Cash Exchange Rates in Puerto Morelos for December 1, 2023

04. December 2023 · Comments Off on Cash Exchange Rates in Puerto Morelos for December 1, 2023 · Categories: Beach Reads The Blog, exchange rates · Tags: , ,

Here are the cash exchange rates for December 1, 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 Dec 1, 2023BuySell
US Dollar $16.6017.20
Canadian Dollar $12.0013.10
Euro €18.0019.20
Pound Sterling £21.0022.10

Notably, through CIBC Bank in Canada, I can order 10,000 pesos today for $834.80 CAD. I could get the same number of pesos here at CI Banco for $833 CAD in cash. Virtually the same cost, and as an added bonus, I know the bills you receive at the bank will be pristine and can be ordered in smaller denominations making them easier to use.
Bank of America would charge me $611.00 USD today for 10,000 pesos. Those same pesos would cost $602.41 in cash from CI Banco.

Decline the ATM rate and Save Money! Using the ATM is an easier option. You will likely get charged a fee by the Mexican bank as well as your home bank. We always advise folks who use the ATM here to get their pesos, to DECLINE the machine’s exchange rate. It is very much in the ATM’s favour, not yours.

Learn more about Puerto Morelos by exploring our page, www.InPuertoMorelos.com

Cash Exchange Rates in Puerto Morelos for December 15, 2022

15. December 2022 · Comments Off on Cash Exchange Rates in Puerto Morelos for December 15, 2022 · Categories: Beach Reads The Blog, exchange rates · Tags: , , ,

Here are the cash exchange rates for December 15, 2022 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. To see where the rates have been in the last couple of years, search “exchange rates” on our page at InPuertoMorelos.com
These rates are about the same as they were a month ago compared to the US and Canadian dollars. The Peso was showing some strength at the end of November but has since pulled back. The Euro and GBP have both climbed since their lows earlier this year.

Cash Exchange RatesBuySell
US Dollar $18.8019.90
Canadian Dollar $13.5015.00
Euro €20.0021.45
Pound Sterling £23.4024.75

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?

Give yourself a Spring Fling! We have one and two bedroom suites available with great dates in March and April. Check them all out at www.CasaDeLosViajeros.com

Money Matters: Ordering cash from your home bank

16. November 2022 · Comments Off on Money Matters: Ordering cash from your home bank · Categories: Beach Reads The Blog, exchange rates · Tags: , , , , , ,

Cards are being accepted more and more in Puerto Morelos, but cash is still king. Many small shops and restaurants only take cash, and chances are your card won’t get you anywhere at one of the weekend art markets. There may be an extra fee for using your credit card too.

You have many choices on how to get pesos in your pocket. For most people, we recommend using a bank-affiliated ATM here in town. You will likely pay a transaction fee at both ends, but you will get a very attractive exchange rate which should make up for it more or less. (Some banks or investment houses will refund ATM fees. Scotiabank in Canada charges no ATM fee if you use a Scotiabank machine here in Mexico.)

But, what about ordering cash from your home bank? Many banks offer this service. It is tempting. You get beautiful clean bills and can often order them in small denominations, which comes in very handy in Puerto Morelos. But, does it make sense economically? Or is it more sensible to bring currency to Mexico and convert it here?

We decided to test it out at our home banks in Canada and the United States. You may be surprised at the results. We were!

First, we’ll use our US funds account at Bank of America. We asked for 10,000 Mexican Pesos. Here is what we found:

Bank of America: 10,000 MXN would cost us $546.00 USD. That is a rate of 18.32

That doesn’t sound too bad, but check out CI Banco in Puerto Morelos

CI Banco: 10,000 MXN would cost us $537.63. That is at their rate today of 18.60

The difference is $8.37 (or about 156 pesos. That’s at least 3 cervesas)

Next, we’ll try our Canadian bank account at CIBC. Again, we want 10,000 Mexican Pesos.

CIBC: 10,000 MXN would cost us $743.20. That is a rate of 13.46

CI Banco: 10,000 MXN would cost us $729.93 at their rate today of 13.70

Once again, CI Banco wins, the difference is $13.27 CAD (or about 182 pesos. That’s up to 4 cervesas)

We did this research on November 16, 2022. Currency rates change daily, but I am betting that it will still hold true that you get more pesos for your buck (or loonie) here in Mexico. We’ll check it again in the next month or so.

For more information on where the ATMs are in town, CLICK HERE.

Remember, if you bring cash to exchange, it’s bills only. No coins. And you will need your passport to exchange US dollars. There is a limit of $1500 US per month, per person that you can exchange.

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Casa de los Viajeros is filling up fast for the upcoming season. We do have some high-season dates still available. 

Cash Exchange Rates in Puerto Morelos for September 15, 2020

15. September 2020 · Comments Off on Cash Exchange Rates in Puerto Morelos for September 15, 2020 · Categories: Beach Reads The Blog, exchange rates · Tags: ,


Here are the cash exchange rates for September 15, 2020 at CI Banco on the highway in Puerto Morelos.

I post these rates on occasion so that you can compare them with what your bank or the ATM may offer. To see where the rates have been in the last couple of years, search “exchange rates” on our page at InPuertoMorelos.com

Cash Exchange RatesBuySell
US Dollar $19.8521.25
Canadian Dollar $14.7016.30
Euro €23.8025.45
Pound Sterling £25.9027.65
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Cash Exchange Rates in Puerto Morelos for June 25, 2020

26. June 2020 · Comments Off on Cash Exchange Rates in Puerto Morelos for June 25, 2020 · Categories: Beach Reads The Blog · Tags: , , , ,

Here are the cash exchange rates for June 25, 2020, at G Capital on the highway in Puerto Morelos.

I post these rates on occasion so that you can compare them with what your bank or the ATM may offer. To see where the rates have been in the last couple of years, search “exchange rates” on our page at InPuertoMorelos.com

Cash Exchange RatesBuy
US Dollar $21.35
Canadian Dollar $14.00
Euro €22.00
Pound Sterling £23.80
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