USD To MXN: Convert United States Dollar to Mexican Peso - Forbes Advisor (2024)

FAQs

USD To MXN: Convert United States Dollar to Mexican Peso - Forbes Advisor? ›

1 USD = 17.207562 MXN Apr 26, 2024 02:27 UTC

The best place to exchange currency in Mexico is at a large bank or select ATMs. Both options will use the 'real' exchange rate, also known as the mid-market exchange rate. It's the midpoint between the buy and sell rate in global currency markets.

It is recommended that all travelers bring Mexican pesos as well as their credit and/or debit cards to minimize any inconvenience the exchange cap at banks may cause. Basically, the rule is specifically aimed at reducing large exchanges of physical US dollars for physical Mexican pesos.

Latest Currency Exchange Rates: 1 US Dollar = 17.0784 Mexican Peso. On this page convert USD to MXN using live currency rates as of 25/04/2024 01:56.

BBVA bank's peso forecast for 2024 puts next year's rate squarely at 18-to1. Citibanamex analysts project 2024 to close out around 19-to-1. And Commerzbank analyst Esther Reichelt has recently pointed to two factors to justify her forecast of 18-to-1 by the end of 2024: Upcoming Mexican elections.

Head to your bank or credit union before you leave to avoid paying ATM transaction costs. You may even receive a better exchange rate. Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them.

Banks, credit unions, online bureaus, and currency converters provide convenient and often inexpensive currency exchange services. Once on foreign soil, the best means to convert currency is to use a foreign automated teller machine (ATM) or identify whether your bank has ATMs or banking affiliates nearby.

Enough money for your taxi from the airport, something to eat or a couple of ice-cold beers or co*cktails on arrival. Let's say around $200 – $300 dollars… this will give you around $3500 – $5500 pesos. That'll be plenty.

The national currency in Mexico is the Mexican Peso (MXN). However the US Dollar is widely accepted across Mexico especially in the more touristic places like Playa del Carmen. In fact most tour companies, restaurants, and even some shops will have their prices in both pesos and dollars.

100 pesos goes pretty far while traveling in Mexico

In US dollars, 100 pesos is the equivalent of just over six dollars. Fortunately for travelers, there's plenty you can buy with this amount, from food to attractions to transportation.

Is $100 American dollars a lot in Mexico? ›

$100 USD in Mexico can go a long way, covering various activities, food, drinks, and accommodations. $100 can buy you a week of experiences in Mexico, from dining out to guided tours and beach hotels. From huaraches to doctor's visits, tacos, and car rentals, $100 can provide a diverse Mexican experience.

Reasons for Continued Peso Strength:

Interest Rates: Mexico's central bank (Banxico) has kept rates much higher than those in the US and other developed economies. At its most recent policy meeting on February 8, rates were left unchanged at 11.25%, maintaining a 600 basis point advantage compared to the US.

The Mexican Peso (MXN) lost ground late on Friday against the US Dollar (USD) after both central banks, the Federal Reserve (Fed) and the Bank of Mexico (Banxico), decided to hold and cut interest rates amid their separate disinflation evolutions.

Fresh off its biggest annual gain in over two decades last year, the peso has climbed 1.8% against the dollar this year. It now trades at about 16.69 per dollar, near the strongest since 2015.

MONEY EXCHANGE

The short answer is ABSOLUTELY YES, you need Mexican Pesos. You will need pesos for tips, souvenirs shopping, transportation like taxi/buses, tours, bar/restaurants, etc.

Check the exchange rate before traveling: it's a good idea to hold on to your US dollars if the exchange rate at a particular shop, hotel or restaurant is 21 pesos or fewer to the dollar. If the exchange rate is more than 21 pesos to the dollar, you'll want to withdraw pesos from an ATM and use them instead.