2016
9
September
How Will the Slumping Canadian Dollar Affect Prices in Mexico for Travelers?
9
September
Question:
Humans say...
Jeannett
The peso is still strong against the CND $ and is not affected. Bought today at a rate of 12p to 1$. It's the same as it has been for years. The j my bummer is most accommodation is USD but spend away. Go to vbce. 3 locations.
Jeannett
We can also buy direct from the Scotiabank ABM and market rate while in PV and no fees.
Samuel
best place to look for exchange rates
In fact the Loonie is doing better against the Peso
http://www.x-rates.com/graph/?from=CAD&to=MXN&amount=1
X-RATES.COM
Exchange Rates Graph (Canadian Dollar, Mexican Peso) - X-Rates
Jeannett
Xe.com is my go to
XE.COM
XE - The World's Trusted Currency Authority
Samuel
Biggest thing with Mexico is a lot of the big resorts do everything in US currency. So plan to stay where they operate on the Peso
Jeannett
Big resorts are gross get a cool condo or house and enjoy the real Mexico
Jo-Anne
Just take your debit card. You get the best bank to bank exchange that way. It take CAD out of your account, and spits our pesos. Perfect.
Lene
We ordered ours through Scotiabank. 12 p per can $. Cheaper than at the airport currency exchange. Easy to access at banks with your debit card too
Maggie
Thanks everyone, I feel much better.
Sharron
Just returned. Got the same rate at hotel as we could get here. The beach stands quite liked Canadian. We took peso and Canadian. Used Canadian where we could but tipped, etc in peso.
Tonya
Hi Maggie
Maggie
Tonya come visit. We miss you.
Karen
you are travelling to Mexico, not the US. either bring Pesos or use your bank card at a Banamex or Bancomer ATM to convert CDN to Pesos and bypass all use of USD. tip in pesos if you are in an all inclusive as it is their currency. The CDN $$ is still 12/13 to one. don't waste your money converting to USD then into pesos.
A.I. says...
Navigating the Slumping Canadian Dollar and Exchanging Funds for Mexico
If you're planning a trip to Zihuatanejo, Mexico, at the end of February with limited funds, the current exchange rate between the Canadian dollar and the Mexican peso can significantly impact your budget. Here's some advice to help you make the most of your meagre funds.
The Effect of the Slumping Canadian Dollar on Prices in Mexico
When the Canadian dollar weakens against the Mexican peso, it means your purchasing power in Mexico decreases. In other words, you'll get fewer pesos for your Canadian dollars, making goods and services in Mexico relatively more expensive for Canadian travelers.
However, it's important to note that Mexico is still generally an affordable destination for Canadians, even with a weaker Canadian dollar. Many expenses, such as accommodation, local transportation, and dining at local restaurants, remain reasonably priced.
Strategies for Exchanging Currency for Mexico
To minimize the impact of the exchange rate and ensure you get the most value for your Canadian dollars, consider the following strategies:
1. Exchange Currency Beforehand
Avoid exchanging money at airports or hotels, as they often offer poor exchange rates and charge high fees. Instead, exchange a portion of your funds at a bank or foreign exchange service in Canada before your trip. This way, you'll have some Mexican pesos on hand upon arrival.
2. Use ATMs in Mexico
While in Mexico, use ATMs affiliated with major banks to withdraw Mexican pesos. ATMs typically offer better exchange rates than currency exchange booths or hotels. However, be sure to check with your Canadian bank about potential fees for international ATM withdrawals.
3. Use a No-Fee Credit Card
Consider using a no-foreign-transaction-fee credit card for purchases in Mexico. Many credit cards offer competitive exchange rates and eliminate the need to carry large amounts of cash. Just be mindful of any potential interest charges if you don't pay off your balance in full.
Final Thoughts
While the slumping Canadian dollar can impact your budget in Mexico, being mindful of exchange rates and using strategies like exchanging currency beforehand, using ATMs, and relying on a no-fee credit card can help you stretch your funds further. With careful planning, you can still enjoy an affordable and memorable trip to Zihuatanejo, even with meagre funds.
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Maggie
Could anyone give me some advise regarding exchange of the slumping Canadian dollar and effect on prices in Mexico? I am planning to go to Zihuat. At the end of Feb. with meagre funds. Also can anyone advise what is the easiest and less expensive way to take currency (peso's) to Mexico.