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Mexico Travel - Swap your greenbacks for pesos or you'll pay the price

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CABO SAN LUCAS, Mexico -- If you feel safer using yourgreenbacks to pay for your purchases in Mexico, you're paying ahefty premium for your imagined security. While many stores, restaurants and bars in all but the smallesttowns generally accept U.S. currency in payment, you can be surethat little shopkeeper is smiling as you walk out his door! You just gave him a bonus - as much as ten percent - justbecause you paid in U.S. dollars. The International Monetary Fund currency exchange rate betweenthe U.S. dollar (USD) and the Mexican Peso (MXN) is about 10.50pesos to the dollar as of this writing, but that's not what youget from that nice little shopkeeper, sexy waitress or friendlybarkeep. Most establishments set their exchange rates 10% lower than thebank's rate to accommodate natural fluctuations in internationalcurrency markets. So, while the bank rate might be 10.50 pesosto the dollar, it's not uncommon for local businesses to giveonly 9.50 pesos to the dollar. The result: you end up paying 10 percent more for yourpurchases. If that doesn't sound like much, consider this.


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Ifthe average traveler to Mexico spends $2,000 USD during aone-week visit, that visitor could be paying an extra $200 USDif everything is paid in dollars. For reference purposes, the average Mexican worker is lucky tomake $100 a week, so the extra $200 you paid would cover thewages of a Mexican worker for two weeks! The moral of this story? When in Mexico, ALWAYS pay in pesos,and you'll get the cheapest price and save money. To find out how to get the very best currency exchange rate, andhow to get your travel cash in a foreign currency before youleave home, you'll want to check out the e-book, "50 Things YouMust Know Before You Travel to Mexico". The book contains vitalinformation for anyone planning to travel to, live in or retirein Mexico. For more information, go to:http://truestarpublishing.com/ART101/ About the author: James Truett, a former AP reporter, writes from his home in CaboSan Lucas, Mexico. His Mexico travelbook , " 50 Things You Must Know Before You Travel toMexico ," contains vital information for anyone traveling toMexico. For details, Click Here!

Written by: James Truett

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