Exchanging Dollars for Pesos ?

[mestrezat]

This may be a bit off topic for this forum, but does anyone have any idea as to wether you can still change US $ in for Pesos in Mexico. When we left, we heard that there had been a ban on doing exchanges to try and stop drug folks from laundering their money. As we are planning on heading back in a few days, I want to make sure the US $ I'm taking back can get changed once we get there.

[vintageray]

I think that must only apply to large bank transactions. I'm sure unless you are talking about a large amount of money the local casa de cambio will change it for you. I just sent several hundred dollars to Mexico via moneygram to be collected in Mex. Pesos down there.

[Morganministry]

I just use the american dollars there. The exchange rate isn't as good at the taco stands. (10-1) But most of the stores will actually calculate the daily rate and give you the correct change in pesos.

Scott

[GordMay]

It appears that the use of a debit or credit card will circumvent the $1,500 monthly cap.

MEXICO BANKING SYSTEM CAP ON EXCHANGE OF DOLLARS FOR PESOS

OFFICIAL STATEMENT
September 13, 2010

In order to regulate the quantity of dollars entering the Mexican banking system, beginning September 14, 2010, the Mexican government will cap the amount of dollars foreigners can exchange for pesos in Banks & Money Exchange Establishments to no more than US$1,500 per month.

The measure WILL NOT AFFECT purchases made with credit cards or debit cards in Mexico.

The measure WILL NOT AFFECT the amount of CASH (in Mexican pesos) an International Tourist can withdraw from an ATM machine on a daily or monthly basis.

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.

Source ➥ Attention Travelers! Mexico has Changed the Exchange Rules for US Dollars*|*Mexico Premiere