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Mexico Travel - Swap your greenbacks for pesos or you'll pay the price
from: James TruettCABO SAN LUCAS, Mexico -- If you feel safer using your
greenbacks to pay for your purchases in Mexico, you're paying a
hefty premium for your imagined security.
While many stores, restaurants and bars in all but the smallest
towns generally accept U.S. currency in payment, you can be sure
that little shopkeeper is smiling as you walk out his door!
You just gave him a bonus - as much as ten percent - just
because you paid in U.S. dollars.
The International Monetary Fund currency exchange rate between
the U.S. dollar (USD) and the Mexican Peso (MXN) is about 10.50
pesos to the dollar as of this writing, but that's not what you
get from that nice little shopkeeper, sexy waitress or friendly
barkeep.
Most establishments set their exchange rates 10% lower than the
bank's rate to accommodate natural fluctuations in international
currency markets. So, while the bank rate might be 10.50 pesos
to the dollar, it's not uncommon for local businesses to give
only 9.50 pesos to the dollar.
The result: you end up paying 10 percent more for your
purchases. If that doesn't sound like much, consider this. If
the average traveler to Mexico spends $2,000 USD during a
one-week visit, that visitor could be paying an extra $200 USD
if everything is paid in dollars.
For reference purposes, the average Mexican worker is lucky to
make $100 a week, so the extra $200 you paid would cover the
wages of a Mexican worker for two weeks!
The moral of this story? When in Mexico, ALWAYS pay in pesos,
and you'll get the cheapest price and save money.
To find out how to get the very best currency exchange rate, and
how to get your travel cash in a foreign currency before you
leave home, you'll want to check out the e-book, "50 Things You
Must Know Before You Travel to Mexico". The book contains vital
information for anyone planning to travel to, live in or retire
in Mexico.
For more information, go to:
http://truestarpublishing.com/ART101/
About the author:
James Truett, a former AP reporter, writes from his home in Cabo
San Lucas, Mexico. His
book, "50 Things You Must Know Before You Travel to
Mexico," contains vital information for anyone traveling to
Mexico. For details,
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Mexico Specific links
Mexico News
Special Report: Mexico's Zetas rewrite drug war in blood - Reuters
 New York Daily News | Special Report: Mexico's Zetas rewrite drug war in blood Reuters By Ioan Grillo | VALLECILLO, Mexico (Reuters) - Mexican government forces had bottled up a band of enemy fighters in this tiny village late last year, but feared they would escape into the dusty, rock-strewn hills. So more than 600 soldiers and federal ... Mexico Arrests 'El Loco' for Role in Beheading and Mutilation of 49 Victims Mexico: Zetas gang ordered slaughter of 49 as part of ploy 'El Loco,' drug cartel leader, arrested for beheading of 49 in Mexico |
Mexico leftist moves into second in presidential poll - Chicago Tribune
 USA TODAY | Mexico leftist moves into second in presidential poll Chicago Tribune MEXICO CITY (Reuters) - Mexico's leftist presidential hopeful Andres Manuel Lopez Obrador pushed into second place behind opposition frontrunner Enrique Pena Nieto with just seven weeks to go before the vote, a poll showed on Tuesday. Mexico front-runner keeps double-digit lead Front-runner in Mexico race pledges plurality Mexico's Pena Nieto Keeps Lead as Second Place Undefined: Poll |
Manufacturing in Mexico Events to be Hosted this Fall by The Offshore Group - MarketWatch (press release)
Manufacturing in Mexico Events to be Hosted this Fall by The Offshore Group MarketWatch (press release) TUCSON, Ariz., May 23, 2012 /PRNewswire via COMTEX/ -- Initiating and maintaining nearshore production facilities will be the subject of two Mexico manufacturing events to be hosted this fall by The Offshore Group. Manufacturing in Guadalajara 2012 ... |
Tropical Storm Churns at Sea Off Mexico's Pacific Coast - Bloomberg
 CBC.ca | Tropical Storm Churns at Sea Off Mexico's Pacific Coast Bloomberg Tropical Storm Bud churned at sea off Mexico's southern Pacific coast with top winds unchanged at 40 miles per hour (65 kilometers per hour), the National Hurricane Center said. The storm was moving northwestward at 12 mph about 420 miles ... Tropical Storm Bud moving northwest in the Pacific HURRICANE SEASON: TS Bud swirls far off Mexico Tropical Storm Bud threatening Mexico, will remain far from Hawaii |
Mexico Stocks End Slightly Lower; Peso Weakens Vs US Dollar - Wall Street Journal
Mexico Stocks End Slightly Lower; Peso Weakens Vs US Dollar Wall Street Journal By Laurence Iliff Of DOW JONES NEWSWIRES MEXICO CITY (Dow Jones)--Mexican stocks and the peso lost ground Tuesday after former Greek leader Lucas Papademos suggested that the possibility of the debt-laden nation leaving the euro zone is real, ... |
