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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
Mexico's PRI repudiates pol linked by US to cartel - Fox News
 Houston Chronicle | Mexico's PRI repudiates pol linked by US to cartel Fox News Mexico's PRI, poised to retake the presidency this year after more than a decade in opposition, sought on Wednesday to distance itself from a prominent party member accused by US authorities of taking bribes from drug cartels. Mexico Party Suspends ex-Governor Over Probe Mexico political party suspends former official in drug-money scandal Mexico opposition party chides ex-governor in drug probe |
Expatriates in drug violence-riddled Mexico: Stay or go? - USA TODAY
 USA TODAY | Expatriates in drug violence-riddled Mexico: Stay or go? USA TODAY By David Agren, Special for USA TODAY SAN JUAN COSALÁ, Mexico — Pedro Toro Calvario, 15, stepped out for tacos with two cousins one night in April in this village of close-knit families on idyllic Lake Chapala. By David Agren, for USA TODAY Kenneth ... Expatriates in Mexico: Should they stay or go? |
Mexico's PRI eyes jump-start to reforms if victorious-aide - Reuters
 Kansas City Star | Mexico's PRI eyes jump-start to reforms if victorious-aide Reuters By Dave Graham and Adriana Barrera | MEXICO CITY (Reuters) - Mexico's main opposition faction hopes to secure support for energy, fiscal and labor market reforms by December if its candidate who is well ahead in the polls wins the presidency, ... 1000s of students protest media in Mexico Mexicans Protest Ties Between Politics, Media Thousands of students protest media coverage of Mexico's presidential election |
Mexico makes arrest in 2006 murder of US journalist - Fox News
 New York Daily News | Mexico makes arrest in 2006 murder of US journalist Fox News The slain journalist's parents, who traveled to Mexico in October 2008 to demand justice for their son, condemned the arrest of Martinez, while Amnesty International said he was being "used as a scapegoat by the Mexican authorities to claim there has ... Mexico captures suspect in slay of US reporter Mexico catches suspect in death of a journalist New Arrest in Death of US Activist Reporting on Mexico Protests |
Mexico confident about strength of European economies - Fox News
Mexico confident about strength of European economies Fox News In an interview at the IMEX business tourism fair in Frankfurt, Rodolfo Lopez Negrete Coppel said that "Mexico is interested in attracting more business in the convention tourism segment." "The European markets are very important, the world conventions ... Mexico seeks new tourists despite drug wars |
