How to Exchange Dollars for Pesos in Mexico

When traveling into Mexico you will need Mexican currency to buy goods and services. But, you will need to find places where to exchange dollars for pesos and in this article I will explain where to find these places. I will explain two places where you can exchange dollars for pesos all throughout Mexico, just in case you decide to travel into Mexico.

The first place is you can exchange Dollars for Pesos is at Casas de Cambio (exchange houses) and their name will be posted on the outside of these businesses in big letters. At these places the Dollar can be exchanged, but they low ball the value of the Dollar on the Market because they want to make as much profit off the exchange as they can. Casas de Cambio can be found at about every street corner all throughout Mexican cities or small towns. In my town there is like three Casas de Cambio and counting every year. And, Casas de Cambio also have very fast service for the speedy tourist.

The second is the most profitable place you can exchange your Dollars for Pesos and it's at Bancos (Mexican Banks) and they usually pay the going Market Rate at that current date. But, the downside of exchanging your Dollars for Pesos at Bancos is that you will have to wait in line for about one hour. Because, a lot of people want that extra two Pesos per Dollar especially with these hard economic times at the current moment. I usually try to avoid going to Bancos to get my Pesos, because when I'm in Mexico I'm on a time frame and I can't waste time. I would suggest investing American money in Bancos, because sometimes their interest rates are very high.

Also when spending money in Mexico always bring a friend with you to help out with your shopping and eating out. Because, you must be aware of your surrounding when spending money to be sure vendors don't cheat you out of your Pesos. Not all vendors will cheat you, but like in any other country there is always money cheaters out there. Just be careful and do your research on the going Peso costs for goods and services. I would encourage all my readers out there to leave me comments on their experiences with money exchanges in Mexico, just leave the comment below this article. Thank you for reading and be safe when vacationing in Mexico and always think safety.