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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 extradites 2 drug traffickers to US - Fox News
 BBC News | Mexico extradites 2 drug traffickers to US Fox News A Beltran Leyva drug cartel boss and a member of the Tijuana drug cartel were extradited by Mexico to the United States, the Mexican Attorney General's Office said. Sergio Villarreal Barragan, a leader of the Beltran Leyva cartel, was handed over to US ... Mexico extradites drug boss involved in corruption probe Drug cartel player extradited to US from Mexico Mexico: Drug Cartel Boss Extradited To US |
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. Bizarre Mexican family drama baffles Cannes |
Hurricane Bud forms off Mexico's Pacific coast -NHC - Reuters
 Voice of America | Hurricane Bud forms off Mexico's Pacific coast -NHC Reuters Bud expected to start weakening on Friday * Hurricane may not make landfall (Updates with Bud as hurricane) MEXICO CITY May 24 (Reuters) - Hurricane Bud formed off Mexico's Pacific coast early on Thursday, and could threaten parts of southwestern ... Bud Becomes Category 2 Hurricane as Mexico Coast Prepares Hurricane Forms Off Coast of Mexico Hurricane Bud forms off Mexico |
Mexicans Protest Ties Between Politics, Media - Wall Street Journal
 Wall Street Journal | Mexicans Protest Ties Between Politics, Media Wall Street Journal By NICHOLAS CASEY and JOSÉ DE CÓRDOBA MEXICO CITY—Thousands of students are joining a growing street-demonstration movement to protest Mexico's top two television networks, which they accuse of colluding to secure the leading presidential candidate's ... 1000s of students protest media in Mexico Mexico's PRI eyes jump-start to reforms if victorious-aide Mexico political party suspends former official in drug-money scandal |
Mexico Party Suspends ex-Governor Over Probe - Wall Street Journal
 Forbes | Mexico Party Suspends ex-Governor Over Probe Wall Street Journal AP MEXICO CITY—Mexico's former ruling party said Wednesday it will suspend the membership of a former governor accused of accepting millions of dollars in bribes from drug cartels. Tomás Yarrington, the former governor of the border state of ... Mexico opposition party chides ex-governor in drug probe Mexico's former ruling party distances from ex-gov Mexico Journal: Violence and Corruption on the Texas Border |
