I am heading to Cancun for the first<BR>time later this month, and I have<BR>heard conflicting reports about <BR>exchanging money. One friend said<BR>that most merchants want US$ over<BR>the peso.<BR><BR>Should I convert my US$ before I go<BR>or am I able to use the US$??<BR><BR>Thanks for the help!<BR><BR>PS - Any recommendations on must go<BR>to bars or rest let me know. My wife<BR>and I prefer a more local tiki hut to <BR>the ultra glitzy discos

I think that in the past, Mexicans may have wanted US dollars. That may not be the case now. The peso has increased in value over the last year compared to the US dollar. I'm Canadian, but a few years ago, I used to think in terms of approximately 10 pesos to the USD (it was actually a little less). Now, I believe it's probably 8 and change. (Let's not even talk about what it is for Canadian dollars!)<BR><BR>Another thing to consider is that you'll always get your change in pesos. The guy taking your money will probably not have current up to the minute exchange rates, so he'll probably round down, and you'll end up spending more. To me, it's just easier all around to use pesos. ATM machines are everywhere. While there will be a fee associated with using them, I think it's a lot safer than carrying around a lot of money. (The fee at my bank in Canada was $3 CAD for each withdrawal.) I also use my visa card whenever I can.

Actual current rate is more like 9.1 to 9.3 peso to US dollar. To answer your last question - neither! No need to convert ahead of time, expensive and not necessary, but don't plan on using US dollars for daily purchases.<BR><BR>Do this: Take US cash and change it into peso at any casa de cambio (change window) or bank. Or use your ATM card to withdraw peso (the fee amount depends on your home bank for international transaction). You are in Mexico, the currency is peso... go with that.

Sorry, that was a typo - I meant 9 and change, not 8 and change.

Went to Cancun last Christmas. Some restaurants and stores accept dollars but still carried pesos for small purchases. And one tip, you'll get more for your money if you convert your US$ dollars to pesos in Mexico than doing it here. 1$=around 8.3 pesos here with a $5 charge for the transaction. Arrived in Mexico and saw the exchange rate at the airport to be 9.1 pesos. So wait till you get there.