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Currency

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Manitoba, Canada
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538 posts
2 reviews
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Currency

Hi All

As I am sitting at my computer dreaming of January (well two weeks of it anyways) I got to wondering what currecy works best in Manzanillo.

Last year in Maya we had a harder time breaking anything over a twenty at many stores. What is the preference?

Thanks

Jubes

Queretaro City...
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14,503 posts
10 reviews
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1. Re: Currency

You should use pesos. It is easiest to do this by simply withdrawing pesos from an ATM machine.

Manzanillo
Destination Expert
for Manzanillo
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519 posts
12 reviews
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2. Re: Currency

Yes, Steve is absolutely correct.

This is Mexico and the currency here is pesos.

All ATM's disperse them and everyone accepts them.

Have fun!!

Manzanillo, Mexico
7 posts
1 review
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3. Re: Currency

EDITED TO ADD: Just realized you're from Canada. If you do decide to bring cash, exchange it for USD before you leave Canada. The exchange rate for Canadian $ is abysmal.

original post:

Walmart takes dollars, as do the convenience stores Oxxo, but you're really best off taking money out of an ATM once you get here and using your credit card for purchases where possible. I live here and my income is still in dollars and I just withdraw my money from one of the dozens of ATMs around town. Do NOT bring a bunch of cash with you, as the money exchange places are a ripoff, as they are in most places.

I have always gotten the best rates with my debit card. Walmart generally has the very best exchange rate for dollars and you can buy something for a couple of dollars and if you pay with a 100 dollar bill, they'll give you the change in pesos, another way to get around the low rates offered by the money exchanges.

There must be 20 banks in this town, it's not at all hard to find one. There's a Bancomer within walking distance of the Karmina and Banamex is a short taxi ride away, as is Santander.

January is a great time to come here, be sure to bring a light sweater, as the nights can get chilly, sometimes as low as the high 60's, but the days are always warm enough for shorts. Really the best weather of the year.

Send me a message if you have any questions.

Edited: 11 July 2010, 14:32
Saskatoon, Canada
Destination Expert
for Manzanillo, Saskatoon
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1,467 posts
18 reviews
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4. Re: Currency

We found exactly the opposite; we lost money on the exchange from CDN to USD to pesos; the best exchange rates we got were from withdrawing money from our Canadian accounts from the ATM's.

Manzanillo, Mexico
7 posts
1 review
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5. Re: Currency

I was referring to cash only, you're correct about the best rate being that from an ATM or credit card transaction. If one must bring cash, it's best to bring USD. Buying pesos outside of Mexico is a huge loser.

Saskatoon, Canada
Destination Expert
for Manzanillo, Saskatoon
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1,467 posts
18 reviews
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6. Re: Currency

I think you're probably right, in general, but I'm just saying that our experience was different, even with the cash conversions.

Before we left Canada, I bought 1000 pesos, and it cost me $87.46 CDN. When we were in Manzanillo, I used my bank card to withdraw 1000 pesos from my account, and it cost me $83.82 CDN.

Also before we left, I bought $100.00 US, which cost us $109.68 CDN.

When we were in ZLO, most vendors would only give us 10 pesos to the US dollar, and our hotel's posted exchange rate gave us 12 pesos per US dollar. At that rate, 1200 pesos would have cost us $109.68 CDN, which is worse than just buying pesos in Canada. We probably could have spent time wandering around looking for someplace with a better rate, but it wasn't worth it to us.

We decided to see if we could use the USD at the flea market; some vendors accepted USD, some did not.

7. Re: Currency

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