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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 Reygadas brings surrealism to Cannes - Fox News
 The Guardian | Mexico's Reygadas brings surrealism to Cannes Fox News Mexico is wracked by murderous violence, often involving drug gangs who leave the decapitated bodies of their victims on public display. One of the film's most startling images involves a man literally pulling his own head off. Mexico's Carlos Reygadas springs surrealist surprise at Cannes with 'Post ... |
Bud Becomes Category 2 Hurricane as Mexico Coast Prepares - San Francisco Chronicle
 Voice of America | Bud Becomes Category 2 Hurricane as Mexico Coast Prepares San Francisco Chronicle "Swells generated from Bud will begin affecting portions of the southern and southwestern coasts of Mexico later today," the advisory said. "These swells are likely to cause life- threatening surf and rip current conditions." The system was 280 miles ... Hurricane Bud forms off Mexico's Pacific coast -NHC Hurricane Bud forms off Mexico Hurricane Forms Off Coast of Mexico |
Mexico's PRI repudiates pol linked by US to cartel - Fox News
 Forbes | 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 political party suspends former official in drug-money scandal Mexico Party Suspends ex-Governor Over Probe Mexico opposition party chides ex-governor in drug probe |
Mexico's PRI eyes jump-start to reforms if victorious-aide - Reuters
 Boston.com | 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 |
Mexico seeks new tourists despite drug wars - Reuters
 The Malaysian Insider | Mexico seeks new tourists despite drug wars Reuters By Victoria Bryan | FRANKFURT (Reuters) - Mexico is relying on travellers from countries like Russia and Brazil to boost its tourism numbers this year after the drug war plaguing the country deterred US visitors, its largest source of tourists. Mexico confident about strength of European economies |
