Navigating Mexico as an LGBTQ+ traveler requires knowing the local customs, especially when it comes to finances, and understanding what currency is Mexico is your first step, and at gaymexico.net, we provide all the information you’ll need. The official currency is the Mexican Peso (MXN), which is widely accepted throughout the country and is essential for seamless transactions. So get ready to explore Mexico’s gay scene!
1. What Is the Official Currency of Mexico?
The official currency of Mexico is the Mexican Peso (MXN). It is crucial to use pesos for most transactions, although some tourist areas might accept US dollars. Familiarizing yourself with the peso will make your travel experience smoother and more enjoyable as a gay or lesbian traveler.
The Mexican Peso, symbolized by $, is divided into 100 centavos. Banknotes come in denominations of 20, 50, 100, 200, 500, and 1,000 pesos, while coins are available in 5, 10, 20, and 50 centavos, as well as 1, 2, 5, 10, and 20 pesos. Being acquainted with these denominations helps avoid confusion when making purchases in Mexico.
1.1 Why Use Mexican Pesos?
Using the local currency ensures you get the best exchange rates and simplifies transactions, particularly in smaller establishments and local markets. While larger hotels and businesses in tourist hotspots may accept US dollars, they often offer less favorable exchange rates.
1.2 Where Can I Exchange Currency?
You can exchange currency at:
- Airports: Convenient but often with less favorable exchange rates.
- Banks: Generally offer better rates, but may require an account.
- Currency Exchange Offices (Casas de Cambio): Widely available, especially in tourist areas, and often offer competitive rates.
- ATMs: A convenient way to withdraw pesos directly, but be aware of potential fees.
Be sure to compare rates and fees before exchanging your money to get the most value.
