Do I pay in U.S $ or Pesos for taxis & Souvenirs

[Eleni2007]

HI everyone,

We are cruising this Saturday to the Mexican Riviera (Sapphir).. Yippee!

 

My question is do I need to worry about getting pesos, or can I pay for taxis and souvenirs using US dollars????

 

Also, how do I know how to convert everything???

[iamirish]

The current exchange rate is just about 11 pesos to the USD/CAD. US Dollars are widely accepted. No need to exchange to pesos.

 

Tom

[MSN-Travelers]

HI everyone,

We are cruising this Saturday to the Mexican Riviera (Sapphir).. Yippee!

 

My question is do I need to worry about getting pesos, or can I pay for taxis and souvenirs using US dollars????

 

Also, how do I know how to convert everything???

 

The US and Canadian dollar is widely accepted in all of the ports you will stop at. I recommend that cruisers take along a good quantity of singles, fives and tens. Nothing larger than a twenty dollar bill. Do not attempt to spend US coins as they will not be accepted.

 

At home, we carry around twenty dollar bills without giving it any thought, in Mexico that is roughly equivalent to a 200 peso note. The average street/beach vendor or taxi driver may not be able (or willing) to make change. Additionally, do not expect to get US dollars back in change. You may get dollars back if you make a big stink, but don't expect it to happen.

 

The official exchange rate today is roughly 11 pesos to 1 USD. Better restaurants and shops will post the "exchange rate of the day" that they offer near the door. Street/beach/flea market vendors and taxi drivers will offer 10:1 because it is easy to do the math in their heads.

 

They use the "$" sign just like we do. If the price doesn't have USD in it, than it is in pesos. A $15 beer is really a little less than $1.50 USD.

 

Expect to pay slightly more for an item if you use a credit card. Businesses in the US absorb the fees charged by the credit card companies as a normal cost of doing business. Not in Mexico and they will pass that cost on to you.

 

ATM's are everywhere and you may be able to get a better deal on quality merchandise if you head for an ATM, get pesos and pay cash.

 

Enjoy!

[Tgreene]

Let me give my thoughts if you don't mind. If you're particular about your money, the usual conversion rate is about 10.5-11 pesos to 1 us dollar. If you use u.s. dollars to pay for things, they will give you 10-1. Is it a big deal? no, but for me, I spend a week there, it adds up. They accept any us currency. Taxis rates are flat on the dollar. 7,8,5,6 etc no change necessary. Many say you don't need to tip taxis, but I have after an incident. Plus, they put in 12 hour days 7 days a week-- so I do tip.

 

Street vendors accept any currency as well. Just don't think that by paying U.S. dollars you will get more for your money unless you really push it. And i mean really!

 

I guess if you find a good exchange rate some place, go ahead and do it. If you can't find one, use us. currency. Just keep posted on the exchange rate daily. Selling back is always a hear break.

[CowPrincess]

I prefer to use the local currency. Pesos in Mexico, USD in the States, Cdn dollars in Canada. We were able to purchase Pesos thru Royal Bank. I think it is more respectful of the people to whom you are giving the money, to give them the currency they use.

[gomexico]

Respect Mexico and the Mexicans you'll encounter, and use the Peso when you pay for things.

[MSN-Travelers]

Respect Mexico and the Mexicans you'll encounter, and use the Peso when you pay for things.

 

Even if they prefer USD's and make more money on each transaction when get paid in USD's at an exchange rate favorable to them??

[Nancyquilts]

We always need pesos to pay for the local buses. Otherwise, its either/or.

[CowPrincess]

Even if they prefer USD's and make more money on each transaction when get paid in USD's at an exchange rate favorable to them??

 

I'm Canadian, and I've worked in retail in Canada. By taking US $, at whatever rate, we seldom make money on the exchange. Whatever the bank's posted "exchange rate", it is NEVER offered to businesses or people. That's just the rate the bank uses as the basis for whatever rate they offer. Buying or selling US $ always costs money -- the bank charges a premium if they are selling me US $, and charges a premium if I'm depositing US $. Then of course there's that uncompensated time standing IN the bank to exchange US to Cdn.

 

Fortunately for me, I don't have to deal with exchanging US $ into Canadian $ after working 12 hours (or more) a day. Many small vendors and service providers in Mexico work long, long hours. So at the end of the day, if they've rec'd only US $, they then must go somewhere that accepts US $ (at whatever rate they are then charged) to exchange it, OR to purchase the food, gas, etc, that they need.

[rimau]

Just be sure you know if you are being quoted pesos or dollars. I saw one post from someone complaining about spending $70 for a taxis ride and believe he paid $70 dollars for a trip costing 70 pesos because we did the same trip for 70 pesos. Do bring lots of small bills because you often get change in pesos if you cannot give the exact amount. No big deal to me but if you do not come to Mexico often, it can be a pain.