Can anyone give me a general idea of what the current exchange rate is for US dollars to pesos? I know it varies from place to place, ATM to ATM. I was quoted 12.70 pesos per $1 US and trying to determine if I should exchange here or wait until I arrive in Cancun. I usually use an ATM at Walmart in el centro but won't be able to get there until 4 days after my arrival in the hotel zone. Thanks!!
The current official bank exchange rate is 13.5736. So figure 12.90 or better is a good rate. Anything below that is not really that good.
I use Xoom and they are 13.22 today https://www.xoom.com/mexico/fees-fx you can use Xoom and transfer money to yourself while in Mexico
We always just bring US Dollars...but we normally only leave the resort for the Boobs Cruise. If you do more than a little shopping or spend an entire day outside your resort...Pesos will be your best bet. Most every place will accept US Dollars, but often the exchange rate will not favor you.
Where is the best place to exchange US dollars for pesos? And then also, where is the most convenient place to exchange? I think I am heading straight to the resort from the airport so I might just exchange some at the airport.
Thanks again everyone! I'll only be in the hotel zone for 3 nights and will be spending the remainder of my time with friends who live in el centro so I think pesos are necessary. I'm aware that there's no problem using US dollars in the hotel zone but, as scottydog mentioned, the exchange rate is not favorable and is why I've been contemplating exchanging dollars for pesos here before I leave for Cancun.
When I' have exchanged for Pesos, I just took care of it at my bank. I always take about $500 with...I just took about $100 of it in Pesos. Easy. There is an exchange facility almost directly across the street from Temptation that our friends used last year....I'm sure you can find one near your resort as well.