Mexican Currency
The national currency of Mexico is the Mexican peso. 1 Mexican peso equals 100 centavos. There are two forms of currency:
- Notes: denominations of 20, 50, 100, 200, 500(rare), and 1000(rare) pesos.
- Coins:
- Centavos: denominations of 5, 10, 20, and 50 centavos
- Pesos: denominations of 1, 5, 10, and 20 pesos
Exchange
The best way to exchange money when traveling in Mexico is using the network of cash machines (ATM) found throughout Mexico which lets you withdraw cash on a need only basis. Usually, the current wholesale bank rate on the day cash is withdrawn is used, which tends to be more favorable than the rates given at exchange bureaus or retail banks. However, foreign exchange fees and service charges may be charged by your home-bank.
If an ATM is not available, exchanging currency at an exchange bureau is usually more economical and convenient than retail banks which tend to offer a less favorable rate and also charge fee
Real Estate Buyers
If you are considering purchasing land in Mexico it’s very important to get proper representation.
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