The Mexico Guides

Mexico Currency: Pesos, ATMs, and Paying in Mexico

· 3 min read Practical
Mexican peso notes — currency guide for visitors

Contents

  1. Exchange rate
  2. Best ways to get pesos
  3. Should you use US dollars?
  4. Coins and notes in circulation
  5. Tipping

Mexico’s currency is the Mexican peso (MXN). The symbol is $ — which causes confusion because Mexican prices quoted as ”$” are in pesos, not US dollars, unless otherwise specified. Always confirm which currency is being quoted.

Exchange rate

The peso floats freely against major currencies. Approximate mid-2026 rates:

  • USD 1 ≈ MXN 17–19
  • GBP 1 ≈ MXN 22–25
  • EUR 1 ≈ MXN 18–21

Rates vary daily — check Google or a currency app (XE.com) for the current rate before you exchange.

Best ways to get pesos

ATMs in Mexico (recommended): withdraw pesos directly from Mexican ATMs using your debit or credit card. You get a wholesale exchange rate, which is better than any currency exchange. Recommended ATMs: HSBC, Banamex (Citibanamex), and Santander. Avoid independent (non-bank) ATMs at convenience stores or in tourist areas — they charge higher fees and have occasional skimming incidents.

Typical ATM fee: MXN 35–65 per withdrawal plus any fee charged by your home bank. Withdraw in larger amounts to reduce the per-transaction cost.

Notify your bank before travel — otherwise, your card may be blocked when used in Mexico.

Credit cards: widely accepted in cities, hotels, larger restaurants, and tourist areas. Less reliable at markets, street food stalls, colectivos, and smaller towns. Visa and Mastercard are most accepted; American Express has lower acceptance in Mexico.

Currency exchange bureaux (casas de cambio): available at airports, downtown areas, and in tourist zones. Rates are worse than ATMs by 3–8%. The airport exchange kiosks are the worst rate available; only use them if you need pesos immediately and there’s no ATM nearby.

Should you use US dollars?

USD is widely accepted in Cancún, Playa del Carmen, Los Cabos, and other heavily visited tourist areas — but always at an exchange rate unfavourable to you. If a price is quoted in dollars and you pay in dollars, you’re effectively paying a 5–10% surcharge compared to paying the peso equivalent. Pay in pesos wherever possible.

Exception: some hotels, tour operators, and upscale restaurants in tourist zones quote prices in dollars and accept dollar payments at a published rate. Check whether the rate offered is reasonable before agreeing.

Coins and notes in circulation

Notes: MXN 1,000 / 500 / 200 / 100 / 50 / 20 Coins: MXN 10 / 5 / 2 / 1 / 50 centavos / 10 centavos

The MXN 500 and 1,000 notes are rarely accepted at small street vendors and markets (too large to change). Withdraw in MXN 200 or 100 denominations and break large notes at supermarkets or OXXO stores.

Tipping

Mexico has a tipping culture:

  • Restaurants: 10–15% is standard; 15–20% at upscale restaurants
  • Taxi drivers: rounding up is sufficient; not obligatory
  • Tour guides: MXN 100–200 per person for a half-day tour
  • Hotel staff (porters, housekeeping): MXN 50–100
  • Gas station attendants (who pump your fuel): MXN 10–20

Cash tips in pesos are preferred. Card tip options are available at many restaurants but staff don’t always receive these directly.