Magic in Mexico
A country rich in colour, spice and elusive tequila-filled nights; Mexico is as enchanting as it is exquisite. Once you’ve had a taste of the vibrant Latino life, there’s nacho chance you’ll want to head home. So exchange those Aussie dollars to Mexican pesos, and get ready to go loco in Acapulco (which is also a great song, incidentally).
Peso coins and small notes will be your amigos in Mexico, with some businesses choosing not to accept larger bank notes. US dollars are only commonly accepted in the really touristy areas (like Cancun), so you’re best off sticking to the Mexican currency. Those peso coins will also come in handy for the scrumptious street food and sombreros you’ll want to buy while you’re busy exploring. Fancy joining in the traditional Día de los Muertos parade? Or sipping a Margarita on the pristine beaches of Cancun?
Don’t forget the most important saying to practice: por que no los dos? So you won’t ever have to choose between a hard or soft taco while you’re there.
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The chart shows how the currency is performing today in comparison to historical data. Political and world events can cause rates to fluctuate, so if you're after mucho more moolah for your Mexican holiday, it’s no problemo. You can sign up for currency alerts, which allow you to set the peso for the price you’d ideally like to buy, and we’ll tell you when it’s closer to your preference pronto.
Coins and notes
Before you jet off for your Spanish adventure, you’ll want to fill your wallet with as many peso coins and notes as possible. The MXN banknotes currently in circulation are $20, $50, $100, $200, $500 and $1,000. There’s 100 centavos in a peso and the coins available to you are 5c, 10c, 20c, 50c, $1, $2, $5, $10 and $20. The 5c, $20 and $1,000 pieces are rarely used, so no need to bother stocking up on them – the locals will say muchas gracias for it.
Facts about the currency
- Generally, pesos are only accepted within Mexico (though there has been some controversy of US border establishments accepting them). So use all your MXN cash during your stay, or visit us when you get home to exchange it back to AUD.
- The Mexican peso is the most traded currency in Latin America and the 8th most traded in the world.
- Interestingly, the Mexican peso was the first to use the dollar sign ($), even before the US did.
- The English translation of the Spanish word “peso” is “weight”, which referred to silver or gold weight.
- While US dollars are generally acceptable in Mexico, US coins are strictly not. Make sure not to accidentally tip with any US coins you might have or you’ll quickly become a persona non-grata in their establishment.