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Exchange Rate-rounding?

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Franklin, Texas
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Exchange Rate-rounding?

Hi all! Will be in Isla this Saturday!!

As far as the current exchange rate goes...is it around 13 pesos to 1 dollar? Do you just kind of round to the nearest dollar or what?

Thanks.

Vancouver
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for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
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1. Re: Exchange Rate-rounding?

Depends

Are you wanting to use an ATM or exchange your US$ at a cambio or ??

The 13 to 1 is a rounded number that is close to the International currency exchange rate- only big banks get that rate

Franklin, Texas
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2. Re: Exchange Rate-rounding?

I really just want to know what you would be quoted at like a store or restaurant for the exchange rate. Do they round since it changes so much?

I just like to know what I am paying in US dollars when I give out my pesos. I can do the math in my head for leaving tips etc.

Just having a round number in my mind helps me to know what I am spending...

Raleigh
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3. Re: Exchange Rate-rounding?

It's probably closer to 12:1.

Trail, Canada
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4. Re: Exchange Rate-rounding?

There is always some reduction from the posted current rate , usually around one half percent .

Right now the number was 13.14 pesos to 1 US dollar . Less one half per cent or so for costs or more .

So something like 12.5 to 12.75 at an ATM , with variation by day and by ATM and your banks fees . If you bring pesos from home you can divide your pesos received by what you actually paid to find YOUR actual cost per peso . You can do this online with ATM withdrawls and on line banking when there .

Ontario
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5. Re: Exchange Rate-rounding?

"I really just want to know what you would be quoted at like a store or restaurant for the exchange rate."

They might give you 10:1.

Seattle
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6. Re: Exchange Rate-rounding?

An easier way is with the current exchange rate just figure $0.80 (actually it is $0.78 assuming 1.275 exchange) US for every 100 Peso's

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7. Re: Exchange Rate-rounding?

I just carry a small calculator everywhere to convert and use the rate I got at the bank when I exchanged my US dollars to pesos.....it's easier

Chicago, Illinois
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for Isla Mujeres
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8. Re: Exchange Rate-rounding?

I usually make a little laminated, credit card-sized cheat sheet based on what I actually paid for the pesos, especially if I got them in advance at home. If you use an ATM, the current rate might be close to 13-1 but there will be some fees involved, so your net is going to be lower. As cedarcrest says, if you figure a net meaning that your pesos are worth .08 each and don't want to make a cheat sheet, multiply pesos x .08 or divide dollars by .08 to get a ROUGH idea--you can use the calculator on your phone, for instance. But even with a cheat sheet we find that after a couple of days it becomes second nature.

Vancouver
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for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
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9. Re: Exchange Rate-rounding?

Exchange websites have free apps and rates you can print off on small cards

http://www.xe.com/currencyconverter/

Richmond, Texas
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10. Re: Exchange Rate-rounding?

I don't do math very well in my head anymore like I could do many years ago in highschool and college. We just use the old 10 to 1 ratio to get a quick, rough idea what the cost in dollars would be. Since the current rates are better than that, it means we are getting an even better deal.