understand that you will only get pesos back. With the debit card you won't get hit with interest changes like you will with a credit card.

If you take a large amount of cash and want to exchange it you will get a surprise. Because of the new drug/anti terrorism laws that have been enacted you can only exchange up to $2900 US dollars a day.

Jim