currency question: Mexico

[macman2790]

I'm going to cozumel, mexico tomorrow and i'm from the US. I was wondering if it is better to use US dollars or pesos for the best deal. I know the US dollar is widely accepted, but im thinking pesos is a much better value since i might get more because of the exchange rate.

thanks.

 

[it5five]

Use US dollars. You'll just end up paying more pesos than dollars if you use them. Especially in a tourist-y area like cozumel, you're much better off just using your US dollars.

 

[xsedrinam]

The exchange rate for Mexican Pesos to the U.S. Dollar has fluctuated since March of this year, from 10.775 lowest (May 25) to highest @11.1846 (Mar 1), so it's considerably lower at the present.

If you're wanting to spend the most Pesos for your dollars, look for a good exchange rate from a "Casa de Cambio" or Bank, but avoid exchanging dollars at the airport, or at a hotel as they tend to offer a considerably lower exchange. If you have friends, they should be able to help you exchange dollars at the best possible rate.

My opinion, but I'd look to make a good exchange (dollars for Pesos) and go that route. If you use US$ for spending (shopping, taxis, restaurants, recreation, etc.), you're sure to get change back in pesos, but at inconsistent rates and you could take a beating unless you make a calculated exchange with a reputable person or place.

One more thing though. You could get better deals where there's bartering by offering to pay in dollars.

Que le vaya bien.

 

[it5five]

If you use US$ for spending (shopping, taxis, restaurants, recreation, etc.), you're sure to get change back in pesos, but at inconsistent rates and you could take a beating unless you make a calculated exchange with a reputable person or place.

One more thing though. You could get better deals where there's bartering by offering to pay in dollars.

Que le vaya bien.

US Dollars are so widely used in tourist areas like Cozumel that he will likely get back US Dollars for change. Whenever my family went to Puerto Penasco they would use US dollars for shopping and restaurants, and they would get US dollars in change.

It is true that you can get better deals if you're paying in US dollars when bartering.

 

[macman2790]

im thinking that i should use US dollars now, and i remember negotiating with the people there was easy a while back when my parents were using US dollars.
thanks