What type of money is in Mexico City? This question is often asked by tourists and locals alike, as the city is a melting pot of cultures and currencies. Understanding the currency used in Mexico City is essential for anyone planning to visit or live there, as it affects daily transactions and the overall experience of navigating the vibrant city. In this article, we will explore the currency used in Mexico City and provide some tips on how to manage your finances while visiting this fascinating metropolis.
Mexico City, like the rest of Mexico, uses the Mexican Peso (MXN) as its official currency. The peso is divided into 100 centavos, and both coins and banknotes are in circulation. The most common denominations of coins are 5, 10, 20, and 50 centavos, as well as 1, 2, and 5 pesos. Banknotes come in denominations of 20, 50, 100, 200, 500, and 1,000 pesos.
When visiting Mexico City, it’s important to have Mexican pesos on hand, as many businesses and vendors may not accept foreign currencies. While it’s possible to use credit cards and ATMs in some areas, it’s still advisable to carry some cash for small purchases and when visiting less touristy areas.
One of the most convenient ways to obtain Mexican pesos is through ATMs. These can be found in abundance throughout the city, particularly in tourist areas and near banks. It’s important to note that ATMs often charge a fee for international transactions, so it’s a good idea to check with your bank before traveling to ensure you’re aware of any potential fees.
When using ATMs, be cautious of scams and always use ATMs located inside banks or well-lit, busy areas. Some ATMs in Mexico City have been known to be tampered with, so it’s crucial to inspect the machine before inserting your card and to keep an eye on your surroundings while using it.
Another option for obtaining pesos is through currency exchange offices, also known as “casas de cambio.” These can be found in most tourist areas and offer competitive exchange rates. However, it’s always a good idea to compare rates and fees before exchanging money, as some exchange offices may charge higher fees than others.
When shopping or dining in Mexico City, it’s customary to leave a tip, especially in restaurants. Tipping is generally around 10-15% of the total bill, but this can vary depending on the service provided. It’s important to note that many businesses in Mexico City do not include a service charge in the bill, so it’s up to the customer to add a tip if desired.
In conclusion, the type of money used in Mexico City is the Mexican Peso (MXN). While it’s possible to use credit cards and ATMs, having cash on hand is essential for navigating the city and making small purchases. Be cautious when obtaining pesos and always keep an eye on your finances to ensure a smooth and enjoyable experience in this bustling metropolis.
