BajaNomad

Peso Exchange question

John M - 3-7-2023 at 05:55 AM

I got a question from some folks going to Baja with us next week - do the peso exchange places readily accept 50s and 100 dollar bills?

We've always used 20s, so I have no experience with the larger denominations.

Thanks

John M

[Edited on 3-7-2023 by John M]

KaceyJ - 3-7-2023 at 07:28 AM

No problem , and
last time I xchanged , there was no Id required for a large transaction.
This was San Ysidro

RFClark - 3-7-2023 at 09:15 AM

Your friends can get a better exchange rate if they order pesos from their US bank before they go to Mexico.

We use BofA in the states.

AKgringo - 3-7-2023 at 09:39 AM

There are two Wells Fargo banks in my area, (Nevada County) and one of them keeps enough pesos on hand to get five or six hundred dollars converted. If you need more, give them a few days' notice.

I don't remember what the exchange rate was, but the convenience was worth whatever they charged. Call around to see if a bank near you is able to make the exchange.

StuckSucks - 3-7-2023 at 09:42 AM

I got pesos from our BofA once, which taught me that was the wrong way to go. We are platinum or premium members (whatever it's called), so I expected to get a fair exchange rate. Turns out the rate was a couple of points lower than what I could get at the border, PLUS BofA charged me an additional fee. Never again.

Do your homework first to see if it really is a good deal.

TMW - 3-7-2023 at 09:57 AM

I have often purchased pasos using 50 and 100 dollar bills.

surfhat - 3-7-2023 at 10:06 AM

There is an outfit called TravelX that sets up in some banks that is for money exchanges. The last time I used them was in a bank in Carlsbad, Ca. Their rates were comparable to other sources. The convenience was a plus.

Usually I just go the exchangers off the 5 in San Isidro just north of the border. There is a lot of competition there for our dollars and if one is willing to shop round, you might save a few pesos here and there. I hardly bother these days for the small difference it might make.

My time is worth more than driving around hunting for the best exchange rate. Getting $1500 worth of pesos in the morning has never been a problem and lasts me long enough to make it home with a few leftover pesos for next time.

I do try to avoid driving into San Isidro proper because you never know who is looking around for travelers crossing the border with fresh cash. Maybe I am being paranoid just a bit.

The exchangers off the 5 are easy and convenient enough for a quick stop before the border.

AKgringo - 3-7-2023 at 10:18 AM

Finding the right gas stations makes a much larger difference in my travel budget than finding the right Cambio!

surfhat - 3-7-2023 at 10:31 AM

Antonios in El Rosario is never missed, as much for their dependable, never scammed pumps as for supporting one who has given back so much for all of our road safety's benefit with his ambulances parked out front.

His pump girls are deserving of a little compensation and always appreciate such consideration that means so little to us and more to them. Tip those girls!

AKgringo - 3-7-2023 at 10:42 AM

If I ever drive through Antonio's town again, I will certainly stop (and tip) there!

I was referring to the prices charged along the six hundred miles or so that I have to drive to get to the border. There are a lot of rip-off stations along the interstate highways or remote locations.

David K - 3-7-2023 at 10:49 AM

Quote: Originally posted by AKgringo  
If I ever drive through Antonio's town again, I will certainly stop (and tip) there!

I was referring to the prices charged along the six hundred miles or so that I have to drive to get to the border. There are a lot of rip-off stations along the interstate highways or remote locations.


In the United States, with such a big government weights and measures department, or Canada, home of such nice people? :wow:

dusty.rambler - 3-9-2023 at 09:44 AM

I usually use ATMs to get pesos. Even with the fees from my bank and the Mexican bank, the exchange rate is the best and usually worth it.

Sometimes the ATMs won't work

AKgringo - 3-9-2023 at 10:12 AM

On two separate trips to the Mulege/Loreto area I have been unable to withdraw pesos from any ATM. It was probably due to a fluctuation in the international exchange rates, because the banks would not exchange greenbacks for pesos either!

I was able to find places that would take plastic for payment, but not for cash back transactions.

AKgringo - 3-9-2023 at 10:20 AM

Quote: Originally posted by lencho  

What sort of ripoffs are you talking about?
/rquote]

I was referring to a price per gallon rip-off. When a gas station connected to a refinery by a short drive on an interstate highway charges twenty cents a gallon more than my small, fairly remote mountain community over 500 miles away, that is a rip-off!

[Edited on 3-9-2023 by AKgringo]

surabi - 3-9-2023 at 10:24 AM

"It was probably due to a fluctuation in the international exchange rates, because the banks would not exchange greenbacks for pesos either!"

There are many Mexican banks who won't exchange currency unless you have an account with them, having nothing to do with the exchange rates.

[Edited on 3-9-2023 by surabi]

mtgoat666 - 3-9-2023 at 10:51 AM

Quote: Originally posted by AKgringo  
Quote: Originally posted by lencho  

What sort of ripoffs are you talking about?
/rquote]
I was referring to a price per gallon rip-off. When a gas station connected to a refinery by a short drive on an interstate highway charges twenty cents a gallon more than my small, fairly remote mountain community over 500 miles away, that is a rip-off!


that is a bit harsh to call it a "rip off." market economy, supply and demand, etc. If you want to find cheapest gas when traveling in conus, use gasbuddy.

Lee - 3-9-2023 at 01:47 PM

Quote: Originally posted by StuckSucks  
I got pesos from our BofA once, which taught me that was the wrong way to go. We are platinum or premium members (whatever it's called), so I expected to get a fair exchange rate. Turns out the rate was a couple of points lower than what I could get at the border, PLUS BofA charged me an additional fee. Never again.

Do your homework first to see if it really is a good deal.


Same with WF. Never again.

David K - 3-9-2023 at 02:20 PM

The Casas de Cambio on the U.S. side of the border are super easy to use (and advetise if they are 'no commission' with a buy & sell exchange rate posted).

Also, the Costco in Chula Vista (I-5, Palomar exit) has a money exchange inside, on the left/ opposite the cash registers. They have good rates, but are open limited hours and close for lunch, so call ahead. I used it a couple times, but that was over a dozen years ago.

AKgringo - 3-9-2023 at 02:29 PM

I did not need to use it, but I noticed that the Walmart in Calexico is set up to exchange pesos/dollars. I bought a car battery there in October, and had the option of paying with either currency.

The Dollar is down against the Peso

AKgringo - 3-9-2023 at 03:06 PM

The last exchange I did was in October, and it was slightly over 20 pesos to the dollar. Today it is slightly under 18 to the dollar!

StuckSucks - 3-9-2023 at 04:21 PM



Screen Shot 2023-03-09 at 3.20.08 PM.png - 22kB

AKgringo - 3-9-2023 at 04:38 PM

exchangerate.com is showing 17.94 right now.

David K - 3-9-2023 at 04:48 PM

Quote: Originally posted by AKgringo  
exchangerate.com is showing 17.94 right now.


Our economy is going down the toilet... so the dollar buys fewer pesos than before.

Cancamo - 3-9-2023 at 07:10 PM

Quote: Originally posted by David K  
Quote: Originally posted by AKgringo  
exchangerate.com is showing 17.94 right now.


Our economy is going down the toilet... so the dollar buys fewer pesos than before.



Not even close. The dollar buys .94 of a euro, as opposed to 1.39 ten years ago and much more before. The US economy remains strong even through the Feds continued efforts to slow it down through raising interest rates in an effort to curb inflation, which is a worldwide problem. The US is also experiencing a 50 year low in the unemployment rate, with almost two jobs for every one person looking for one. Wages continue to climb as well for the above reasons.

According to "El Universal", the reputable source of Mexican news, the peso is strong against ALL currencies due to inflows of money due to export, remittances, and foreign investment.





It is now crystal clear if one sources their "news" at one source, they would not know these facts, therefore repeat, as told by these now proven lying opinionators that the economy is in the dump.

mtgoat666 - 3-9-2023 at 08:21 PM

Quote: Originally posted by David K  
Quote: Originally posted by AKgringo  
exchangerate.com is showing 17.94 right now.


Our economy is going down the toilet... so the dollar buys fewer pesos than before.


Economy doing well. Inflation falling. Unemployment is low. Dollar (and peso) are strong :thumbup:

Only thing uncertain is GOP talking about gutting SS and medicare :o

David K - 3-9-2023 at 09:11 PM

You really are in Fantasyland! Dow is crashing, and Joe wants to increase taxes on business, which raises prices even more than his inflation, hurting American families and us senior citizens on fixed incomes. No Republican will touch social security. It was Biden who began taxing social security. What a guy.

surabi - 3-9-2023 at 10:13 PM

Atta boy, David, keep getting your "news" from people who are lying to you.

mtgoat666 - 3-9-2023 at 10:37 PM

Quote: Originally posted by David K  
It was Biden who began taxing social security. What a guy.


Dk,
You really need to get treatment for your brainwashing! It was Reagan who signed the bill in 1983 that began taxing SS. That bill came out of a Republican-controlled senate and democrat-controlled house.
GOP controlled senate and executive branch, and are the party that started taxing SS, after many decades of not taxing SS.
True that!

mtgoat666 - 3-9-2023 at 10:42 PM

Quote: Originally posted by David K  
You really are in Fantasyland! Dow is crashing,…


Markets have been flat since trump ran the economy off the rails during covid times. No big deal for most people. Most of us invest in the market for the long term. The market goes up and down, but history shows the trend is up over time. I have no concerns about the stock market — if anything, now is a great time to buy. In a few years the market will be back to new heights!

Cancamo - 3-10-2023 at 08:17 AM

The market is also down because you can get 5% on a CD.

The market goes down when interest rates rise. Economics 101

Where you been getting your "news"?

David K - 3-10-2023 at 08:43 AM

Quote: Originally posted by mtgoat666  
Quote: Originally posted by David K  
It was Biden who began taxing social security. What a guy.


Dk,
You really need to get treatment for your brainwashing! It was Reagan who signed the bill in 1983 that began taxing SS. That bill came out of a Republican-controlled senate and democrat-controlled house.
GOP controlled senate and executive branch, and are the party that started taxing SS, after many decades of not taxing SS.
True that!


Because facts matter in a free society that your people want to destroy...

"Prior to 1983, social security was not taxable. In 1983, Joe Biden voted in favor of taxing 50% of social security - and it passed. In 1993, Joe Biden doubled down and was the deciding vote in raising the percentage taxed on social security from 50% to 85%."

"Biden voted for this bill as well, along with 49 other senators, all of whom were Democrats. The legislation, which was not supported by a single Republican in the Senate, was deadlocked with a 50-50 tie. In the end, then-Vice President Al Gore had to break the tie."

Cancamo - 3-10-2023 at 08:57 AM

Quote: Originally posted by lencho  
Quote: Originally posted by Cancamo  

Not even close. The dollar buys .94 of a euro, as opposed to 1.39 ten years ago and much more before.

I'm confused: doesn't that mean that the Dollar is currently weaker than it was? :?:


In other words; not long ago it took $1.39 to buy one Euro, now it takes 94 cents, hence the dollar is almost 50% stronger than the Euro.

Cancamo - 3-10-2023 at 09:04 AM

Bottom line is the current strength of the peso has nothing to do with the US economy, (see above), which just reported another weekly increase in jobs. The US economy is fine, it's worldwide inflation that's the issue.

David K - 3-10-2023 at 09:22 AM

It's like listening to Lori Lightfoot saying everything's fine in Chicago, nothing to see here, move along... LOL

Cancamo - 3-10-2023 at 10:35 AM

Quote: Originally posted by David K  
It's like listening to Lori Lightfoot saying everything's fine in Chicago, nothing to see here, move along... LOL


Not sure what Lori Lightfoot and Chicago have to do with the strength of the Mexican peso. Deflection?

boatworksjon - 3-10-2023 at 11:31 AM

It's a shame that you guys can turn a simple conversation into some red and blue yelling match.

Just another old time forum going down the tube if not already there.

It's pretty clear that a lot of you spend too much time behind the screen drinking the Kool-Aid.

This is why a lot of people just stay in the shadows.

I post on other watersports forms and people have even PM me to criticize me so I just stopped posting.

This is why people don't post things

Disappointed to see so many people act so petty

Sad

Lee - 3-10-2023 at 11:59 AM

Quote: Originally posted by boatworksjon  
It's a shame that you guys can turn a simple conversation into some red and blue yelling match.

Just another old time forum going down the tube if not already there.

It's pretty clear that a lot of you spend too much time behind the screen drinking the Kool-Aid.

This is why a lot of people just stay in the shadows.

I post on other watersports forms and people have even PM me to criticize me so I just stopped posting.

This is why people don't post things

Disappointed to see so many people act so petty

Sad


Here’s the problem. Mr.Goat argues strong economy, DK contradicts him and blames “Joe” for a weak Econ. DK has taken the bait. Any and all reasons to turn a thread into a political argument, David will jump in. Mr.Goat counters and it’s off to the races. Us vs. Them.

The no nothing newbie needs to make moral judgment seeing shame as the end point. F’ morality.

Before you start dumping on this thread and forum, lurk more. Heat too hot in the kitchen, stay the F’ out.



boatworksjon - 3-10-2023 at 05:12 PM

Been lurking a long time

I figured a bunch of wrinkled up old men wouldn't get their panties and such a big bunch over some newbies speaking up.

It just does get old doesn't matter which thread it's always the same thing over and over.

Then I won't speak up there's only a couple people here who actually contribute and I've noticed that you guys s*** on them the most.

Like I said I only stopped by occasionally it always seems to be the same thing so I'll just keep doing the same thing I'll invest five minutes every month to come through basically useless posts.......

All you Baja experts

Lee - 3-10-2023 at 07:36 PM

Quote: Originally posted by boatworksjon  
Been lurking a long time

I figured a bunch of wrinkled up old men wouldn't get their panties and such a big bunch over some newbies speaking up.

It just does get old doesn't matter which thread it's always the same thing over and over.

Then I won't speak up there's only a couple people here who actually contribute and I've noticed that you guys s*** on them the most.

Like I said I only stopped by occasionally it always seems to be the same thing so I'll just keep doing the same thing I'll invest five minutes every month to come through basically useless posts.......

All you Baja experts


Don’t know how long you been lurking and doesn’t really matter. Post whatever you want and if you dump on some nomads here, you’ll be dumped on in return.

It’s obvious you do not know the people here or this forum.

Trolls come by all the time. See you next month. Try to contribute something of value.