Currency & Exchange
In Mexico, merchants and hotels are no longer allowed to exchange US dollars for pesos, but they will be able to direct you to a near by "Cambio" or "Currency Exchange". There remain several options for gaining Mexican currency, if you have US dollars, including:
- Currency Exchange Businesses - You will usually find a currency exchange business in international airports throughout Mexico. You can identify them by their "Cambio" signage. You will need to present your passport to make a currency exchange. The exchange rate is most often displayed as "Buy" or "Compra", which tells you how many peso's you should receive per dollar exchanged.
- Banks - Not all banks will provide an dollar to peso exchange service, with some requiring you to have an account. Check with your hotel to have them identify the nearest bank who caters to tourists for exchange. Again, you will need a valid US passport to make the exchange.
- ATM Machine - One of the most convenient ways to get pesos is to use an ATM machine that dispenses pesos. You will often get a better exchange rate as well, although you will pay a service fee, as with most ATM's outside your banking network. Please do not accept assistance from non-banking personnel if you need help.
- Credit Card - If you have a credit card, you will find that this provides one of the best exchange rates. Although you won't gain pesos directly, your monthly balance will normally reflect the exchange rate you received on purchases through credit card.
