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Cash in Mexican Riviera

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On 3/14/2019 at 7:33 AM, 1964IceCreamLady said:

Do guides prefer to be tipped in pesos or dollars?

 

Almost everyone prefers dollars, in my experience.

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7 hours ago, scottca075 said:

 

Almost everyone prefers dollars, in my experience.

 

For the most part, the Mexican guides will exchange the dollars you give them into pesos -- after all, they pay their bills in pesos, not dollars.  So I doubt they prefer US dollars.  Of course, the wealthiest guides, who are not living hand to mouth, might prefer dollars for their "in the mattress" stash of cash, because the US dollar is better to cache because of lower inflation.

 

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On ‎5‎/‎3‎/‎2019 at 7:41 AM, scottca075 said:

 

Almost everyone prefers dollars, in my experience.

Why would you think this is true?  The reality is that Mexicans (and we that live in Mexico) generally lose money when we spend US Dollars in Mexico.  Most places frequented by Mexicans do not even want dollars, and if they take them the exchange rate will not be good.   Gringo frequented places do generally take dollars, but most give a less than favorable exchange rate.  When we arrive in Mexico every winter, all of our US Dollars immediately gets locked in the safe and we only use Pesos.  And none of our expat friends use dollars no more then we would use Pesos in the USA.

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15 minutes ago, Hlitner said:

Why would you think this is true? 

 

And none of our expat friends use dollars no more then we would use Pesos in the USA

 

Because it is my experience in the 50+ years I've surfed in Baja and the 30+ years my parents had a home in Puerto Vallarta.

 

No one would accept pesos in the U.S., but in every tourist area I've been in Mexico (excludes Monterey and Mexico City), they accept U.S. dollars. I've even used U.S. currency on the Ensenada toll and gotten change back in U.S. dollars.

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49 minutes ago, scottca075 said:

 

Because it is my experience in the 50+ years I've surfed in Baja and the 30+ years my parents had a home in Puerto Vallarta.

 

No one would accept pesos in the U.S., but in every tourist area I've been in Mexico (excludes Monterey and Mexico City), they accept U.S. dollars. I've even used U.S. currency on the Ensenada toll and gotten change back in U.S. dollars.

I did not say places (especially frequented by gringos) would not accept dollars.  What I said was that they would give you  less than stellar exchange rates.   You will likely lose 10-20% on every transaction as opposed to using Pesos purchased at decent rates (the best rates are from ATMs).  A better alternative to using dollars is to use a credit card (MC or Visa) that has zero foreign exchange fees...and make sure the transaction is done in Pesos.  Just be aware that not every restaurant accepts credit cards.  

 

In PV there are some exceptions to the rule when it comes to bad exchange rates.  Walmart gives a very good rate of exchange...for folks that want to spend their vacation in a Walmart :).  The Cheeky Monkey (and Sea Monkey) sell beer and Margaritas for $1 which is a good deal...even if the margaritas are not the best.  However, if you plan on using the local buses, many drivers will no longer accept dollars and the new electronic cash boxes on many buses only work with Pesos.  My suspicion is that eventually more drivers will again accept dollars but will likely want $1 for a fare that is worth about 60 cents in Pesos.

 

Hank

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I have spent about five years in Puerto Vallarta over the past 20 years and everything that Hank told you is true.   Can you imagine if someone tried paying for items in the U.S. with pesos.   Or a Canadian trying to pay with our money in Mexico.   

 

The currency in Mexico is the peso.

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