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Money
Currency: New Peso (peso) = 100 centavos. Notes are in denominations of peso500, 200, 100, 50 and 20. Coins are in denominations of peso20, 10, 5, 2 and 1, and 50, 20, 10 and 5 centavos.
Currency exchange: Currency may only be exchanged at authorised banks. The exchange rate of the Mexican peso against Sterling and other hard currencies has, in recent years, been subject to considerable fluctuation.
Credit & debit cards: American Express, Diners Club, Visa and MasterCard are widely accepted. Check with your credit or debit card company for details of merchant acceptability and other services which may be available. There is a government tax of six per cent on such transactions.
Travellers cheques: Travellers cheques or letters of credit in US Dollars issued by well-known banks or travel organisations are readily negotiable in banks and hotels. Sterling travellers cheques are not readily negotiable except at head offices of banks in the capital, and may be subject to a considerable discount. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars.
Currency restrictions: Local currency may be imported and exported up to the equivalent of US$10,000; larger amounts must be declared. The import of foreign currency is unlimited, provided declared. Foreign currency may be exported up to the amount imported and declared. The export of gold coins is prohibited.
Exchange rate indicators
The following figures are included as a guide to the movements of the New Peso against Sterling and the US Dollar (free-market rates).
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 13.92 | 14.99 | 16.03 | 17.49 | | $1.00= | 9.55 | 9.86 | 10.14 | 10.99 |
Banking hours: Mon-Fri 0900-1700; some banks are open Saturday afternoon.
Copyright © 2003 Columbus Publishing Ltd.
Terms and Conditions apply.
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