Exchange Rate in México
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When traveling to Mexico there are important considerations to keep in mind. In order to make your trip as relaxing and stress-free as possible it is wise to acquaint yourself with local requirements, rules, and customs to avoid any unnecessary delays or problems while on vacation.
The following is a list of things to help you plan a trip to Mexico.
The currency in Mexico is the peso and the universal currency sign ($)is used to indicate pesos it may be followed by “M/N” which indicates “Moneda National” or National Currency, while “USD” indicates US Dollars.
To check the current exchange rate – please hit our link to: Please note the 2 different exchange rates:
- Compra: meaning the Buy rate (if you have pesos and want to buy Dollars) will be higher as the bank has a service charge.
- Venta: meaning the sell rate (if you have Dollars and want to change for Pesos) will be lower.
Exchange rates are usually best at the bank, slightly less in the Money Exchanges, called Casas de Cambio, retailers and restaurants even less. Most of the major banks are located in the Old Town area within walking distance of the Main Plaza and Los Muertos Beach.
ATM’S
Bilingual, easy to use and found outside all banks and in many grocery and convenience stores; you can access money directly from your bank account.
Exchange rates may be slightly better then the bank as they work with the Mexico City rate. Normal service charge is approx $2 depending on your bank and accessible 24 hrs/day. Most only allow withdrawals of $300 US dollars per day.
Pesos/Coins
There are 100 centavos/peso. Prices in pesos are denoted as $1 MN (Moneda nacional). Since some coins have such a low value you may not always get exact change. Foreign coins are not accepted or exchangeable.
Dollars
US dollars are accepted almost everywhere, even by taxi drivers. Change will be given in pesos; exchange rate will be significantly lower than the bank or Casas de Cambio.
Tax:
Mexico has a value added tax called IVA of 15% on almost everything. Most prices you see will already include this tax, other times it is charged separately.
Bank Hours
Average is 9 am – 4 pm Monday through Friday, Saturdays 10am – 2p