Help for a penny pincher..current rates

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ryanwhiskey
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Help for a penny pincher..current rates

Post by ryanwhiskey » Tue Dec 29, 2009 9:43 pm

What are the current exchange rates around town. (average) I realize they change a touch each day but...

1usd = ????
1 canadian = ????

I never know whether to bring Canadian or switch to US dollars here and take that. Or even try to order pesos. Giving the above info would help. Thanks in advance.

Also, cab ride from the airport to the Villa Del Palmar should cost what? I don't want to cross the bridge as it will be late at night and family with. Being late, shouldn't be the usual airport circus. Just want the going rate though for a family of 4, average amount of luggage. Hate stepping off a plane and starting the negotiations right away. So if I know the fair going rate, I'm ok with that. I can arrange through the hotel but I believe $20 should get the ride I need. Am I close here?

Thanks again.

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Exchanging to US Dollars?

Post by helenf » Tue Dec 29, 2009 11:33 pm

You should always try to use pesos in Mexico when possible. Pesos is their national currency. Use your ATM card while down in Mexico and you will get the best rates. As you refer to yourself as a "penny pincher" I definitely would not exchange to US dollars. You would be losing the exchange twice Cdn to US to pesos.

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Post by pvgemini » Wed Dec 30, 2009 12:07 am

you can check on banamex.com and bancomer.com for daily bank rates.

These rates are pretty close to what I got when I was down there in early December and used my ATM card at the ATM machines.

I calculated the exchange rate when I got home and figured that I got about 12.75 pesos for one USD.

Using the ATM machines is the best way to go, in my opinion. You can check with your local bank before you leave, to see if there are any fees for this.

Sally

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Post by katnsocal » Wed Dec 30, 2009 3:16 am

You will need to take a van as taxis only accomodate 3 passengers with luggage. It should be $352 pesos to zone 1 which is the zone VDP is in. You might want to check transportation throught this website which has very favorable reviews.

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Post by mikeypv » Wed Dec 30, 2009 7:04 am

We don't use atm's and always exchange cash at the cambios. I know that atms give a better rate. We exchanged money on Saturday and it was 12.00 pesos to the dollar and 11.00 pesos to the Cdn dollar. They are so close I don't think it matters what currency you exchange right now.

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Post by pvgemini » Wed Dec 30, 2009 4:32 pm

We frequently take a TAXI with four travelers, as opposed to a van. I guess it depends on how large the people are. We have one person sit in the front with the driver, and three of us in the back seat. It works out fine.

The taxi rates from the airport are fixed. If you go to the taxi booths, which are located just before you go outside the airport, you will see signs with the rates posted, for various zones. No need to negociate, other than to insist on a car rather than a van, since the van is more expensive. You can pay with dollars; don't need pesos.

The downside of using the cambios, in addition to getting a lower rate, is that you have to bring all that cash with you, which you risk misplacing or having stolen. If you use the ATM's, you can take out a few hundred dollars at a time (in pesos). I think a 1 peso difference in the exchange rate is significant. If I exchange $2000 USD at 12 versus 13 pesos, I get 2000 more pesos at the higher rate!! That could pay for a breakfast at Fredy's Tucan and a dinner at Cafe de Olla for a family of 4, complete with mimosas and pina coladas!!

Sally

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Post by ryanwhiskey » Thu Dec 31, 2009 12:15 pm

I too believe a one peso difference is significant. I had heard it was...

1 cdn = 10 peso
1 usd = 12 peso

At those conversion rates it is actually better to convert my cdn money here and take usd. Actually would work out to about $100 more in the end.

At 1cdn = 11 peso, things are pretty much the same. (if the usd is indeed 12)

As for the airport, I always remember guys trying to gouge me. If it's fixed...that's great. Don't remember it that way.

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Post by pvgemini » Thu Dec 31, 2009 5:04 pm

That is very interesting. I'm curious to hear from other Canadians about this strategy.

The rate is definitely around 12 (might even be just over 12) at the cambios. 12 pesos per 1 USD.

The Bancomer website exchange rate today is just over 13.

Sally

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Post by cabron » Thu Dec 31, 2009 5:50 pm

ATM yesterday was 12.75 for the US$

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Post by ryanwhiskey » Thu Dec 31, 2009 7:55 pm

Anyone have the us and cdn cambio rates today? Last chance to make up my mind.

The math at cambio rate of 1usd = 12 peso and 1 cdn = 10.

Let's say I have 107 Canadian dollars. This would buy me 100 us here at home.

100 usd would be 1200 pesos at these rates.

107 Canadian dollars would be 1070 pesos at these rates.

That's a 130 peso difference or just over 10 U.S. dollars. And that's on 100. Over a thousand, that's a hundred extra bucks!

Of course that's at the 12/10 conversion rate. Sounds like the ATM's are a good way to go as well.

Anyhow....coming Saturday...today's or even this weeks Cambio rates would be much appreciated.

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Post by chrisnick » Mon Jan 04, 2010 9:09 pm

Checked the rate today on the site given. The exchange is so close I don't see the point in converting to US first. USD1.06/CAD 1.00. I have exchanged a fair size amount in the airport in Winnipeg before I go and I have always had a great rate at any ATM. Seems to be the best as far as I can tell. I hate bothering with the money exchange and there are ATM's everywhere.

The way I figure when I'm on vacation there are probably a few bucks that are being thrown around carelessly anyway....Roxy's comes to mind....Can't wait!

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Post by GreatOwl » Wed Jan 20, 2010 2:48 am

today's rate is 12.65 I have been following it the past month. it hasn't really fluctuated much. Last year one place we purchased some items they also cashed travelers checks for 15.00

Some times if you purchase some thing you need or are looking for they do give you a better rate. I am anticipating using a a cambio. I never use the ATM's because of extra fees. I do agree that you should always use the local currency. It helps when you go to some of the places that will actually bargain prices.

Generally, hotels and banks are not a good place to get the best exchange rate. However, a few years ago, the Sheraton was actually giving better rates in their lobby for members than we could find any where else.

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Post by Shimano Penn » Fri Jan 22, 2010 9:14 pm

I was just there last weekend, rates varied from 11 to 12+ in shops and restaurants with restaurants giving the worst deals. Still I couldn't care less when a full meal at Mariscos Tino's with 2 apps and 2 drinks cost me $16 :roll: A few pesos here or there isn't gonna kill me. As for everyone's praise of using ATM's I found it hard to find one that actually worked or had any money in it. My best luck was the one at the small mercado municipal near La Bodegita.

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Post by GreatOwl » Mon Feb 08, 2010 12:34 pm

I have to agree. There is usually such a small difference that it doesn't make much sense to go hunting for long. We just returned early this morning and the rates these past two week ranged from a low of 12.00 and some of the cambio's to 12.65 at one restaurant. It was a reverse this year in that the Sheraton where we stay had the highest rate of exchange.

No Name Boutique was the place we got the highest exchange last year. They cashed Travelers Checks if you bought anything. We had purchased a couple of inexpensive sun visors and cashed several checks at an exchange rate of 15.00 that year. No one was close to that.

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