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Mexico Currency

On a trip to a destination abroad, you need to have a fair idea about the country’s currency and exchange rate. So, now if you are planning to spend your vacation in Mexico, it will be helpful to know about Mexico currency. Since, you will in a new place, make sure that you are properly informed about all things related to money. You will undoubtedly be prepared with all the finance required for your stay in the country. However, if you have to take care of any unforeseen expenditure, knowledge about the currency will be more than helpful.

Exchange rate of Mexico currency keeps on changing, so before you begin the journey find out the latest rates. Travelers check, credit card and cash payments are the most preferred means of transaction while you are on a trip to a foreign country. Banking hours in Mexico are 0900-1600 from Monday to Friday. Some of the banks are open for longer hours also.

Mexico Currency Information

Mexican currency is known as Peso and its symbol is MXN (M$). One Mexican Peso equals to 100 centavos. Note denominations found are for 20, 50, 100, 200, 500, and 1,000; coin denominations range from 1, 2, 5, 10, 20, 50 and 100 centavos. Conversion rate of Mexican Peso against USD is 1.00 USD = 12.2858 MXN.

It is tough to exchange M$1,000 note and in some places, it might not even be accepted. So, carry sufficient amount of change while going out from the hotel. Local and foreign currency equivalent to US$10,000 can be imported and exported. Larger amounts will have to be declared.

ATMs in Mexico

ATMs of many leading banks are available in Mexico. You will find an ATM in most of the major tourist destinations throughout the country. All debit cards not accepted, so it will be better to check before you begin the trip. Once you have the information, prepare for the trip accordingly.

Credit cards in Mexico

Cash is the most preferred mode of payment in Mexico. Credit card users must remember that MasterCard and Visa are the widely accepted cards. Diners Club and American Express cards are also accepted, but only in some places. An additional 5% extra is charged by some companies for credit card transactions.

Travelers Check in Mexico

With the widespread availability of ATM machines and frequent usage of credit cards usage, traveler’s checks are not very popular these days. Nevertheless, you can carry travelers check if that is suitable for you. Some of the exchange houses give a good rate of exchange than most hotels.