Can I use US dollars at most places in Cancun? I'd prefer just to use US dollars rather than trying to figure out the conversation rate.
$$ you can use dollars almost anywhere, but if the price is in pesos, how will you know how many dollars to pay if you dont figure out the exchange rate? :usa1::mexicoflag:
yup, I am sure that most vendors will take dollars but then they have to go through the pain in the butt to exchange them. I am sure that they tilt the ecxhange a bit to make sure they make money off of it too as they should.
99% of the time, if you pay in USD, you will get pesos back in change and at an unfavorable exchange rate...in their favor.
thanks for the info. if the price in US dollars seems fair, i will just pay it and round up $1 so i don't have to deal with peso change.
When in Rome......use what the romans use Get your money exchanged into pesos Or when I was just there it was 12.3 to a dollar, so 100 pesos is pretty much 8 bucks.
ATMs You will save money at every turn if you pay in pesos: they are easy to get from ATM machines located everywhere. If you don't access the ATM with a credit card, your fees and exchange rates will be advantageous. It shouldn't be hard to find someone who's staying in Mexico longer than you to exchange with, when you're ready to go home and, if you don't succeed, save them for your next trip! They're going up in value against the dollar, anyway. HSBC ATMs give me the best results in terms of fees charged.
Must admit I cant believe the number of places where when you pay for a Peso bill in Dollars they are still charging a rate of 10:1 when it's actually 12.5:1. It hasnt been anywhere near 10:1 for 18 months or so now. I do see it the other way though, tours and nightclub entrance are usually priced primarily in Dollars, and those that pay in Pesos suffer the reverse problem. Overall, I'd recommend Pesos for the fewest rip off opportunities.
I can't think of anywhere that has USD prices listed, except maybe the clubs. Prices are listed in pesos, going to be much easier (and better for your pocketbook) if you use pesos.
I have been wondering along these same lines about tipping. Is it better to tip housekeeping and waitstaff in peso's or dollars? I am sure the locals know where to get the best exchange rate , but then they do have to go through the trouble to exchange them. What do you locals say, peso or dollar?
