Restriction of Dollars

[Seadweller]

Has anyone else heard anything about the possible new law that will restrict the use of dollars in Mexico??? A friend just called and said they heard a report about it on Mexican News...

it's a good thing I don't have any dollars, and have been using pesos all the time...

 

[Terry C]

Mexico to Issue New Dollar Deposit Rules Next Week. I could only find this Mark

http://www.businessweek.com/news/2010-05-25/mexico-to-issue-new-dollar-deposit-rules-next-week-update2-.html

 

[mexicoruss]

I closed my dollar accounts last month as it is almost impossible to deposit dollars, the funny thing is though that the Empenos and the Money change houses still take however much you want to give them

 

[Seadweller]

Thanks Terry... I kind of thought it was an effort to stop money laundering and drug trafficing...

 

[rockyptjoe]

That will make it interesting for the local businesses that depend on the tourist $$$. Are they going to require you to pay in pesos?

I know I've had trouble exchanging dollars to pesos the last few times....even at the cambios at the border (by the Pemex down the hill). There was only one local bank in Penasco that I could find that was doing it, and I had to provide my passport for them to copy. The cambio on Calle 13 that I used was a rip.....gave me about half a peso less per dollar than the banks .

I also wonder if that will effect the atm's?

 

[mexicoruss]

Its business as usual dollars will always be accepted, just the amount you can deposit will be restricted and I beleiev there is a fee for certain amounts of dollars deposited. I simply use my dollars for purchases and dont deposit them any more

 

[Terry C]

The AZ paper say’s the exchange rate is like 12.9 to the dollar. In Sonoyta at the beer store it is 11.1 to the dollar. Why is that?

Is it best to spen peso's or dollars? I've never really thought much about it.

 

[mexicoruss]

It really depends what you are buying. When I am buying locally I use pesos or my peso debit card, if I buy a beer at a tourist bar I use dollars . Rule of thumb, when its priced in dollars (IE Tourist places) use dollars, when it is priced in Pesos (Super Ley, Gas station, Tiendas) pay in pesos.

 

[rockyptjoe]

It really depends what you are buying. When I am buying locally I use pesos or my peso debit card, if I buy a beer at a tourist bar I use dollars . Rule of thumb, when its priced in dollars (IE Tourist places) use dollars, when it is priced in Pesos (Super Ley, Gas station, Tiendas) pay in pesos.

When I've bought at the Super Ley,I use dollars or my US atm card, and the exchange rate seemed to be just about what the banks have posted.....has that changed recently?

 

[mexicoruss]

When I've bought at the Super Ley,I use dollars or my US atm card, and the exchange rate seemed to be just about what the banks have posted.....has that changed recently?

No Ley is very fair as is Salmos and Numeros but some of the independent vendors make a little markup on the exchange rate which is fine based on the low cost of most of the goods. I have a peso account with a debit card and I know exactly how much I paid for the pesos I bought tons of them at 15.6 to one so it is easier to use me mex debit card thats all i was saying about that. You will alwys be able to use your logo debit credit card in Mexico nothing on that front has changed.

 

[Seadweller]

When I've bought at the Super Ley,I use dollars or my US atm card, and the exchange rate seemed to be just about what the banks have posted.....has that changed recently?

Joe, we always use our dbeit cards and we get the current rate of exchange when we do, it makes us money when we do so...

 

[VacationVanessa]

It really depends what you are buying. When I am buying locally I use pesos or my peso debit card, if I buy a beer at a tourist bar I use dollars . Rule of thumb, when its priced in dollars (IE Tourist places) use dollars, when it is priced in Pesos (Super Ley, Gas station, Tiendas) pay in pesos.

Learned this the hard way last year. Bank of America screwed me over and my paycheck STILL hadn't hit by noon on Friday when we hit the border so I had to pay for everything in pesos when I was finally able to access the funds. Went to JJ's and a beer is $3 yet they charged me 46 pesos. I was not too pleased. Tried to say something and the bartender just told me, "That's the price," shrugged and walked off.

 

[rockyptjoe]

The bank across the street from the Pemex on Fremont(the one on the street to Capones) gives US $$ from the ATM machine.....at least it was a couple of months ago.