You'll find exchange houses everywhere in Cozumel. Look for the sign that say "Money Exchange".
Peso bills come in 10, 20, 50, 100, 200 and 500 denominations. The billsare different colors and easy to tell apart.
1,2, and 5 peso coins are round - silver with a golden center. 10 and 20peso coins are also round, but golden on the outside. Each smaller denominationround peso coin is physically smaller than higher denomination coins.
A peso is worth 100 centavos - just like a dollar is worth 100 pennies. Thecentavo pieces are one color and octagonal shaped and come in 10, 20 and50 denominations. These are actually rare to see, but becoming more common,so keep your cute little silver 10 centavos for souvenirs.
Mexico's currency is the Mexican Peso (sometimes referred to as the NewPeso (Nuevo Peso), since Mexico re-valued its currency in 1994. There are one hundred Mexican cents (Centavos) to every peso.
Some travelers to Mexico have old pesos lying around and wan to know whatthey are worth. Well, basically, not much...
1 new peso = 1000 old pesos
So 5000 in old pesos is worth 5 new pesos, about $0.50 US. Not exactly worthexchanging. The old peso is very common, so it there is no cash value forcollectors.
20 peso note. The newer version is made of plastic paper. Thereis also a 20 peso coin that is gold color.
50 peso note. This bill is commonly seen. The newer version is made of plasticpaper.
100 peso note. Probably the most common you'll see today.
200 peso note. Very commonly seen, especially in cash machines.
500 peso note. They are more difficult to obtain.
1000 peso note. Rarely seen. Few in circulation.
Most foreign currencies can be exchanged for Mexican pesos at moneyexchange places, which generally offer more flexible business hours and fasterservice.
Hotels offer the least favorable exchange rate, while the bestrate is available at money exchange places. Traveler checks can be cashedat a slightly lower rate than currency.
To check out the current exchange rates, click hereand follow the instructions.
Although Dollars are widely accepted in most Mexican tourist centers,we suggest that you use Mexican Pesos during your visit.
ATM machines are available all over town. Most of them only giveyou pesos, but some will ask you what you prefer. These machines give goodexchange rates. Some banks have a fee for the service that will be chargedto your account.
Visa, Mastercard, and American Express cards are widely accepted. Many establishments will charge you an additional 4%-8% above the cost ofthe service or goods you bought. Please check to see if there are additionalcosts before you use your card.
Mexican merchants will not accept a bill if it is even slightly tornor damaged. You need to watch the bills when you receive change to makesure you can use them again.
If your cash is stolen, there is not much you can do unless youhave an insurance policy. If so, you will need to get a police report tomake your claim.
If your credit card is stolen, you will need to call your bankor the credit card contact number and report it missing. Failure to do somay make you responsible for all charges relating to that card even if theyaren´t yours.
If you find anything that isn´t yours, please turn it into our office and we will do our best to return it to its rightful owner.
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