So, I'm thinking with our price to buy US dollars currently at $113 for $100, maybe we should take pesos for tipping instead. We lose so much at conversion, I'm thinking the staff do as well, which kinda makes my dollar lose twice. I know we've had lots of threads on tipping and whether the staff prefer US to pesos. (Not sure we've had a definitive answer) That being said, if I'm tipping in pesos, at what peso amount is a tip insulting? For example, when I waited tables, if you left 50 cents I would assume you were trying to make a point that my service was awful. Or, if you tip in pesos, what do you do?
For tipping I'd recommend Pesos. The staff can't pay their electric or their rent with Dollars and, as you say, will lose out when they exchange. I know for the Boobs Cruise staff the tips usually come in Dollars and the first thing most of them do is head to the convenience store by TTR to exchange them to Pesos, even before going home. As for how much. Pesos come in notes of 20, 50, 100, 200 and 500. Coins are 1, 2 ,5 and 10. For TTR staff I'd suggest a minimum tip in Pesos should be a 20 Peso note. Coins would be a bit insulting and are usually used as tips for the 9 yr old that bags your groceries in the supermarket or the guy with a red flag who helps (or more usually hinders) you when reversing out of a parking space.
Thanks Steve. That's the kind of advice I was hoping for. When I did the quick exchange I thought probably 20 pesos was about as low as one should go, but wanted to make sure I wasn't inadvertently being insulting! Good to know about the coins too, I'm guessing they would only be ok as a tip if they added up to well over 20 and even then only on your last day. I say that because I once got a $5 tip in 10cent and 25 cent coins from some lovely US tourists emptying there pockets on the last day!
Use the ATM at the resort to withdrawal pesos. You will get your bank exchange rate and save a trip to the bank. I usually bring a few hundred in USD and the balance I take out in pesos from the ATM. Last time I went Canadian dollar was pretty much at par and they were taking that also. Not sure what the situation is now that it has dropped.
Just checked the rates for buying the Peso (Scotiabank) $1 CDN = 8.78 Pesos...not sure that it is any better and they don't buy Pesos back.
