The best way to exchange your and get the best rate is by going to a bank or local credit union. There are many ways to exchange your money for pesos. So its best to pay exactly 100.00 MXN that way there is no confusion with the conversion rate. Pay in pesos however and you are paying the exact cost.įor example, if the average exchange rate is 20.00 MXN per $1.00 USD at the time and you buy something that costs 100.00 MXN. Paying in USD gives them the determining factor what your money is worth. You could end up paying more for something because the seller determines the rate. If paying using USD, different places will charge you a different rate. Exchanging your money for pesos is the best thing to do because it gives you the best buying power. But that couldn’t be further from the truth. You may think that paying for things in USD in Mexico can get you the best results. This means you get more pesos per dollar. You can expect the high season (Mid December through March) to generally have higher exchange rates since these are the busier months in Mexico. While the high rarely exceeds 25.00 MXN per $1.00 USD. The average low exchange rate in Mexico is 17.00 MXN per $1.00 USD. Likewise if there is less demand, the value will decrease. If pesos are in high demand, the value will increase. The exchange rate is in constant fluctuation and is determined by the flow of currencies in and out of Mexico. 100 MXN, $100 MN, or MX$100 are all different ways to write 100 pesos. The banknotes will be your most commonly used currency.Ī peso may be displayed multiple ways, regardless of which way it is displayed though, it all means the same thing price wise. Centavos are generally used to take a bus, or as a tip when dining out at a restaurant. Mexico prints banknotes in denominations of 20, 50, 100, 200, 500, and 1000 pesos. The more common form of pesos you will see are banknotes. Centavos denominations are found in 1,10, 20, and 50 piece coins. There are 100 centavos (cents) per one peso. In Mexico, the peso is the official currency. But if you want to get the best bang for your buck, make sure you are paying with the proper currency. In most tourist areas of Mexico, shops as well as restaurants will accept USD. When you exchange your money, you are optimizing its potential and worth. So it’s understandable that we all want the most out of our money. I think we can all agree we work hard for our money. The fee is only $3.99 USD for a cash pickup, and is generally available in minutes. Or try sending yourself money using Xoom, a Paypal service. They will exchange your cash (for an average fee of $16.00 USD) and give you the current conversion rate in pesos. The most simple way to exchange your money for pesos is by going to your local bank or credit union with the amount you’d like to exchange. If you are planning a trip to Mexico, you may be wondering how you go about exchanging your money.

Mexico currency exchange rates