Here are the cash exchange rates for January 5, 2023 at CI Banco on the highway in Puerto Morelos.
I post these rates occasionally so you can compare them with what your local bank or the ATM here may offer. These rates available in town will differ from those you see if you just google exchange rates, as that is the bank-to-bank rate, not available to us as mere mortals exchanging small sums of cash. To see where the rates have been in the last couple of years, search “exchange rates” on our page at InPuertoMorelos.com
| Cash Exchange Rates | Buy | Sell |
| US Dollar $ | 18.80 | 19.60 |
| Canadian Dollar $ | 13.35 | 14.75 |
| Euro € | 19.70 | 21.00 |
| Pound Sterling £ | 22.20 | 23.60 |
As a comparison, I took some Canuck cash out of the Scotiabank ATM at Chedraui on January 4, 2023. The rate I received was 13.83. I paid no fees as I have a Scotiabank account in Canada. Normally, you will get charged fees at both ends of the transaction, from your bank and the Mexican bank, making your rate a little worse. The “bank to bank” Canadian/Mexico rate today is around 14.27.
Decline the ATM rate and Save Money! As a side note, we always advise folks who use the ATM here to get their pesos, to DECLINE the machine’s exchange rate. It is usually very much in the ATM’s favour. Here’s a recent example. We withdrew $7000 pesos from our Scotiabank account in Canada. (Scotiabank has no ATM fees for their Canadian customers, which is a great deal.)
If we had accepted the exchange rate the machine offered us, it would have cost us $526.64 CAD for our pesos, an exchange rate of 1 MXN = 0.07523 CAD. Instead, we let our bank in Canada work out the exchange rate and the cost to us was $498.63. That is a $28 CAD difference! Huge! That rate worked out to 1 MXN = 0.07123)
Always decline the machine’s rate!
Also see our recent article about getting cash at your home bank or in Mexico. What’s the best deal?
