Going USD exchange rate

[sueandkent]

Just wondering what the current going rate is for paying in USD for rides etc in Mexico where the price is in pesos. For example, if your cab ride is 100 pesos what would you pay if using USD? Thank you. 

[n4w]

https://www.google.com/search?q=pesos+to+dollars&rlz=1CAVARX_enUS909US909&oq=peso&aqs=chrome.1.69i57j0i433i512l2j0i512l2j0i433j0i512j46i10i512j0i512l2.3252j0j15&sourceid=chrome&ie=UTF-8

[Hlitner]

I think the OP should understand that when paying for many things, in Mexico, with US Dollars you are not going to get anything close to the official exchange rate.  Taxis, shops, bars, etc. are able to give you whatever exchange rate they please.  So if you plan on using US Dollars it is wise to ask what it will cost before you obligate yourself to a purchase (a good rule if even using Pesos).  The current exchange rate is about 20 Mexican Pesos to $1 (US).  That is about the rate I currently get when using Mexican ATM machines to get my Pesos.  Major credit cards that do not have a foreign exchange fee will also get you a comparable rate.  

 

As to using taxis, always negotiate a price before you get in the taxi.  If you want to pay in dollars make sure to get the price in dollars and feel free to try and negotiate a lower price.  In theory a 100 Peso ride should cost you about $5US but most taxis will want at least $6 (and some may ask for more).   The taxis that are located within the Port area (Federal Zone) may charge different rates (often based on a set cost per person) while regular taxis (those found outside ports and airports) will charge a fee per taxi.

 

Hank

[sueandkent]

21 minutes ago, Hlitner said:

I think the OP should understand that when paying for many things, in Mexico, with US Dollars you are not going to get anything close to the official exchange rate.  Taxis, shops, bars, etc. are able to give you whatever exchange rate they please.  So if you plan on using US Dollars it is wise to ask what it will cost before you obligate yourself to a purchase (a good rule if even using Pesos).  The current exchange rate is about 20 Mexican Pesos to $1 (US).  That is about the rate I currently get when using Mexican ATM machines to get my Pesos.  Major credit cards that do not have a foreign exchange fee will also get you a comparable rate.  

 

As to using taxis, always negotiate a price before you get in the taxi.  If you want to pay in dollars make sure to get the price in dollars and feel free to try and negotiate a lower price.  In theory a 100 Peso ride should cost you about $5US but most taxis will want at least $6 (and some may ask for more).   The taxis that are located within the Port area (Federal Zone) may charge different rates (often based on a set cost per person) while regular taxis (those found outside ports and airports) will charge a fee per taxi.

 

Hank

Thanks. I have been to Mexico more times than I can count but it’s been a couple years now so I just wanted to see what current travellers were using  for a rough conversion to USD. 20 to 1 was the info I was looking for so thank you.

[canadjineh]

Hi @sueandkent, I live in BC and I used to work in the banking industry. Something many haven't thought about is the double exchange you are paying to get USD and then exchanging that for MXN products & services.  A traveller is always better off buying the currency of the country they will visit from their bank at home unless you have a dedicated USD account that you can just add to during a favorable exchange period, or put surplus USD back in without exchange when you return from your trip.  We keep a Euro account in our Canadian bank as well as a USD account and they sure come in handy when you can add to them anytime the exchange is favourable, and have easy funds ready when heading off on a trip. 

Ten un buen viaje!

[sueandkent]

1 hour ago, canadjineh said:

Hi @sueandkent, I live in BC and I used to work in the banking industry. Something many haven't thought about is the double exchange you are paying to get USD and then exchanging that for MXN products & services.  A traveller is always better off buying the currency of the country they will visit from their bank at home unless you have a dedicated USD account that you can just add to during a favorable exchange period, or put surplus USD back in without exchange when you return from your trip.  We keep a Euro account in our Canadian bank as well as a USD account and they sure come in handy when you can add to them anytime the exchange is favourable, and have easy funds ready when heading off on a trip. 

Ten un buen viaje!

Yes I do have a USD account. I really just don't want to carry both pesos and USD. It's usually just as easy to pay for things in Mexico with USD when you are only there on short day stops (different for a long vacation). I just wasn't sure what the "going rate" was currently. Most shops and rides etc will list their prices in both pesos and USD, just wanted to make sure I wasn't getting ripped off...I hate that. 

[Mike45LC]

I have a local Las Vegas currency exchange place that will sell pesos at approx 20 per dollar.  In Mexico, stores will generally buy your US dollar at between 15 and 18 pesos per dollar.   

 

I still have about US$75 in pesos from my last trip, and I will exchange several hundred US$ into pesos before my next trip.  I hate using US$ and getting an exchange rate of 15, which is a large surcharge.  

 

[Ashland]

We just paid from cruise port to the Malecon In PV for the two of us $8.00 and in Mazatlan from port to Mercado in town $8.00. The cost was fine for us. They wanted $10.00 inside the ports (for two)...we walked out to the street.

 

We paid $6.00 for both returns to the ship. and in PV the taxi driver dropped us off right at the door of Walmart ... our request.

Edited February 8, 2022 by Ashland

[mlgb]

I withdrew from a Banamex ATM in Cabo (one at the branch). I got 2000 pesos and my bank debited  98.83. That included the Banamex fee (30.74) So just a hair better than 20 to 1 at a bank ATM in Mexico. One of the reasons I did this was that previously in the Yucatan I couldn't get an ATM to work for me.   Maybe the more recent card (same bank, Capital One) just works better.

Edited February 15, 2022 by mlgb

[ATSEAMYLIFE]

Figure about 20 to 1.  You might get a little better or worse.  Keep in mind the merchants can set their own exchange rate when you pay them with USD.  So in a store you might get 17 or 18 to 1.  Today I took out $5000 MX at a HSBC ATM and it cost me $241 USD.  If it's convenient to get some pesos then it might be worth it to pay with them.