peso or dollers??

iam still unsure what to change my pounds to, the exchange rate over here in the uk is 18.21 peso to the english pound and 1.57 dollar to the pound,!! wich is best? and when is best to change it? here in the uk or over in mexico, any advice welcome

andy

 

doesn't help your question but
most us US dollars

 

Hi Andy, I had the same dilemma as you, with coming from the uk. The advice I got was most of the tours are in $ and if you use $ in the shop they give you peso in return. Also you can get pesu from the atm whilst over there. Also I used this website Cheap Travel Money | TravelMoneyMax.com | Compare to get the best foreign currency exchange rates with the Travel Money Maximiser and today the best deal is $1.59 The company I used was the Change Group and the money arrived next working day.

 

Check with your bank and see if you can use the ATM's. Some of them have pesos, some have dollars. Try to keep in mind the fewer conversion steps you can get away with the better off you will be. Many of the tours are priced in USD for the convenience of American tourists but keep in mind especially in a market they have to exchange that back into pesos for it to really be useful to them and as a result you will pay a slight premium on anything you use dollars for.

 

For those of us that don't live in the USA it's better to get some Pesos before you leave home for immediate needs, then when you land use the ATM to get Pesos as you require more cash.

Your funds will go farther by using Pesos than an intermediate currency like USD

As an example most local Cancun business, taxis etc only offer a 1 to 10 conversion for USD to Pesos
- so if a taxi trip costs 200 Pesos and you pay in USD it will cost you $20 USD.

By converting directly from £ to Pesos, here is how much the taxi ride will really cost you
200 Pesos @ 18.21 to the £ = £11

By converting £ to USD and then paying in USD, here is how much the taxi ride will really cost you
$20 USD @ 1.57 to the £ = £13

So you would be saving £2 that you could use for something more important, like clubs and drinks !

 

They always take US dollars and my guess, you'd get a better exchange rate over in the UK!

 

Hi Andy,

On our last trip to Cancun from the UK a couple of years ago the exchange rate was something like £1 : 19 peso/$1.90. Considering you are still getting pretty close to that old Peso rate (but much weaker $ exchange rate), I would tend towards taking pesos. We had no problems at all using either currency in the resort so our decision this year will be made purely on the best exchange rate.

Hope this helps!

 

thanks for the advice guys, think iam going to take both currency prob split 50/50 that way ive got both and can use to pay for differant things

thanks, andy

 

Great post.:aktion033:

Have been wondering which currency to bring myself.

 

Why ??? Pesos are the official currency of all of Mexico (yes, including Cancun) - even if some tour operators list prices only in USD they have to accept Pesos - by law Pesos are the official currency of the country.

If you to to France and try to pay in £ or USD rather than in Euros some may accept it but you will get definitely ripped off on the conversion rate - same thing in Cancun

Rant over :icon_wink: