Dollar Exchange Rate and Peso Prices

[deepsea21]

The first few streets of Cozumel that 99% of those who set foot on it from cruise ships and such is a tourist-based micro-economy based on those who are spending U.S. dollars. Most every business on Cozumel that is dependent on tourists prices in dollars and will "convert to pesos" based on the exchange rate at the time. Resorts, hotels, and dive ops whose customer base is all tourist driven price in dollars. As always, if travelers want to enjoy the benefit of a favorable exchange rate they need to trade in the local currency and spend that local currency outside of the "tourist" area.

 

[bcaderunr]

I'm in Coz right now. The Cambio on 30th/Juarez (and pretty much everyone else) is quoting 16.35. Mega will convert to dollars at 17.60. Prices in pesos are the same as they've always been. We caught a cab to downtown from just outside the airport for $3. A 6 liter bottle of water from Mega was $1.10. The 6-pack of Negra Leon cost $4.00. Venga, Amigo!

 

[scubafanatic]

US or Pesos, what an agonizing dilemma. Sorry, but not feeling much pity for my American tourist friends.

There have been ample times in the past when the Canadian loonie was riding high and Canadians enjoyed those benefits in those times, so don't be too jealous of the Americans. Economic cycles come and go, Canada enjoyed it's turn when China was 'hot', but now that Chinese growth is moderating, the Canadian economy, which is highly dependent on extracting/exporting 'natural resources' ( oil, etc.) will feel the impact of those slowing exports...at least until the 'cycle' repeats in future.

 

[Karloss]

Where is the best place to find current exchange rates??

 

[DandyDon]

Where is the best place to find current exchange rates??

Wall Street Journal Exchange Rates: New York Closing - Markets Data Center - WSJ.com
or Google

 

[gopbroek]

Where is the best place to find current exchange rates??

There are several out there but I like OANDA, they are in the business of currency trading. Currency Converter | Foreign Exchange Rates | OANDA

 

[mediumone]

Where is the best place to find current exchange rates??

XE Currency Converter - Live Rates

 

[DandyDon]

There are several out there but I like OANDA, they are in the business of currency trading. Currency Converter | Foreign Exchange Rates | OANDA

About the same rate as google, but more official.

 

[El Graduado]

I didn't notice any price increases this year other than gas.

Actually, the price of gasoline on Cozumel went down on January 1.

In December, magna (regular) was 11.748860 pesos plus 16% IVA. In January, it went down to 11.395434 pesos plus 16% tax.

 

[driftwood]

US or Pesos, what an agonizing dilemma. Sorry, but not feeling much pity for my American tourist friends.

The only reason I can see why the Canadian dollar gets such a poor exchange rate in Mexico is that it must be more expensive for the banks to exchange it back into pesos.