Where to get the best exchange rate?
 

Hi, my parents are I will be travelling to Mexico City at the end of this month. Wondering where we would get the best exchange rate for our money. At the Mexico City airport, here back home (Toronto), or at the hotel? Is USD widely accepted there? I was told not to go to ATMs there due to robberies, so I want to be prepare.

Many thanks in advance!!!

On arrival change some cash at the airport. As you leave the intrernational section of the airport there are several exchange places. Take a moment to check the rates for whoever has the best exchange. Later I would advise using ATM's but only in secure inside locations. That will certainly get you the best exchange. Hotels generally do not give good exchange rates.

As always, ATMs and low/no fee Credit Cards.
M

For your peace of mind, in most Latin Amrican countries, ATM are located inside the bank (building), so there is lot more privacy and security. There will be lots of people like you using ATM at all time, so do not worry, but still be careful and always on the lookout.

I would not count on spending USD directly. Even if accepted it would certainly not be the best exchange rate.

As mentioned use ATM's - many are in the bank or in a glass phone-booth type situation so you go in with the door locking behind you.

If you want to for peace of mind certainly you can easily order peso from your bank at home, but again this is not where you get the best exchange rate and will most likely incur a fee even if you are a customer.

Don't necessarily discount the hotel front desk, on occasion I have stayed somewhere that matched the casa de cambios (change booths) rates.

Charge cards for major expenses like hotel or expensive restaurants are good for their exchange rate. But I would not count on being able to use them if you are in smaller villages or out-of-the-way local shops.

Yes there area many ATM scams in Mexico City, but using an ATM inside a bank is a safe option. Make sure you do all your ATM transactions during the day and when the bank branch is open just in case there is a problem with your transaction. Right now 11 Mexican Pesos for $1 U.S. dollar is the going rate.

I would also recommend the use of the ATM's. I do usually look for inside ones but have used one of many at the airport.
The rate today is 11.206 to the dollar.