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Canadian Cash in Mexico


#1

Huatulco, Las Brias in 3 weeks, wondered if should use Canadian cash or U.S.? Any ideas, thought of getting Mexican Pesos from bank but then I would really be screwed up trying to figure what I am paying for anything.

HELP??


#2

Use Mexican primarily or US. Most shops in tourist areas will have 2 prices one in Pesos one in US dollars. Credit cards are accepted in most tourist areas as well.
Canadian may be accepted in some places but the local currency is always best. The peso is at about 7 cents (retail) to the Canadian dollar so 50 peso notes ~ $3.50, 100 peso ~ $7.00 Canadian. I’ve been buying in Canada before my trip.
There are usually a lot major bank ATMs in Mexico as well that give a good exchange rate.
Buying US $ then converting to pesos usually means losing on conversion twice.


#3

What denominations of pesos do you buy a if 100 pesos is 7.00 Canadian? Sorry for so many questions, but want to get tip money for everyone. Thanks for your help.


#4

Peso notes come in 20 ($1.40 current rate) 50 ($3.50), 100 ($7.00) , 500 ($35.00) and 1000 ($70.00).
I seem to remember a 200 ($14.00) peso note as well, but was only able to get 50, 100 and 500 from the exchange place I used this year. I have a handful of coins left over from a previous trip but I forget what denomination they are.
We found that the 20s and 50s were good for tips. The bartenders are always good for breaking large bills into smaller ones.


#5

I haven’t been to Mexico, but I have been thinking about making a trip sometime. I was wondering how the prices in Pesos compare with the prices in US dollars. In other words, does it work out to a similar exchange rate that a bank would give? For example, one of the US banks shows 100 Peso = $5.72 US.


#6

Usually it’s close to the official rate which varies daily to keep it simple the shop owners usually round up so for example $5.72 they would most likely round to $6. Being Mexico though you should try haggling for a better price especially on higher priced items like jewellery.
This is just for the tourist type places. The regular drug stores, OXXO’s, grocery stores etc. have prices in pesos only.
Credit cards are accepted at most ‘legitimate’ businesses and you will be charged in pesos and get the official exchange that day plus any fees the card and/or your bank may charge. Same for ATMs dispensing pesos then adding the various fees.


#7

Thanks, northernguy. So it looks like there might be a small saving just to take Canadian and convert to MXP, but not all that much, unless I do a lot of shopping.
Sorry I didn’t get back sooner, but I appreciate the information.


#8

Huatulco is very Mexican and not as commercial as most of the other areas, also very Canadian friendly. If you eat outside of the hotel then yes you will need peso’s however, when it comes to shopping you can pay with Canadian; the odd vendor will not take Canadian. If you want to take tours you can also negotiate with Canadian $. We purchase our Peso’s at home here in Canada, but what we do is make up charts that we can quickly refer to.


#9

Well, that was silly. As per Sweetmystery, I would probably be better off getting some MXP before I leave home. I guess I’m too used to Cuba, where you have to exchange after you get there.


#10

Much less hassle getting the MXP in Canada. MXP are readily available at exchange kiosks and even most ‘brick and mortar’ banks will sell them to you as long as you order in advance. Already have 6000 MXP ($420) for our trip will probably get a little more before we leave…13 days and counting.


#11

Taking USD is the easiest way. I suggest only taking a bit of cash to Mexico and use the ATM when needed. You can use the locals ATM for a small fee (usually between 30 and 50 pesos / 2-3 USD) and get this way a better exchange rate. You also reduce the risk of loosing cash.


#12

Use Pesos. I have been to 7 parts of Mexico 25 x . You will get a much better deal from restaurants and taxis as apposed to US$, sometimes up to 30%. Being Canadian ,I would lose exchanging to US here and then lose using US$ in Mexico. Contrary to many Americans beliefs US$ is not king in many countries. I use ICE online ( International Currency Exchange) at home and pick the Pesos up the next day.and / or use a Bank ATM in Mexico( don’t use a free standing generic ATM the user rates can be high and they are easily hacked) or go into the bank itself with your passport. I have never had to order Pesos in advance at a bank( I have never heard that one before)


#13

Yes… you are completly right.


#14

been in Mexico a while ago and used USD, haven’t even asked if i can use Canadian Cash, thanks for answers though as I’m planning to go to Mexico again this summer


#15

I wouldn’t use Canadian $ ( haven’t found any places that take it in Mexico) and wouldn’t use US$ either( refer to my earlier post) I was in Mexico in February and December and I go 1 or 2 times every year. Either get Pesos at home or use a bank ATM or go in a bank in Mexico with debit card and / or cash.that is your best scenarios. Trust me it’s the right move


#16

Many a store owner and especially vendors have taken Canadian money from me in Cancun, Riviera Maya, Playa Del Carmen, Puerto Adventuras, Cabo San Lucas, Mazatlán, Puerto Vallarta, Nuevo Vallarta, Guayabitos, Huatulco and Ixtapa. Mind you I love to shop and barter and try to get out of allot of it by saying I just have Canadian. Granted American dollars are choice in most places in Mexico, but for a Canadian to purchase American money in this market………well that is not very economical.

It does blow me in the more popular Mexican destinations that the store owners tend to quote in American dollars and you really need to be on the ball with the exchange rate or, you will get ripped off.