Where to get the best exchange rate?

Old Feb 7th, 2005, 01:39 PM
  #1  
Original Poster
 
Join Date: Feb 2005
Posts: 7
Likes: 0
Received 0 Likes on 0 Posts
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!!!
leecube is offline  
Old Feb 7th, 2005, 02:02 PM
  #2  
 
Join Date: Jan 2003
Posts: 909
Likes: 0
Received 0 Likes on 0 Posts
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.
Dude is offline  
Old Feb 7th, 2005, 06:39 PM
  #3  
 
Join Date: Mar 2004
Posts: 5,869
Likes: 0
Received 0 Likes on 0 Posts
As always, ATMs and low/no fee Credit Cards.
M
mikemo is offline  
Old Feb 8th, 2005, 06:29 AM
  #4  
 
Join Date: Mar 2004
Posts: 587
Likes: 0
Received 0 Likes on 0 Posts
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.
miguelgcuadra is offline  
Old Feb 8th, 2005, 07:36 AM
  #5  
 
Join Date: Jan 2003
Posts: 97,107
Received 12 Likes on 11 Posts
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.
suze is offline  
Old Feb 8th, 2005, 10:20 AM
  #6  
 
Join Date: Jun 2003
Posts: 270
Likes: 0
Received 0 Likes on 0 Posts
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.
PONCHOTJ is offline  
Old Feb 8th, 2005, 03:46 PM
  #7  
 
Join Date: Jan 2003
Posts: 411
Likes: 0
Received 0 Likes on 0 Posts
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.
RobertSDF is offline  
Related Topics
Thread
Original Poster
Forum
Replies
Last Post
dhlemaistre
Europe
14
Aug 7th, 2016 07:15 AM
Scarabocchio
Europe
14
Apr 8th, 2012 10:38 AM
robyn_tania
Europe
13
May 15th, 2007 09:56 PM
angellynn
Caribbean Islands
10
Jul 19th, 2005 12:36 PM
Thomas
Europe
26
Jun 4th, 2004 08:39 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


Thread Tools
Search this Thread

Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Do Not Sell or Share My Personal Information -