So we are going to the bank tomorrow to get some mexican pesos and we were wondering, how much stuff costs in mexico comparatively. For example its costs 2-4 bucks for a carton of milk here at home but in mexico is it the same or more like 10-15 pesos? Also we were thinking about tipping in pesos as well since the exchange rate for canada is pretty good...something like 10:1 for the CDN dollar. If we do that, do hotel staff expect to see that same ratio in their tips in pesos? We are all good to go but this is the only thing we are unsure of still as we read a few different things online from travel sites so we need Cancuncare folks to give us your insight
Stuff in most of the areas that tourists get to cost about the same as in the US or Canada. Some more and some less but overall about the same. Taxi fare may be a little less, and dining or drinking out will be comparable to what you are used to paying. Tipping the hotel staff in pesos will be fine and very welcome and better than CDN dollars.
Make sure your bank gives you an exchange rate that is at least equal to what you would get from an ATM in Mexico. Usually the ATM exchange rate and fees is better for us than taking pesos. Have fun! :aktion069: Closing rate on Friday for CDN v Peso: 12.315 peso to the CDN$
Bart/annette are right, the main area is a tourist trap, so the prices will be about the same for shopping...if you go to the walmart its cheaper down there,...being that im from New York everything is cheaper down there for me....good ol new york, the empire state of taxes ...............enjoy your trip
I would actually get either american dollars, or wait until you get there if I was you. You will find out that you will get a much better rate for both. As far as tipping goes, I know that it might suck, but the exchange rate for american dollars is much better than the candadian dollar, so the staff will benefit more from the american dollar.
We just got back last night (I will post a trip report once I recover). From our experience I would get Pesos. Everything is priced in Pesos. If we asked how much in American they glady accepted our dollars but most of the time it was between a 10 and 12.5 to 1 ratio while the ATM's were giving 14 to 1. I don't know what the Canadian exchange rate is but I assume it is a pretty similiar deal. We tipped in American dollars because that is what we brought with us. I also downloaded a conversion calculator on my iTouch and cell phone. When we went shopping at the markets it was a great help, there were a few times that the vendors tried to take advantage of us and I was able to look it up myself and let them know that they needed to buy a new calculator. Another tip: bring an empty duffle bag in your suitcase, we just put our newly purchased items in that instead of worrying about them fitting in the suitcase.
Like some of the previous posts said, using an ATM down there is the best way to get pesos. Unless things have changed, they use the "million-dollar exchange rate" and charge a lower or no fee (depends on your bank). I use credit cards anywhere that will accept them...both for the exchange rate and it keeps me from having to get too much cash (and then having to pay to convert it back). With all the recent fee changes, make sure your bank doesn't charge an extra fee for international transactions. Some of mine do and some don't. I always bring my Sam's Club card too. For some things, including some liquor, they have good prices. Although dollars and pesos are the best for tips, I'm sure they'll appreciate most any currency. I think most people from the board tip, but I've seen too many people (even in the specialty restaurants) be very demanding and treat waiters/bartenders terribly and then don't tip anything. Overall, the prices can be better depending where you shop. I leave Friday for Paris...I won't be so lucky there.
Thanks a ton for all the answers as this has helped a lot. I guess my main concern was if I tipped the staff in pesos as apposed to USD, would i see less of an above and beyond approach from staff. If say its customary to tip the bar tender 5 bucks every so often and I give him 5 pesos as apposed to someone else who gave him 5 USD, would I be known as that guest who's cheap
The bartenders are awesome, they go above and beyond for everyone, you will notice that right away... any kind of tip is better then no tip at all, once you realize how good these guys are you will want to give them more....just keep in mind that 30 pesos or so is like 3 USD... so 5 pesos is pocket change...
It appears that you are coming from Canada. It really makes no sense for you to convert any CAD into USD. If you want to convert a little cash into MXP at your bank in advance of the trip, just to have some ready spending money, that make some sense (I don't think you need to convert more than $50 CAD in advance). Use the local ATMs when you need more MXP since you do get a better exchange rate through the ATMs. Note only convert what you are likely to need for a couple of days at one time - no sense going home with lots of left over Pesos that will cost you money to exchange back to CAD. When it comes to tipping, the simple thing to keep in mind is if you would normally tip some one $5 CAD at home then that same tip in Mexico would be 50 Pesos.
