Mexico Travel Be Sure to Swap Your Greenbacks for Pesos When Traveling in Mexico

If you feel safer using your greenbacks to pay for your purchases in Mexico, you're paying a hefty premium for your imagined security.While many stores, restaurants and bars in all but the smallest towns generally accept U.S. currency in payment, you can be sure that little shopkeeper is smiling as you walk out his door!.You just gave him a bonus ? as much as ten percent ? just because you paid in U.S.

dollars.The International Monetary Fund currency exchange rate between the U.S. dollar (USD) and the Mexican Peso (MXN) is about 10.50 pesos to the dollar as of this writing, but that's not what you get from that nice little shopkeeper or sexy waitress.Most establishments set their exchange rates 10% lower than the bank's rate to accommodate natural fluctuations in the currency foreign exchange market.

So, while the bank rate might be 10.50 pesos to the dollar, it's not uncommon for local businesses to give only 9.50 pesos to the dollar.The result: you end up paying 10 percent more for your purchases. If that doesn't sound like much, consider this. If the average traveler to Mexico spends $2,000 USD during a one-week visit, that visitor could be paying an extra $200 USD if everything is paid in dollars.

For reference purposes, the average Mexican worker is lucky to make $100 a week, so the extra $200 you paid would cover the wages of a Mexican worker for two weeks!.The moral of this story? When in Mexico, ALWAYS pay in pesos, and you'll get the cheapest price and save money.

.James Truett, a former Associated Press reporter, is a writer and Internet marketing consultant living in Cabo San Lucas, Mexico.

He is author of the Mexico Travel book, "50 Things You Must Know Before You Travel to Mexico.".

By: James Truett

New York City

Idahos Majestic Landscape Find Adventure Around Every Bend - Travelers visiting Idaho's majestic landscape find plenty of Historic sites and Cultural events to explore.

Vacationers Home CheckList Everything You Should Know BeforeYou Leave - If you are planning on being away from your home for an extended amount of time, it is important that you secure your home.

Looking for Luxury Hotels for Less in Australia - The Commonwealth of Australia is the largest island on earth and the smallest continent.

KANCHANABURI The Perfect Getaway From Bangkok - One of Thailand's premier tourist attractions, Kanchanaburi, lies a mere two hours from the capital.

What to Expect My First Cruise Experience - Some years ago my wife and I decided to take a cruise.


What's UP?

Navigating the Tribeca Film Festival

With more than 200 films and almost as many parties, what to do?
» Read more

Metropolitan Museum of Art

"The Met is a universal museum: every category of art in every known medium from every part of the world during every epoch of recorded time is represented ...
» Read more


This 57,545 seat stadium is home to the New York Yankees, baseball's most successful team.

John F. Kennedy International Airport (JFK)

JFK, in Queens (at the south end of the Van Wyck Expressway), primarily handles international flights.
General Info: 718-244-4444
Parking Info: 718-244-4168

Visitor's centers

Visitor's centers can provide you with free maps and general information about New York.
For information on visiting New York, contact the New York Convention and Visitor's Bureau. You can also call them at 800-NYC-VISIT (U.S. and Canada) or 212/397-8222 (elsewhere). To speak with a multilingual counselor: call 212/484-1222 Monday-Friday, 9am-5pm EST.

© Copyright 2024 York Magazine. All rights reserved.
Unauthorized duplication in part or whole strictly prohibited by international copyright law.