Last week I checked the value of the MX Peso to US dollar and it was 13.31 pesos per dollar. As of this minute it is 13.60 pesos per dollar. Which means that if something was 500 pesos last week I would have spent 37.57 dollars and today I would only be paying 36.76 dollars... http://www.xe.com/ What is the deal with the Peso? How do you deal with fluctuations in the market when paying with dollars? I may just be thinking too hard this morning my brain hurts now... :shock:
Relax the exchange fluctuates daily. Your talking peanuts, the difference is less than a dollar for a 500 peso purchase and you can get a beer at the store for about 20 pesos. So the difference on a beer is only pennies. Figure you change 100 USD for pesos at 13.60 you get 1360.00 pesos and at 13.31 you get 1331.00 pesos. So the diff is worth about one margarita. Yep give that brain a break and think about the beautiful turquoise waters you will be seeing.
Yea im really not worried too much but it is amazing to see it fluctuate like that... as of now it is up to 13.72
Yes, I was going to say the same Cokewithlime. All currencies fluctuate against each other, the strength or weakness of the dollar has just as much, if not more, to do with the pesos current value as the strength or weakness of the peso does. The changes aren't that great in the short term, and if anyone could predict them accurately then I'd suggest they get into currency trading and make themselves rich :wink: Incidentally, a little over a year ago the rate was 10 pesos to the dollar - with it being over 13.5 now it's a lot cheaper here for a person with dollars in their pocket than it used to be.
Don't fret over the daily fluctuations. I don't think you will find a place that will give you exactly 13.72 per dollar. When I was there from 9/12 -9/18 the cambios in Mexico City Airport was giving around 12 per dollar. My hotel was 11.5 and downtown cambios were 12.5. Some shops will accept US dollars and credit you at 13 per. Sometimes it's better not to change to pesos. If it's not too complicated for you, just keep both currencys on hand when shopping.
Steve - We were there in May, at the peak of the "swine flu" scare and you think people serving the tourist industry would be even more helpful and co-operative... The following happened numerous times to us with both shopkeepers and taxis. When you when you asked how much something or a taxi ride from point x to point y would cost they would of course always quote you in pesos. The exchange rate at the time was very similar to today ie 1USD=13.xxxMXP As a real world example - So if the taxi ride was quoted at 130 MXP and I tried to pay them with $10 USD they would refuse, saying I owned them more money - I would then take the $10USD back and pay them from the other side of my wallet 130 MXP - they then were happy and we went on our way Just goes to show that the old (wrong)paradigm of 1 USD = 10 MXP still exists in most peoples minds - LOL Our rule on thumb over all the years we have traveled is that for ANY cash purchases, do those ONLY in the local currency - it will always work out to your advantage
It certainly does. There's a bar/restaurant we often to go to with US friends and they still use 10:1 for the bill if paid in dollars. Needless to say we always try to exchange our friends dollars at the proper rate and pay the bill in pesos. When paying in dollars you will always lose out, simple as that. These days it's so easy to withdraw pesos from the ATM machine in Cancun at a very favourable rate that I dont understand why people use dollars so much. Even most Brits use dollars when it's just as alien to them as pesos are. I guess it's mainly because their travel agents tell them to (and reap in their commission at the same time).
