Only Pesos in Mexico now

[CWcruisers]

I told the cabi it was 60 pesos (about $4.75), he said he wanted usd.

 

 

It's probably because they are on fixed prices. The cab drivers have also been asking for raises, but have not been successful in getting them due to the economic crisis in Mexico. I just hand them pesos and it's been no problem.

[Bookbug53]

I don't believe this is true, or at least is not being enforced in Cozumel.

 

 

According to that article, the limits are only on US cash deposits from Mexican merchants. No mention of a $100 per transaction limit. Maybe some merchants imposed that somewere so they would no collect too much cash.

 

It's really good they are trying to do something about the big narco trafficers there.

 

I have no idea where the $100 limit came in. It may be some of the confusion with the new law, but it is good to see Mexico take hard stances on the drug cartels. They really are trying to clean up their image.

 

www.hacienda.gob.mx (this site in in spanish)

 

 

http://www.shcp.gob.mx/documentos_recientes_bliblioteca/Comunicado%20069-2010%20medidas%20dolares.pdf (use google translator)

 

English translation of measures put into place:

 

Mexico, D. F., September 12, 2010

ENTRY INTO FORCE OF OPERATIONS MEASURES

DOLLARS IN CASH FOR PEOPLE MORALES

· They are part of the strategy promoted by the Federal Government

combat money laundering

· start tomorrow for corporations at the end of the transition period of 90 days

· It created the figure of foreign exchange correspondent banking in order to give continuity to the

economic processes in areas which could have an impact on the extent

· Expanded the existing banking infrastructure in windows, ATMs,

point of sale terminals and exchange correspondents 1.196

The Ministry of Finance announced on 16 June 2010 measures

regulate transactions involving the arrival of United States dollars of America

cash, which began to individuals on June 21, 2010 and tomorrow

come into operation for corporations, once the transition period of 90 days has

completed.

In recent years, banks have had a significant increase in the amount of

cash dollars received through the formal economy, generating surpluses which

origin is difficult to identify. With this background and in addition to a series of

actions since 2004 have been implemented, the Ministry of Finance

Public devised a set of measures to regularize the acceptance policies dollars

effective banking institutions operating in the country.

These measures are part of a strategy to strengthen the scheme laundering prevention

money and finance terrorism, to maintain simultaneous operation of the

economic sectors that need dollars in cash daily.

The measures apply to transactions involving cash inflow of dollars into the system,

ie, purchases of dollars in cash by the banks, receptions

deposits or receipts of payment of service credits and payment in that currency. Remain without restricting the sale of dollars by banking institutions to the general public and the purchase and sale of dollars by any means other than cash and other currencies, foreign cash.

These measures provide that:

· Individuals who are depositors of the institution shall carry out these

operations up to a total of $ 4.000 per month.

· Individuals non-account holders of the institution and national resident

(Domestic users) may carry out these operations until the amount of $ 300

per day and accumulated $ 1,500 per month.

· Individuals non-account holders of the institution and who are foreigners (users

foreign) may exchange dollars for pesos in cash to banks by $ 1.500

per month.

· In the case of legal entities, banks may perform the operations indicated only

with those operating in the border, Baja California and Baja California Sur, as well as areas where economically justified to make cash transactions in

United States dollars, in which case the limit is $ 7,000 a month.

Recognizing the concern that if the territory corresponding to the fringe area

northern border, Baja California and Baja California Sur and in areas which are economically justify holding cash transactions dollars U.S., the

measures would have a negative impact on economic activity that takes place in this currency, the conducted a detailed analysis of their operations in cash. Derived from the analysis, and in order to ensure continuity of economic processes, created the figure of exchange correspondent banking.

Under the figure of foreign exchange correspondent banking, legal persons and natural persons, business operating in the northern border areas or in accordance with criteria established by the SHCP is justified from the economic point of view the realization of cash transactions in dollars, may make purchases of dollars in cash tied to sales up to $ 100 per transaction, the name and on behalf of an institution bank. These operations do not count toward the limit of $ 7,000 monthly bank deposits.

It also enables hotels and commercial establishments engaged in selling products

Free tax known as "Duty-Free" to carry out exchange services

foreign exchange requirements similar to those established for individuals non-account holders a banking institution.

With these schemes, ensures continuity in sales in this currency, safeguarding

simultaneously preventing money laundering by requiring that the exchange operation is performed for the acquisition of a product and submit it to a reasonable limit according to operation of facilities.

Additionally, we worked with the banking institutions, in order that they

complement the existing banking infrastructure in the country, particularly in the area northern border, Baja California and Baja California Sur and in areas where flow is justified significant dollars in cash, in order to ensure adequate attention to the possible increase demand for exchange dollars for pesos in cash. These amendments provide for the following points:

· 10% are windows fitted out to serve both bank depositors and nocuentahabientes engaged in cash transactions, according to the limits

established.

· were installed 938 ATMs and approximately 17,000 POS terminals in country.

· To date, six banks have been allowed to carry out the

buying dollars in cash under the guise of correspondents exchange through 1.196 individuals and corporations with business establishments along with the

area north of the border, Baja California, Baja California Sur and in areas where justify a significant flow of dollars in cash.

With the implementation of these measures, ensures continuity in the operation of legitimate purchase of dollars in cash from individuals and corporations, without showing

affected their economic interests. Through these measures to regulate the operations dollars in cash, the country's financial authorities reaffirm their commitment to development

an orderly financial system, in protecting the interests of the economy as a whole and

general population.

 

 

 

I think the Mexican government may be the reliable source someone wanted. They will take american dollars they have just imposed a limit on how much at a time. Though there is no limit on the number of transaction you may make. Most purchases I make in cash are less than that so it will not effect me nor most other cruisers while in port. It is their right to impose restrictions. I am sure most American businesses would not even consider taking a peso for a transaction. In Washington, DC one time a clerk refused to take a Canadian quarter I mistakenly handed her though here in Maine they are commonplace and the coins routinely change hands. Canadian bills are another matter and discounted immediately. Our Canadian neighbors understand this and have no issues with following our rules.

[elcuchio24]

It's be a cold day in Coz when venders stop grabbing greenbacks. Let me know when it happens. I'll bring by hockey skates and do figured 8's around the ship......

[elcuchio24]

www.hacienda.gob.mx (this site in in spanish)

 

 

http://www.shcp.gob.mx/documentos_recientes_bliblioteca/Comunicado%20069-2010%20medidas%20dolares.pdf (use google translator)

 

English translation of measures put into place:

 

Mexico, D. F., September 12, 2010

ENTRY INTO FORCE OF OPERATIONS MEASURES

DOLLARS IN CASH FOR PEOPLE MORALES

· They are part of the strategy promoted by the Federal Government

combat money laundering

· start tomorrow for corporations at the end of the transition period of 90 days

· It created the figure of foreign exchange correspondent banking in order to give continuity to the

economic processes in areas which could have an impact on the extent

· Expanded the existing banking infrastructure in windows, ATMs,

point of sale terminals and exchange correspondents 1.196

The Ministry of Finance announced on 16 June 2010 measures

regulate transactions involving the arrival of United States dollars of America

cash, which began to individuals on June 21, 2010 and tomorrow

come into operation for corporations, once the transition period of 90 days has

completed.

In recent years, banks have had a significant increase in the amount of

cash dollars received through the formal economy, generating surpluses which

origin is difficult to identify. With this background and in addition to a series of

actions since 2004 have been implemented, the Ministry of Finance

Public devised a set of measures to regularize the acceptance policies dollars

effective banking institutions operating in the country.

These measures are part of a strategy to strengthen the scheme laundering prevention

money and finance terrorism, to maintain simultaneous operation of the

economic sectors that need dollars in cash daily.

The measures apply to transactions involving cash inflow of dollars into the system,

ie, purchases of dollars in cash by the banks, receptions

deposits or receipts of payment of service credits and payment in that currency. Remain without restricting the sale of dollars by banking institutions to the general public and the purchase and sale of dollars by any means other than cash and other currencies, foreign cash.

These measures provide that:

· Individuals who are depositors of the institution shall carry out these

operations up to a total of $ 4.000 per month.

· Individuals non-account holders of the institution and national resident

(Domestic users) may carry out these operations until the amount of $ 300

per day and accumulated $ 1,500 per month.

· Individuals non-account holders of the institution and who are foreigners (users

foreign) may exchange dollars for pesos in cash to banks by $ 1.500

per month.

· In the case of legal entities, banks may perform the operations indicated only

with those operating in the border, Baja California and Baja California Sur, as well as areas where economically justified to make cash transactions in

United States dollars, in which case the limit is $ 7,000 a month.

Recognizing the concern that if the territory corresponding to the fringe area

northern border, Baja California and Baja California Sur and in areas which are economically justify holding cash transactions dollars U.S., the

measures would have a negative impact on economic activity that takes place in this currency, the conducted a detailed analysis of their operations in cash. Derived from the analysis, and in order to ensure continuity of economic processes, created the figure of exchange correspondent banking.

Under the figure of foreign exchange correspondent banking, legal persons and natural persons, business operating in the northern border areas or in accordance with criteria established by the SHCP is justified from the economic point of view the realization of cash transactions in dollars, may make purchases of dollars in cash tied to sales up to $ 100 per transaction, the name and on behalf of an institution bank. These operations do not count toward the limit of $ 7,000 monthly bank deposits.

It also enables hotels and commercial establishments engaged in selling products

Free tax known as "Duty-Free" to carry out exchange services

foreign exchange requirements similar to those established for individuals non-account holders a banking institution.

With these schemes, ensures continuity in sales in this currency, safeguarding

simultaneously preventing money laundering by requiring that the exchange operation is performed for the acquisition of a product and submit it to a reasonable limit according to operation of facilities.

Additionally, we worked with the banking institutions, in order that they

complement the existing banking infrastructure in the country, particularly in the area northern border, Baja California and Baja California Sur and in areas where flow is justified significant dollars in cash, in order to ensure adequate attention to the possible increase demand for exchange dollars for pesos in cash. These amendments provide for the following points:

· 10% are windows fitted out to serve both bank depositors and nocuentahabientes engaged in cash transactions, according to the limits

established.

· were installed 938 ATMs and approximately 17,000 POS terminals in country.

· To date, six banks have been allowed to carry out the

buying dollars in cash under the guise of correspondents exchange through 1.196 individuals and corporations with business establishments along with the

area north of the border, Baja California, Baja California Sur and in areas where justify a significant flow of dollars in cash.

With the implementation of these measures, ensures continuity in the operation of legitimate purchase of dollars in cash from individuals and corporations, without showing

affected their economic interests. Through these measures to regulate the operations dollars in cash, the country's financial authorities reaffirm their commitment to development

an orderly financial system, in protecting the interests of the economy as a whole and

general population.

 

 

 

I think the Mexican government may be the reliable source someone wanted. They will take american dollars they have just imposed a limit on how much at a time. Though there is no limit on the number of transaction you may make. Most purchases I make in cash are less than that so it will not effect me nor most other cruisers while in port. It is their right to impose restrictions. I am sure most American businesses would not even consider taking a peso for a transaction. In Washington, DC one time a clerk refused to take a Canadian quarter I mistakenly handed her though here in Maine they are commonplace and the coins routinely change hands. Canadian bills are another matter and discounted immediately. Our Canadian neighbors understand this and have no issues with following our rules.

 

 

On oen of the other threads on this topic someone said- 'why should they take our money, no one in the US is going to accept mexican or canadian money!" I told them that Maine sure does! Discount it with the exchange rate and bring it on! I guess Maine is the exception with allot of things!

[Bookbug53]

It's be a cold day in Coz when venders stop grabbing greenbacks. Let me know when it happens. I'll bring by hockey skates and do figured 8's around the ship......

 

 

Can anyone realize that this has nothing to do with them not taking american dollars? :confused: There is just a limit on how much they will be able to take at one time.

[Bookbug53]

On oen of the other threads on this topic someone said- 'why should they take our money, no one in the US is going to accept mexican or canadian money!" I told them that Maine sure does! Discount it with the exchange rate and bring it on! I guess Maine is the exception with allot of things!

 

 

Common sense? :p

[elcuchio24]

Can anyone realize that this has nothing to do with them not taking american dollars? :confused: There is just a limit on how much they will be able to take at one time.

 

Sorry. I say we settle this with a snowball fight down by the dock in Coz. Last one there buys the hot co-co!:)

[elcuchio24]

Common sense? :p

 

Exactly!;)