Mexico
Currency in Mexico: what to use and how to exchange
Mexico uses the Mexican peso (MXN), written $, roughly 17–20 per US$ in 2026. Withdraw pesos from a bank ATM on arrival and pay in pesos; bring a small US-dollar cash backup for ATMs that fail, and use cards in cities and resorts, cash in markets and small towns.
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GuideMexico
Key facts
- Currency
- Mexican peso (MXN), symbol $; 100 centavos
- Ratecheck
- Roughly 17–20 MXN per US$ in 2026 — check the day's rate
- Best value
- Bank ATM withdrawal in pesos; decline the ATM's own conversion
- Cards
- Accepted in cities, resorts and chains; carry cash for markets, taxis and small towns
- Cash backupcheck
- US dollars widely accepted in border and resort areas, at a poor rate
- Coins
- Small coins useful for buses, toilets and tips
- Fake notescheck
- Check 200 and 500 peso notes; common at markets and late-night taxis
Details
The peso is the only legal tender. Prices are written with the same $ sign as the US dollar, so a menu reading "$120" means 120 pesos, not 120 dollars — about US$6–7 at 2026 rates. If a price looks absurdly high, it is probably in pesos and you are reading it wrong.
Get your first pesos from an ATM at the airport or in town rather than a bureau de change. Bank ATMs (BBVA, Banorte, Santander, Citibanamex, HSBC) give close to the interbank rate; the machine will offer to convert the withdrawal into your home currency, which adds a markup of several percent. Always choose to be charged in pesos and let your own bank do the conversion.
Cards work in Mexico City, Guadalajara, Monterrey, Cancún, Los Cabos and most mid-size tourist towns. Outside those, and in markets, fondas, colectivos and small hotels, cash is the norm. Carry a mix: a few hundred pesos in small notes for the day, plus a card for bigger bills.
US dollars are accepted in border cities and resort strips, but the rate is usually worse than an ATM. Euros and other currencies are harder to change outside airports and big cities. If you bring cash, bring US dollars, in clean unmarked notes.
Before you leave, tell your bank you are travelling and check its foreign transaction fee — often 0–3% per purchase. A card with no foreign fee plus a bank ATM is the cheapest combination for most trips.
| Method | Typical cost | When to use it |
|---|---|---|
| Bank ATM in pesos | Interbank rate plus your bank's fee | First stop after landing; every few days |
| Card purchase in pesos | Interbank rate plus 0–3% bank fee | Hotels, restaurants, supermarkets, fuel |
| Airport bureau de change | Several percent below interbank | Small amounts only, if no ATM works |
| US dollars cash | Poor rate, often 5–10% below | Border and resort areas as backup |
| Hotel front desk | Worst rate | Emergency only |
Rates and fees are 2026 estimates; check your own bank's terms.
Tips
Withdraw larger amounts less often: a fixed ATM fee hurts more on a 500-peso withdrawal than a 5,000-peso one. Keep the receipt until you have counted the notes.
Ask for small notes. A 500-peso note is hard to break at a market stall at 8am, and some vendors will claim they have no change.
Tipping is expected in restaurants, 10–15%, and MXN 20–50 for porters, cleaners and guides' helpers. Keep coins for this.
Check notes you receive in dim light, at markets and from taxis. Common tricks are a torn corner or a note swapped for a fake after you have paid.
If an ATM refuses your card, try another bank rather than the same machine twice. Some machines reject foreign cards outside business hours.
- Withdraw in pesos, decline conversion at the machine
- Carry MXN 200–500 in small notes daily
- Keep a US$100 backup for ATM failures
- Check your bank's foreign transaction fee before you fly
- Count change before you walk away
FAQ
Questions people ask
What currency is used in Mexico?
The Mexican peso (MXN), written with the $ symbol. It is the only legal tender. Roughly 17–20 pesos per US$ in 2026, so a 200-peso meal is about US$10–12. Check the rate before you travel.
Where is the best place to exchange money in Mexico?
A bank ATM in pesos, choosing to be charged in pesos rather than your home currency. Airport bureaux de change and hotel desks cost several percent more. Bring US dollars as a backup, not as your main money.
Is it better to bring cash or use a card in Mexico?
Both. Use a no-foreign-fee card in cities, resorts and chain businesses, and cash in markets, small towns, taxis and family-run places. Withdraw pesos from bank ATMs as you go rather than carrying a large amount of cash.
Deep dive
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