Cancun Mexico Currency?

Question

Hi, We are going to mexico in May, I have never been there and wanted to know if anyone could help me with the money aspect of it so I make sure I get correct change back. Can anyone explain it or give me a website to look at. I would like to have something to keep with me on my trip. Any advise would help. Thanks

Answer 1

Currently, the exchange rate is around 10.50 pesos to 1 usd.  for a hundred bucks you will get 1,050 pesos.

In the International Airport of Mexico City you find plenty of exchange houses (or en spanish "casas de cambio).  Check around, even if you have to go to the very end in order to get more pesos for your dollar.

Should you have any additional questions, please don't hesitate to email me.

Welcome to Mexico!!! Home of the tacos and friendly people!!!

Answer 2

The Mexican Peso

Mexico's currency is the Mexican Peso. There are one hundred Mexican cents (centavos) to every Peso.

About Mexican Coins

Coins are minted in denominations of 5, 10, 20 and 50 centavo pieces, however it's very rare to see coins of less than 50 centavos these days.

The most common coins in circulation are the denominations of 1, 2, 5, 10 pesos.

Some limited editions of coins with denominations of 20, 50 and 100 pesos exist, although they are rarely seen as people tend to keep them for collection purposes.

About Mexican Bank Notes

Mexican Bank notes are printed in denominations of 20, 50, 100, 200, 500 and 1000 pesos. The most commonly used are the 50, 100 and 200 peso notes.

The 500 and 1000 peso bank notes are hard to spend for small purchases, as they use up the trader's change.

Old Mexican Bank Notes: People with old $1,000 or even $100,000 peso bank notes wonder if they may be exchanged for new money. Well, they can be, but the value will vary depending on which bank note you hold and from what year. Old notes may be exchanged at the Bank of Mexico for new ones; traders and shops won't accept them.

Small Change/Notes in Mexico: getting change always seems to be a perennial problem in Mexico: try to make as much change as possible to use with independent traders by spending larger denomination notes in big stores; you will need the smaller notes for taxis, local buses and other small purchases where the traders often don't have the available change to hand.

About the Bank Notes: The 20 and 50 Peso notes are slightly smaller than the 100, 200, 500 and 1000 peso notes, which are all the same size

Credit cards are widely accepted, particularly Visa, MasterCard and American Express. Travellers cheques are generally accepted, but cannot be cashed on Sundays. ATMs are available in most cities and towns and are the most convenient way to get money, but for safety reasons they should only be used during business hours. Although most businesses will accept foreign currency it is best to use pesos. Foreign currency can be exchanged at one of many casas de cambio (exchange houses), which have longer hours and offer a quicker service than the banks.

http://www.mexperience.com/guide/essenti...

1.00 GBP = 21.3376 MXN Mexico Pesos

1.00 USD = 10.6987 MXN

http://www.xe.com/ucc/convert.cgi

Have a great time!

Answer 3

The Mexican Peso

Mexico's currency is the Mexican Peso. There are one hundred Mexican cents (centavos) to every Peso.

About Mexican Coins

Coins are minted in denominations of 5, 10, 20 and 50 centavo pieces, however it's very rare to see coins of less than 50 centavos these days.

The most common coins in circulation are the denominations of 1, 2, 5, 10 pesos.

Some limited editions of coins with denominations of 20, 50 and 100 pesos exist, although they are rarely seen as people tend to keep them for collection purposes.

About Mexican Bank Notes

Mexican Bank notes are printed in denominations of 20, 50, 100, 200, 500 and 1000 pesos. The most commonly used are the 50, 100 and 200 peso notes.

The 500 and 1000 peso bank notes are hard to spend for small purchases, as they use up the trader's change.

Old Mexican Bank Notes: People with old $1,000 or even $100,000 peso bank notes wonder if they may be exchanged for new money. Well, they can be, but the value will vary depending on which bank note you hold and from what year. Old notes may be exchanged at the Bank of Mexico for new ones; traders and shops won't accept them.

Small Change/Notes in Mexico: getting change always seems to be a perennial problem in Mexico: try to make as much change as possible to use with independent traders by spending larger denomination notes in big stores; you will need the smaller notes for taxis, local buses and other small purchases where the traders often don't have the available change to hand.

About the Bank Notes: The 20 and 50 Peso notes are slightly smaller than the 100, 200, 500 and 1000 peso notes, which are all the same size

Credit cards are widely accepted, particularly Visa, MasterCard and American Express. Travellers cheques are generally accepted, but cannot be cashed on Sundays. ATMs are available in most cities and towns and are the most convenient way to get money, but for safety reasons they should only be used during business hours. Although most businesses will accept foreign currency it is best to use pesos. Foreign currency can be exchanged at one of many casas de cambio (exchange houses), which have longer hours and offer a quicker service than the banks.

http://www.mexperience.com/guide/essenti...

1.00 GBP = 21.3376 MXN Mexico Pesos

1.00 USD = 10.6987 MXN

http://www.xe.com/ucc/convert.cgi

Have a great time!

Edit....Conde....Thanks for copying and pasting my answer!!!

Answer 4

My answer its simple in Cancun US Dollar is well accepted only few things you would not be able to buy it in american currency.

Coins are not accepted , only bills in good shape...100 usd bills in some places are not accepted due to recent counterfit

problems.

With Visa or Mastercharge you can get mexican money at a ATM in Cancun.

after your trip ends exchange it back to american money, although Mexican currency has been relativly stable in the past 10 years, is not a very stable currency and devaluation is a risk, also the mexican goverment change regulary the desing of certain bills all the time.

Answer 5

im from mexico and im going to mexico in june...

the currency over there is well for example 5 pounds in here are 100 pesos over there...but if you going to cancun you can pay with dollars...you dont really need the mexican currency to pay stuff with...

Answer 6

Wow, that sounds like a great vacation! In Mexico they use the Mexican Peso. The conversion rate for Americans is really good! It's about 1:10 so 100 american is 1,000.00 Mexican.

It is very easy to pay for things in Mexico seeing that they will gladly and i mean GLADLY take USD over the Peso. Cancun, especially, will be very easy to get along in. If you venture out into the inner territories, however, you may want to keep Peso on you. This goes especially for tours, like if you want to visit Mayan ruins with a guide, it is a good idea to bring Pesos.

To exchange currency you can do so in the airport, at your hotel at the front desk or at customer relations, or at an Buro de Cambio.

Getting around in Mexico is very easy, so don't worry. The most common exchange for US banks to handle is between the USD and the Peso, Euro and Canadian Dollar. You will very easily get your money back and will probably have more than expected. Things in Mexico can be very cheap for us, but, beware of being ripped off!

Also, a quick side note: they will not accept money that is torn, taped together or missing a piece!

Hope this helps!