Pesos vs Dollars Advice - Fodor's Travel Talk Forums (2024)

FAQs

Is it better to bring pesos or USD to Mexico? ›

That's why, unless you are from the US and don't want to use Pesos due to unfamiliarity, I would always recommend that you use Pesos. The number of British and Canadian visitors I see using US Dollars always surprises me.

You can use US dollars in Puerto Vallarta, they are widely accepted, though the exchange rate may not be favorable. 💱 If you plan to venture out of the main tourist areas, it's best to have enough pesos, Mexico's official currency.

Pesos are generally preferred for tipping in Mexico because they are the local currency, ensuring that recipients can use the tips without needing to exchange them. This eliminates any potential inconvenience or loss in exchange value for the service workers.

It is recommended to exchange only a small amount of money here for immediate expenses and seek alternative options for the rest.

When traveling to Mexico, it's wise to carry a mix of cash and credit cards. Having cash on hand allows you to make purchases from smaller, cash-only businesses and street vendors. Cash also comes in handy in rural areas where credit cards may not be accepted.

Mid-range Travellers. Those with a little more money to spare may find that an average daily budget of $2,400 Mexican Pesos (MXN) is the perfect amount. This will get you a comfortable mid-range hotel room, allow you to travel by taxi, and give you the opportunity to enjoy three-course meals in most restaurants.

Pesos are essential to maximizing the potential of your stay in Mexico as well as its value. There are many ways to gain access to the country's national currency, and while North American dollars are widely accepted in Puerto Vallarta, the fact is that pesos carry more weight in the area.

1 USD = 19.45 MXN - Today's Best US Dollar to Mexican Peso Exchange Rates.

Yes, tip at bars in Mexico, too

Twenty pesos per round is sufficient. If you open a tab and are paying at the end, then the same 10 to 20 percent rule as in restaurants applies, again with that range depending on what type of bar you're in and where.

Is $2 USD a good tip in Mexico? ›

It's really easier to use $20's ($USD) as that can easily be spent in most places. I've been tipping $2 bills for 20 years and not one person said anything negative about them. Most Mexicans feel that they're good luck. I've asked the management at each resort about tipping with $2 bills and they always say it's fine.

A small tip of $5-10 pesos is appropriate.

Using cash alone may not be the best idea. But it could still be beneficial to have some pesos in Mexico. Small businesses and those outside of major metropolitan areas might not have the technology to process credit card transactions or might just prefer to take cash. And it's always useful for tipping.

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online peer-to-peer foreign currency exchanges. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

The best place to exchange currency in Mexico is at a large bank or select ATMs. Both options will use the 'real' exchange rate, also known as the mid-market exchange rate. It's the midpoint between the buy and sell rate in global currency markets.

You may want to exchange money to MXN before you leave, but it's also usually convenient to make ATM withdrawals locally once you arrive in Mexico. You'll usually find you can use a card to make payments in Mexico, but carrying some cash in MXN is also reassuring.

Using your credit card for large purchases gives you more protection for the items you buy on your trip (you can look at your credit card statement to verify all of your purchases). Mexico's official currency is the Peso (MEX$), however U.S. dollars are widely accepted.

What can a handful of pesos get you in Mexico? Considering the fact that under current exchange rates, $100 USD equals approximately 1,671 MXN, so is $100 a lot of money in Mexico? Yes, you can get a whole heck of a lot from $100!