What type of money will you need in Mexico? A complete guide

Currency in Mexico: A complete guide

Euro Money Exchange
March 03, 2025
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Traveling to Mexico is an unforgettable experience, and making sure you have the right currency will make your purchases, payments, and daily transactions easier. If you’re planning your next visit, it’s important to consider where and how to exchange currency to get the best exchange rate and avoid financial inconveniences. In this article, we will answer a common question among travelers: what type of money will you need in Mexico? Below, we will explain everything you need to know about the Mexican currency, the best options for exchanging money, and some practical tips for handling your cash safely.

What is the official currency of Mexico?

The Mexican peso (MXN) is the official currency of Mexico. It’s symbolized by ‘$’ and internationally identified as MXN. Currently circulating banknotes come in denominations of 20, 50, 100, 200, 500, and 1000 pesos, while coins range from 50 cents to 10 pesos.Recognizing bills and coins is crucial to avoiding confusion and fraud. Mexican banknotes feature vibrant designs with historical figures and cultural elements, while the latest series incorporates security features like watermarks, embossed details, and fluorescent elements to deter counterfeiting.The country’s central bank oversees currency issuance and regulation, ensuring its stability and authenticity. Familiarizing yourself with these aspects will help you identify bills and avoid issues while visiting.May be interested in: What you need for international travel: A complete checklist

Payment and tipping customs in Mexico

Tipping is a common practice in Mexico, especially in restaurants, hotels, and bars. The standard tipping rate ranges from 10% to 15% of the total bill, depending on the quality of service. Some restaurants automatically include a service charge, so be sure to check your bill before leaving an additional tip.For taxis and ride-sharing services like Uber, tipping is not mandatory but is always appreciated, especially for excellent service. Hotel staff, such as bellboys and housekeeping personnel, typically receive tips for their assistance.

Is it better to bring dollars or pesos to Mexico?

While some tourist areas accept U.S. dollars, the exchange rate offered in stores is often unfavorable. To avoid additional costs, it’s recommended to pay in pesos. Exchanging a reasonable amount before traveling will help you avoid high rates at hotels or airports.Cash remains essential for smaller towns, markets, and local businesses, where foreign currency is rarely accepted. Carrying pesos will ensure smoother transactions and better value for your money.

Where can you exchange money in Mexico?

Although credit and debit cards are widely accepted at hotels, restaurants, and major stores, cash is essential for small businesses, public transportation, and local markets. When exchanging foreign currency, consider these secure options to obtain Mexican money:

Currency Exchange Houses: These establishments offer competitive rates and quick transactions. A reliable choice is Euro Money Exchange, where you can exchange money securely with excellent customer service. Our website provides real-time exchange rates and a virtual calculator for easy conversions.
Banks: They typically offer fair exchange rates, but the process can be slower and requires official identification. Some banks only provide this service to account holders, so it’s best to check their policies in advance.
Airports & Hotels: While convenient, these locations often have less favorable rates. It’s best to exchange only a small amount here and find better options in the city. Some hotels may also charge additional fees.
ATMs: Withdrawing cash in local currency is practical, but be sure to check your bank’s international transaction fees, as they may apply additional charges. To minimize costs, withdraw larger amounts in a single transaction.

Essential tips for handling money safely

Avoid street exchanges: Stick to reputable providers like Euro Money Exchange to prevent scams.
Check the exchange rate daily: Before making a transaction, verify the current rate to get the best value. You can find real-time rates on our website.
Carry different denominations: This will help when shopping at smaller businesses that may have limited change.
Use a mix of cash and cards: Some stores offer discounts for cash payments.
Store money in different places: This reduces the risk in case of loss or theft.
Notify your bank before traveling: Some financial institutions block international transactions unless notified beforehand.
Utilize a secure wallet: Avoid displaying large amounts of cash in public to prevent theft.

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Apps and tools to track exchange rates in real time

To ensure the best exchange rate for Mexican pesos, consider using these mobile applications:

XE Currency: Provides live exchange rates and easy currency conversions.
Google Currency Converter: A quick way to check rates.
Banking Apps: Many banks offer integrated currency converters and rate alerts.
Remitly & Wise: Show exchange rates and allow international money transfers with low fees.
ATM Fee Saver: Helps locate ATMs with the lowest withdrawal fees nearby.

Now that you know everything about Mexico’s currency—where to exchange it and how to manage your cash wisely—you can enjoy your trip stress-free. Planning ahead will help you avoid unnecessary expenses and ensure smooth transactions. Travel smart & enjoy Mexico without financial worries!Make the most of your international transactions by choosing Euro Money Exchange as your trusted provider. With our competitive rates and exceptional customer service, we’ll help you navigate the world of exchange rates with ease. Contact us today and start optimizing your financial operations!Euromoney Exchange Carousel