Money in Mexico

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The currency in Mexico is New Mexican Pesos.  Unfortunately, the symbol used for pesos is $, or sometimes MN$.  This can sometimes cause confusion for visitors from other countries.

This is a small price to pay, however, for the value that foreign visitors find in Mexico.  The exchange rate changes daily, but one US dollar is usually worth approximately MN$9.5.  People from other countries such as Canada, Germany and the United Sates often find very inexpensive goods and services in Mexico.

It is not unusual to encounter minor inconveniences when conducting bank transactions in Mexico.  For example, recent Mexican banking laws prohibit banks to cash bank drafts or money orders drawn from foreign banks.  Bank accounts can only be opened by Mexican nationals or  foreign residents who have valid FM-3 visas.  It is also not possible to open a US dollar account for personal use.  US Dollar accounts are only available to businesses.  ATM and bank machines are common and most recognise international networks, such as Visa, Cirrus, Plus, and Red.  Occasionally it can be difficult to obtain a large amount of cash from a bank machine. 
 
The only currencies that can be easily used are Mexican pesos and US dollars.  Other currencies, including Canadian and German, can be almost impossible to use or exchange, even at a bank.

You can further avoid frustration by coming prepared with cash, widely recognised traveller's checks, and credit cards.