BANKING IN MEXICO
Mexico's currency is the Peso, and prices are indicated
by the "$" sign -- which should not be confused with the U.S.
dollar or other currency. The peso is divided into 100 centavos.
Coins come in denominations of 10, 20 and 50 centavos and one,
two, five, 10 and 20 pesos. Coins less than a peso are gold
colored. The 1, 2 and 5- peso coins are silver with a gold-colored
center. The 10 and 20 peso coins are gold colored with a silver-colored
center. Notes come in 20, 50, 100 and 200 pesos and as of November
2004, the 1,000-peso bill with the image of Miguel Hidalgo.
Exchange foreign currency at banks or at exchange houses (casas
de cambio). Exchange rates vary.
ATM machines offer easy access to cash. The machines are located
at all the major banks as well as airports, bus stations and
large grocery stores. Make sure you have your access number,
because most companies have a policy of not reporting the number
over the phone.
TIP -- Often you'll get a better rate if you exchange
currency instead of traveler's checks. The exchange rate is
particularly poor at hotels. |
