Exchange rate help

[yomaryjo]

We will be in CostaMaya in December and I am finalizing some transportation arrangements. I was quoted $950 pesos and then told that would be $95 USD. If I look on the internet, I find the exchange rate at .0741 which would make it about $70.00. Does anyone know what exchange rate is being used now in Costa Maya? Thanks for your replies. Yippee can't wait till December.........but confused.....:confused:

[welldone60]

The most often exchange rate quoted by vendors is 10 to 1. That said it has gone up and down with the economy. Just ask for the tour in US $ quote and go from there. They all take US$ every where in Costa Maya.

[yomaryjo]

The most often exchange rate quoted by vendors is 10 to 1. That said it has gone up and down with the economy. Just ask for the tour in US $ quote and go from there. They all take US$ every where in Costa Maya.

 

Thanks for the reply. That is what they did then - they said that 950 pesos was 95 USD. Wouldn't I be better then to pay in pesos when I get there and save myself about 30 USD due to the 7 to 1 actual exchange? Am I just overthinking this? Thanks for your help.

[crewsweeper]

The "official" exchange rate has been around 12 pesos to the dollar for about a year now. 1 peso = +/- 7.5 cents. that said, some vendors and local currency exchange places may try to charge a bit more to cover costs. Looks like they're making about $15 on your excursion if you pay them in US $. If you can charge this in pesos on a US credit card, you may get a better exchange rate when the bill comes due.

[yomaryjo]

Thanks for the info. I emailed them back and am now waiting for a reply to see if they will drop the price. Happy cruisin'.

[blue water dude]

All of the above is correct. 10-1 from most merchants, but around 12-1 in exchange places (cambios). If you taxi into town, the drop spot is Calle Cherna and the Malecon and there is a cambio there now. Just opened. Might even have an ATM. Not sure the rate but most in the Cancun area are around 12-1.

We will be in CostaMaya in December and I am finalizing some transportation arrangements. I was quoted $950 pesos and then told that would be $95 USD. If I look on the internet, I find the exchange rate at .0741 which would make it about $70.00. Does anyone know what exchange rate is being used now in Costa Maya? Thanks for your replies. Yippee can't wait till December.........but confused.....:confused:

[blindrid]

Was just down there last week. The rate is technically 13 with typical being about 12.

 

Every time I've been to MX, the vendors always use 10 since it's easier and to their advantage. I always "negotiate" to the going rate.

[Uncle Doug]

The current rate is 13 pesos to 1 USD. Most vendors quote the 10 to 1 and will list prices at that rate in both. That has been the going rate at the vendors booths for years. To take advantage of the real rate you would need to to stop off at one of the currency exchange booths. It is easier just to haggle them down. We usally start at 50% of the offered price and then settle at 70-80% which gets you in the ball park of the exchange rate.