Currency Exchange??

[Chili Pepper]

We'll be in Nuevo Vallarta in less than two weeks.

My questions are: Do I need to exchange US$ for Pesos before I get to Mexico? Is there a need to carry pesos at all?

I've been to other countries before and I've usually exchanged my US$ into the foreign currency before I leave the US, but I've never been to Mexico (except for a few hours spent in Tijuana ). My US$ were good on my recent trip to Aruba, so I don't want to exchange if I don't have to. I'll be using my credit card that has no exchange fee wherever I can use Visa.

Just some experienced advice needed ....

 

[x3 skier]

Used to be $1 was 10 Pesos so it was sort of interchangeable. Now its around 13-14 pesos and bouncing around. Still semi interchangeable but just recognize what is the exchange rate they are offering. Best bet is to get some pesos at a bank ATM for small transactions and use your credit card for the rest.

Cheers

 

[Karen G]

Used to be $1 was 100 Peasos so it was sort of interchangeable. Now its around 130-140 pesos and bouncing around.

Not exactly . . . this is today's rate according to the currency exchange online:

1.00 USD = 13.0411 MXN
United States Dollars Mexico Pesos
1 USD = 13.0411 MXN 1 MXN = 0.0766805 USD

I've found that the ATM's give a good rate, but you also have to consider what your bank may charge for an international transaction. Most places in Mexican tourist destinations will happily take U.S. money, but the exchange rate they give may not be the same as the bank's.

 

[x3 skier]

You are right, I corrected the amount. One too many zeros.

Cheers

 

[pammex]

In most instances you will get a better exchange rate in Mexico. So if you wish to change dollars which you should as you'll get more right now per dollar do so in Mexico at either an ATM, bank in Mexico, or a cambio. ( exchange house).

 

[BradC]

I've always found ATMs to be the best source of foreign currency (and usually at the best rate). I think I've found at least one in every Mexican airport I've been to, so I never bother to exchange cash ahead of time.

Then again, we travel to Mexico often, so I also usually have around 300 pesos leftover from our last trip that I bring along (just enough for cab fare, just in case the airport ATM isn't working).