I need to educate myself on pesos. I am going to Cancun and will covert us dollar at atm to peso.?

Question

Can somebody give a quick way to understand peso so i'm not handing out wrong amounts on items...expecially in the negotiating markets.

Thanks.

Answer 1

Capricassy,

I'd recommend you stick strictly with US dollars.

Cancun is very 'American' and you'll get better deals if you use dollars. Since you already know the value of the dollar, you'll be better off.

"Ranger"

Answer 2

You can exchange them at your hotel usually.  When I went it was around 9 pesos to $1.  You can shop using credit card or either currency.  Be sure to negotitate deals with the small vendors on the street, they'll usually take $7 for that $20 t-shirt they are selling.

http://www.tripupdater.com/cancun.html

Answer 3

In the markets it is easy...it is 10 to 1, no matter what the exchange rate is. Ten pesos equal one dollar. Saves on the math!

When negotiating plan on paying about 1/2 of what is originally requested. So an item is $20.00 or $200.00 pesos offer $8.00 and work your way up to $10.00 or $100.00 pesos.