The peso is the national currency although some places in Cabo San Lucas and Los Cabos they may still accept U.S. dollars for your convenience. Major credit cards are accepted in most establishments.

Banks offer currency exchange during business hours. Universal ATM's are widely available for cash withdrawals at the current exchange rate, which together with using the banks offer the best exchange rates and least commissions.

Visitors can access ATM’s in several systems such as VISA, MC, Cirrus and PLUS. Most ATM’s have menus in English. The ATM’s only dispense pesos.

For the current exchange rate (reference only) use the following link: XE.com Personal Currency Assistant
Or check out the Currency Conversion on Yahoo.com!

Current bills and coins:

Mexican 1000 peso bill   20 peso coin

20 peso coin

500 peso bill   10 peso coin

10 peso coin

200 peso bill   5 peso coin

5 peso coin

100 Peso Bill   2 peso coin

2 peso coin

50 peso bill   1 peso coin

1 peso coin

20 peso bill   50 cent coin

50 cent coin

Notice:
These are the official coins (20, 10 and 5 cent coins not included) and bills. The 1000 peso bill is the highest denomination.

Money Exchange:

You can change money at a convenient Casa de Cambio (Money Exchange House). These are money exchangers that are open long hours and provide quick service, take into account that they hide their commissions in rates that are a little lower than the ones provided by ATMs or banks.

Although dollars were widely accepted in resort areas this has changed in the latest years and we now recommend using pesos during your stay.

Hotels may also exchange dollars, but these normally give you the lowest rates, use them as a last resort. You will find better rates at the exchange houses, and the best rates at banks.

To exchange money in the banks you can only do it between 9 AM and 1PM (even though the banks are open longer). Expect a slightly lower rate for travelers checks. Commissions are not generally charged on money exchanges.

We also recommend exchanging $20-$30 dollars into pesos before leaving home. This way you will arrive in Mexico with pesos for cab fare to you hotel and for tipping.

Author: M. A. Gallardo

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