Mexican Peso (MXN; symbol M$) = 100 centavos. Notes are in denominations of M$1,000, 500, 200, 100, 50 and 20. Coins are in denominations of M$100, 50, 20, 10, 5, 2 and 1, and 50, 20, 10 and 5 centavos. 

Note: The M$1,000 note is difficult to change and often not accepted. The M$100 and M$50 coins are rarely seen.

The US dollar is widely accepted; indeed in some instances it can be difficult to pay in pesos. Currency exchange houses give a preferable rate of exchange to hotels and a much quicker service than banks. Although, in theory, you can get a much better deal on the black market, this is a risky business, and tales of rip offs are common. The exchange rate of the Mexican peso had been relatively stable until 2008, when it took a huge tumble, reaching a record low against the US dollar in 2009.

Cash is always the preferred method of payment. Credit cards are not as widely accepted as in Europe or the USA. MasterCard and Visa are the two most widely accepted cards. American Express and Diners Club can sometimes be used, but on a smaller scale. Some companies make an extra charge of around 5% on such transactions. There are ATMs in cities and most major tourist destinations nationwide, although not all debit cards are accepted, so check before leaving, particularly if travelling outside major resorts.

ATMs and credit cards mean traveller's cheques are less necessary as a means of carrying money and not necessarily recommended. However, traveller's cheques issued by well-known brands can be cashed in exchange houses, which again give a better rate than hotels and a quicker service than banks. Traveller's cheques in Pounds Sterling and Euros are now as readily accepted as those in US Dollars.

Restrictions apply.

Mon-Fri 0900-1600; some banks are open longer hours and others are open on Saturday afternoon.