Mexican Peso vs USD in Cabo

[JT888]

Do the gift shops and restaurants near the port in Cabo accept USD? Or we have to pay Peso? Are the things more expensive if we pay in USD (if convert into peso)? Thanks. 

[Mike45LC]

All of the stores [well, almost all] accept US $.  There is a small penalty, in that the exchange rates they give you stink.  I don't worry about that, and I pay the premium for the convenience.

 

The official exchange rate is close to US$1 = Mex$20.  So an item that costs M$98 should cost US$5 or so.  The store might charge US$7 or 8.  OK, if I am only buying a few items, not a big deal.  Not worth the hassle of changing US$100 into pesos and then having to deal with the Mex pesos later.

 

What I often do is to use the OXXO stores (Mexico's version of 7-11) as a small change currency exchange.  I'll buy some chips and sodas and pay with a US$20, and take my change in pesos.  The exchange rate at the OXXO is reasonable, and now I have US$10 or so in pesos.

 

[JT888]

Great! Thank you. 

[wheezedr]

When we stay in Mexico for a few days or more at a resort I will generally get Pesos for a variety of our activities.  When we cruise and are just in towns for a few hours I usually just use dollars since the hassle of finding and utilizing an ATM may be more trouble than the few extra dollars the poor exchange rate will cost.  Of course I bring any previous leftover Pesos to begin with.

[Ine]

The exchange rate isnot 20 Pesos for the US$ at the moment. I got 18 Pesos for the US$ today in Puerto Vallarta. Exchange rates change from time to time, Be aware vendors and restaurants also often give a little less.

[Rosefloater]

If you go to a cambio, you will need to show them your passport.

[Trish T]

On 2/23/2019 at 2:34 AM, Rosefloater said:

If you go to a cambio, you will need to show them your passport.

A copy of your Passport, does that work? 

[1964IceCreamLady]

I just ordered pesos from BofA.  Cheap except for shipping fee ($7.50?!?).  I assume any guide will prefer pesos to dollars, so for  tips I am using pesos.

[Hlitner]

Just a comment about Pesos.  We live in Puerto Vallarta (there now) for the winter and only use Pesos when in Mexico.  We only get our Pesos from bank ATMs and currently get a little better then 19 Pesos for the US Dollar.  For those that want to spend US Dollars (in PV or in Cabo) you will find that a majority of merchants/restaurants will give you around 17 Pesos to the dollar.  There are some exceptions (such as Walmart) where they do give you something closer to the real rate of exchange.  Bottom line for the Mexican Riviera is you can use US Dollars just about anywhere but are going to lose some money on every transaction.  For cruisers who are not actually spending that much cash, the amount lost is probably not a big deal.  Also keep in mind that credit cards (Visa and MC) without foreign exchange fees (such as CapitalOne) also give you an excellent exchange rate (better then 19:1).

 

Hank

[Mike45LC]

1 hour ago, Hlitner said:

Just a comment about Pesos.  …    For those that want to spend US Dollars (in PV or in Cabo) you will find that a majority of merchants/restaurants will give you around 17 Pesos to the dollar.  …    Bottom line for the Mexican Riviera is you can use US Dollars just about anywhere but are going to lose some money on every transaction.  For cruisers who are not actually spending that much cash, the amount lost is probably not a big deal.  

 

Hank

 

Hank, this is exactly my point.  Between the three ports, I will probably spend under $200 for cabs, t-shirts, snacks, board shorts, …  If I am given an exchange rate of 15 instead of 19, well, it won't add appreciably to the cost of the cruise!

 

If I am buying jewelry or art, I will use a credit card and will get a good exchange rate on that purchase.

 

 

[Qcruise]

Cabo is American pricing so don't expect any great deals......food and beverage will cost what you'd pay in any tourist beach town.  Your best "old Mexico" town IMO would be Mazatlan.......easy walk (blue line) into town square by the cathedral great food and drink......four beers chips and quac might run around twenty bucks.....enjoy