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Currency

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Those of you, who are planning to travel to Mexico - for a business trip, a vacation or other reason - should be familiar with the local currency and exchange requirements. Below, you will find all the necessary and required preliminary information you need in order to plan your trip to Mexico better.

The official currency in Mexico is the Mexican peso (MXN). There are notes of 20, 50, 100, 200, 500 and 1000 pesos available in circulation. The small change of Pesos are 1, 2, 5 and 10.

There is no longer a possibility for traders to change US dollars into pesos in Mexico. However, when you need а local currency, you will be pointed to the closest office for dollar exchange. These are the official places where visitors of Mexico can exchange their USD money for local Mexican pesos.

Here are the main places for currency exchange in Mexico:

  • Offices for currency exchange in Mexico
There are many of them all over the country, but it is a common to see the first offices for currency exchange in Mexico on the airports. This makes it convenient and easy for any visitor to immediately exchange dollars or other currency for pesos right after the arrival in Mexico.
The offices can be easily recognized by the exchange sign. Please keep in mind that you will be required to show your valid passport to make the exchange deal. Note that the Peso/Dollar rate is shown as BUY or PURCHASE.

  • Banks
The bank is another safe and accessible place to be provided with local currency when you decide to visit Mexico. However, not all of the bank institutions in the country provide such a service to the customers without official and valid account in the particular bank.
This is why it is important and recommended for you to ask someone in the hotel to show you the closest Mexican bank that allows foreign citizens with no account in the bank to exchange USD or other currency for local money. When you find one, you will need to provide your passport.

  • Automated Teller Machines (ATMs)
The modern Automated teller machine is a great alternative to convert currencies in Mexican pesos. This is the well-known ATM machine and, in most cases, it has the best USD/MXN rate – including after being charged with the ATM fee for the service. It is important to know that some scams may be going on around some ATMs. In case you have a problem with the machine, always ask only official bank employees for help and not random people from the street.

  • Credit Cards
Another option for currency exchange in Mexico is using your credit card. In many cases it gives you the best exchange rate for pesos. Note that this option does not provide you with the local currency immediately. Also, you can see the exchange rate for the purchase or payment you made via your credit card on your monthly balance paper or other document for your credit card transactions.

Get your wallet and sunglass ready and enjoy your time in Mexico!