Current exchange rate

I got 17.5 Pesos per dollar for upcoming cruise.

What types of exchange rates did you get from vendors and restaurants recently.

Please pass along any negotiating tips that you found successful.

Thanks,

Sam

I got 17.5 Pesos per dollar for upcoming cruise.

What types of exchange rates did you get from vendors and restaurants recently.

 

Please pass along any negotiating tips that you found successful.

 

Thanks,

 

Sam

The best rates are given by ATM. Exchange rate can change by the day.

You can check the exchange rate at http://www.xe.com

It's 19 pesos to the dollar today. It dipped below 19 for a few days, but is back up again.

TO CLARIFY:

I understand about exchange rates.

My question is...

What are vendors CHARGING?

For example:

If they want $35 usd for parasail, do they ASK for 700 Pesos , or maybe 550 Pesos?

Please, I understand about the negotiation... I am asking what is being asked.

I doubt they adk equivelent of 20-1,

So I am asking your experience.

I also understand they accept USD.

In 10 cruises from getting 10-1 to this cruise of 17.5-1, I have ALWAYS saved 15-30 percent when using Pesos.

I agree on small purchases it may not be worth exchanging.

Our norm is spending 400-500 on excursions, taxis, food, tips , etc.

So saving , say $100 when spending 500 by using Pesos has always worked for us.

Blessings,

Sam

You've asked this on another thread and getting the same answers. Most vendor's rates are anywhere from 10:1 to 17:1

Rosefloater

Thank you

Yes, I have asked on another thread.

Unless senility has set in, I never got a response that you indicated.

But YOU have answered, and I appreciate it!!

So as you can see, if I paid 17.5-1 and can get between 10 and 17-1, the possibility of significant savings exists.

I was thinking since most answers were exchange at ATM, or Sams Club, or Cambio, then I was not clear on the question I was asking.

So, did you recently get a 10-1 exchange from a vendor??

That would be swesome

Blessings

Sam

At the moment most vendors will give 15 to 1. But of course this might change depending what the actual exchange rate is by the time you get here. The 20 to 1 is over for sure.

Rosefloater

 

Thank you

 

Yes, I have asked on another thread.

 

Unless senility has set in, I never got a response that you indicated.

 

But YOU have answered, and I appreciate it!!

 

So as you can see, if I paid 17.5-1 and can get between 10 and 17-1, the possibility of significant savings exists.

 

 

 

I was thinking since most answers were exchange at ATM, or Sams Club, or Cambio, then I was not clear on the question I was asking.

 

 

 

So, did you recently get a 10-1 exchange from a vendor??

 

That would be swesome

 

 

 

Blessings

 

 

 

Sam

Post 11 from your other thread.

It's a very fluid situation. There is no firm answer for you. The shops at the PV pier are usually about 1-2 pesos below par. PV WalMart historically has never been more than a peso off the official (XE.com) rate. Individual vendors will charge what the market will bear.

At times we've asked for pricing in both pesos and USD. We know how much we've paid for our pesos.

Restaurants have been ranging anywhere from 15 to 18 pesos to the USD. December and March in Ensenada. Cabo, La Paz, PV and Loreto in January.

Obviously, the more you buy from any one vendor the better the negotiation.

FWIW The USD is currently getting weaker.

ETA--there are several excellent threads on the Mexican Riviera board re: Pesos v Dollars.

http://boards.cruisecritic.com/showthread.php?p=52672419

Thanks SadieN

The thread that you mentioned had been moved.

I never figured out where it was moved too, until just now.

So I read the post that you copied.

I so appreciate how helpful this community can be.

Blessings,

Sam

So lets clarify some basic rules for those on cruise ships. The best rate (at any specific time) will be found by getting Pesos out of a Mexican ATM (we suggest only using bank ATMs). But even this is dependent on your own bank and whether they will add additional charges (ours ads no charge). In Puerto Vallarta you will normally be charged a fee (per transaction) of between 45-60 Pesos (depending on the bank). Many Mexican banks no longer want to exchange Pesos/dollars but there are Cambios (private money changing places) that will do any exchange....but not a particularly good rate.

Just about every Mexican vendor, taxi, bus driver, restaurant, etc. (in Mexican Ports) will accept US dollars (although you might be given change in Pesos). If you use dollars, they will either have a posted exchange rate (such as at Walmart and some restaurants) or it becomes a simple negotiation. You obviously want to try and negotiate a price (in Dollars) that is close to the current exchange rate (18.7 : 1 today). Given today's rate you ideally would want 18:1 although most vendors will want to give you somewhat less. Also consider that many restaurants and shops will accept MC/Visa...and if you have a credit card with no foreign exchange fee (such as CapitalOne) that is also a good option. Personally (we live in Puerto Vallarta a few months per year) we prefer to minimize our use of credit cards because there has been too much credit card fraud in Mexico (you will get your money back from your credit card company...but will also need a replacement card which is a hassle). While most of us who live in Mexico use Pesos, for cruisers you must weigh the convenience of getting Pesos (and possibly being stuck with some when you go home) versus just using dollars and paying a bit more (because of the exchange rate). Ironically, we noticed that a few bars in Puerto Vallarta actually give a better price if you pay for a beer in dollars versus Pesos. This can happen (depending on the current exchange rate) at bars/cafes such as the Cheeky Monkey, Sea Monkey, and a few other competitors. The prices are posted...but if you do not see a price (in dollars) you can certainly ask before you sit down or purchase anything.

The question is sometimes asked, "where do we find a bank ATM?" and our answer is that it "depends." There might be a bank ATM at your port, but no guarantee that its working. There are various bank ATMs scattered around each Port city although your best bet is to use a machine located right at any bank branch. There are many different banks around Mexico such as Banamex (part of the Citi family), Scotia Bank, HSBC, Aztec, etc. There are also numerous privately owned ATM machines that dispense Pesos and/or US Dollars. These machines are legit, but often have higher fees and not the best exchange rate.

Hank

One great irony of my trip in Feb to PV, (a week on land) was the jewelry store that sold my DW some earrings that actually gave me a better price in dollars than pesos. I jumped at her quote before she had a chance to recalculate. At that time the math was easy with a 20/1 ratio. The point is always ask for the price both ways and see what works best for you. With that single exception pesos were always the way to go. If you are only doing small purchases or a few tips then the convenience of using dollars may outweigh finding an ATM. Do remember to bring small bills, ones and fives for that purpose.

Moral of the story - always pay in pesos when dealing with vendors who do not accept cc (unless you don't care what exchange rate you get or as mentioned you're making a small purchase).

If you don't get pesos before the cruise use a debit card to withdraw pesos. There are ATM fees as well as possible fees from your bank, and you want to use a bank ATM when possible. And always check your bank statement for several months after your cruise. Our card was skimmed at a well-known ATM and they didn't use the number until 3 months later.

For frequent cruisers, Charles Schwabb offers a brokerage/debit card account that has zero ATM fees as well as no minimum balance or account fees.

One great irony of my trip in Feb to PV, (a week on land) was the jewelry store that sold my DW some earrings that actually gave me a better price in dollars than pesos. I jumped at her quote before she had a chance to recalculate. At that time the math was easy with a 20/1 ratio. The point is always ask for the price both ways and see what works best for you. With that single exception pesos were always the way to go. If you are only doing small purchases or a few tips then the convenience of using dollars may outweigh finding an ATM. Do remember to bring small bills, ones and fives for that purpose.

Good move. The dollar/peso rates were crazy this winter. At one point we were getting around 22:1 out of ATMs. By the time we left (to go home) in mid March the rate had dropped to 19:1. In our 11 years of living in PV (during the witner) we have never seen such volatility in rates....nor has anyone ever seen 22:1.....like we were getting back in January.

Hank

This morning Walmart gave 18.35 for the US$. which was a little bit better then beginning of this week.