Why are many Americans reluctant to use Pesos?

[Canadian Dos Equis fan]

This is a question that always pops into my head when I see a post on using pesos or dollars in Cancun. From what I can tell a lot of Americans seem reluctant to use pesos and even those of us from Canada or the UK etc will sometimes get greenbacks instead of pesos before going down.

Obviously there is a perceived advantage or comfort level associated with using the dollar. To my knowledge over the last few years the peso has had a consistent trading level with the dollar and the likelihood of a significant change in valuation over the course of a trip one way or the other is minimal.

So in that case which currency do you prefer and why?

[Brewster]

Originally Posted by Canadian Dos Equis fan

This is a question that always pops into my head when I see a post on using pesos or dollars in Cancun. From what I can tell a lot of Americans seem reluctant to use pesos and even those of us from Canada or the UK etc will sometimes get greenbacks instead of pesos before going down.

Obviously there is a perceived advantage or comfort level associated with using the dollar. To my knowledge over the last few years the peso has had a consistent trading level with the dollar and the likelihood of a significant change in valuation over the course of a trip one way or the other is minimal.

So in that case which currency do you prefer and why?

Good point! I used US currency up until our last trip in September. I switched to Pesos.

The US dollar is accepted in most countries thoughout the world and seen as a "Universal Currency".

But, as a non-American, I lose on the exchange and the person I am tipping probably loses too, purchasing with US currency or exchanging it to Pesos.

American's loses more purchasing with US dollars than they would purchasing Pesos first.

And, I think too, many people don't like bothering with the math. It's easier to just say, "How much in dollars?"

[tere]

If I were travelling from the UK or Canada, I'd just get pesos not US $. Which is what I used to do when I lived in Canada. But since US $ are widely accepted in Cancun, I just bring them. It just makes it easy. Maybe it's that us south of the border like simplicity?

[Canadian Dos Equis fan]

Originally Posted by tere

If I were travelling from the UK or Canada, I'd just get pesos not US $. Which is what I used to do when I lived in Canada. But since US $ are widely accepted in Cancun, I just bring them. It just makes it easy. Maybe it's that us south of the border like simplicity?

I get that entirely, but I have met people who don't like getting pesos in change etc. and that part seems weird. I figure that I will just make sure to spend it before I go home lol

[Brewster]

The other part to this....

Does it annoy other Canadian's that Temptation shows such a crappy exchange rate on the front desk board, for Canadian dollars?

Our dollar is almost par with the US but Temptation seems to think it's worth about 80 cents....

[Canadian Dos Equis fan]

Originally Posted by Brewster

The other part to this....

Does it annoy other Canadian's that Temptation shows such a crappy exchange rate on the front desk board, for Canadian dollars?

Our dollar is almost par with the US but Temptation seems to think it's worth about 80 cents....

Yep they are living in 2002 that way for sure! Hence my love of ATM's (the bank machines not half the shows on channel 12 lol)

[tere]

Well, Dos, you can always keep those pesos for the next trip! I guess if you have to change a large bill to make some silly little purchase, it might be annoying to get all of those pesos back at the end of your trip. Like breaking a $100 to buy a coke at the airport. I have a bag full of different currencies from trips, probably some pesos in there. I always think I'm going to get them out to use on the next trip. Never happens!

[zurc]

Because we're American's and the rest of the world should bow down to our rightly deserved superiorty. (except for maybe, education, healthcare and free internet access) Honestly, I think as a whole we just don't travel that much out of the country. Here in San Antonio 80 percent of the population probably has never even left the state. So we're just comfortable with what we know if we're sure their going to take it. It really doesn't bother me either way since I really don't leave the resort and it's just for tip anyway.

[tere]

We have free internet access? Now that is news to me!

[zurc]

That's where we're lacking, I'm guessing by 2068 elections we'll have it.

[Canadian Dos Equis fan]

Originally Posted by zurc

Because we're American's and the rest of the world should bow down to our rightly deserved superiorty. (except for maybe, education, healthcare and free internet access) Honestly, I think as a whole we just don't travel that much out of the country. Here in San Antonio 80 percent of the population probably has never even left the state. So we're just comfortable with what we know if we're sure their going to take it. It really doesn't bother me either way since I really don't leave the resort and it's just for tip anyway.

Yes master I bow to you lol But I can relate, lots of Canadians haven't headed out of the great white north either!

[backs13]

I do the same thing Dos, I hate having to many Pesos to come home with, So I think for me, I keep that mindset throughout the trip... next thing ya know its time to come home and I avoided peso's all together...

[Canadian Dos Equis fan]

haha well I guess I know now then. I have always just wondered what the deal was.

[backs13]

LOL I dont think ive ever purposely said im not exchanging to peso's, cuz I personally think it would be easier to purchase things, though the first few trips to mexico , i was all screwed up with the coins that are worth dollars and so on... im so used to just throwing change in a jug or leaving it ... not realizing it has value down there.... but yeah ill to keep reminding myself not to make any big purchases the last few days there and get pesos back....Though I do love coming home from mexico and walking into a bar in New York and when the bartender comes over and says 5 bucks , I hand him 50 pesos and look at him , like ..is there a problem sir

[tere]

Originally Posted by zurc

That's where we're lacking, I'm guessing by 2068 elections we'll have it.

lol...I thought you meant the US had those things and I had somehow missed out on the free internet! You can count on me-I'd be the last to know.

[Steve]

I have to say I find it amazing that Cancun is so USD friendly. I can understand those from the US using them here because of familiarity (and dare I say laziness), but Brits, Canucks, Aussies etc I have to scratch my head as to why.

Originally Posted by Brewster

The US dollar is accepted in most countries thoughout the world and seen as a "Universal Currency".

I think that's a myth. I know for sure if you try to use Dollars in London you'll have problems most anywhere and if you were to try to use them in my home city they'd look at you like you were trying to pay with shiny buttons and probably be quite offended at the arrogance of even trying. I've visited much of Europe and never seen dollars used or accepted. Granted, the dollar may work in places like Zimbabwe or Iraq but I think it's "universal acceptability" is far from what many people think or like to believe.

By far the best way to manage your money in Mexico is to use the ATM and withdraw money in the local currency. Not only will you get the best rate you wont get ripped off as often.

[zurc]

Actually I'd be fine with the healthcare. Couple more years of these trips and I'm going to need a new liver!

[Brewster]

Originally Posted by Steve

I think that's a myth. I know for sure if you try to use Dollars in London you'll have problems most anywhere and if you were to try to use them in my home city they'd look at you like you were trying to pay with shiny buttons and probably be quite offended at the arrogance of even trying. I've visited much of Europe and never seen dollars used or accepted. Granted, the dollar may work in places like Zimbabwe or Iraq but I think it's "universal acceptability" is far from what many people think or like to believe.

Thanks for the correction. Maybe I was thinking black market purchases...lol

[zurc]

Which brings me back to the liver...

Zurc just start tucking away a few of your US dollars. I'm sure there will always be places like Zimbabwe that will take your US dollar and I'm thinking livers are probably pretty cheep there.

[Cokewithlime]

Originally Posted by Steve

I have to say I find it amazing that Cancun is so USD friendly. I can understand those from the US using them here because of familiarity (and dare I say laziness), but Brits, Canucks, Aussies etc I have to scratch my head as to why.

Steve - I think it has become a self fulfilling fact - most local(Cancun, Coz, RM) tour operators, resorts, clubs, transfer services that cater to tourists advertise their prices only in USD so therefore tourists think that the only way to pay is in USD, even if they are from Europe, Asia, Canada, etc and USD is not their home currency.

Obvious to anyone that has traveled, you can pay for any of this in the legal tender(Pesos) of the country and the business must accept that form of payment even if the prices advertised are in USD.

I can, from a business perspective, understand why the local(Cancun, Coz, RM) businesses do this - the majority of tourists are American - so make it easy for them, path of least resistance, to help get their business.

Having traveled most corners of the world, I can concur that USD are not universally accepted. No where else will you see pricing advertised in USD, it is always in the native currency of that particular country. - just try to pay for anything is USD in Japan, Australia, Hong Kong, Singapore, all of the EU, etc and you will just get a blank stare from the merchant as they wait for payment in their native currency.

At this point the use of USD and advertising to tourists the prices of goods and services only in USD within Cancun, Coz, RM has become so embedded within the local business culture I think it will be impossible to move back to the way the rest of the world does business.

I hate to say it Steve, but CancunCare is just as guilty as any other local business in promoting this problem http://www.cancuncare.com/Cancun_Air..._transfers.htm , etc

[Canadian Dos Equis fan]

Originally Posted by Cokewithlime

I hate to say it Steve, but CancunCare is just as guilty as any other local business in promoting this problem Cancun Airport Transfers | Unbeatable Rates For Cancun Private Transfer , etc

hehehe good catch!

[thekidd77]

The U.S. dollar is a universal currency. It is the main world reserve currency. That doesn't mean stores within all countries will accept them but when that same country buys wheat or oil on the world market it has to pay for it in US dollars.

In recent years the Euro has started to become another major player in world transactions and took over the position the german mark had and since just about doubled in popularity.

[thekidd77]

I think the US dollar took a huge hit in world reserve popularity when Iran and even OPEC switched to selling their oil in euro's instead of U.S. dollars.

[rdubnpk]

Originally Posted by zurc

Because we're American's and the rest of the world should bow down to our rightly deserved superiorty. (except for maybe, education, healthcare and free internet access) Honestly, I think as a whole we just don't travel that much out of the country. Here in San Antonio 80 percent of the population probably has never even left the state. So we're just comfortable with what we know if we're sure their going to take it. It really doesn't bother me either way since I really don't leave the resort and it's just for tip anyway.

rdubnpk
It's having to deal with those damn foreigners.....

[rdubnpk]

Originally Posted by Steve

I have to say I find it amazing that Cancun is so USD friendly. I can understand those from the US using them here because of familiarity (and dare I say laziness), but Brits, Canucks, Aussies etc I have to scratch my head as to why.



I think that's a myth. I know for sure if you try to use Dollars in London you'll have problems most anywhere and if you were to try to use them in my home city they'd look at you like you were trying to pay with shiny buttons and probably be quite offended at the arrogance of even trying. I've visited much of Europe and never seen dollars used or accepted. Granted, the dollar may work in places like Zimbabwe or Iraq but I think it's "universal acceptability" is far from what many people think or like to believe.

By far the best way to manage your money in Mexico is to use the ATM and withdraw money in the local currency. Not only will you get the best rate you wont get ripped off as often.

rdubnpk
Well, with the Republicans poised to take over Congress again, chances are good we may invade some other axis of evil country, or maybe some non-axis of evil country, or maybe some country that had nothing to do with nothing (see Iraq) and thus continue the expansion of our currencies acceptability. Get ready Halliburton!!!

[twinimini]

I think the acceptance of US currency in Mexico is no different than our acceptance of Canadian currency where I live. We are in the ski country which is about an hour and a half from Toronto and most places here will accept Canadian currency as readily as US. I think it is just a convenience thing to bring in more tourists.

[Cokewithlime]

Originally Posted by twinimini

I think the acceptance of US currency in Mexico is no different than our acceptance of Canadian currency where I live. We are in the ski country which is about an hour and a half from Toronto and most places here will accept Canadian currency as readily as US. I think it is just a convenience thing to bring in more tourists.

Granted - however just because those in the US ski country accept CAD, they still advertise their services/goods in USD - unlike what has been happening in Cancun, Coz and RM in general where they advertise these local Mexican services/goods only in USD

ie:
Airport Transfers
Tours
Car Rental
etc

Doesn't this send the message that they prefer USD ??? and now with the new restrictions all tourists are getting is a confused mixed message - not the best way to increase tourism to Mexico IMHO

[Steve]

Originally Posted by Cokewithlime

I hate to say it Steve, but CancunCare is just as guilty as any other local business in promoting this problem http://www.cancuncare.com/Cancun_Airport/cancun_airport_transfers.htm , etc

Well, in my 'defence' I'm not a local business I dont sell to people in Cancun I sell to people in other countries worldwide before they visit Cancun. When I lived in the UK I didn't post prices in £'s so cant see how posting prices in Pesos would benefit anyone now I happen to live in Mexico. You sure wont find American Airlines listing their flights to Rio de Janeiro in Reals, to Paris in Euros and to Phuket in Baht. I'd hope that Americans traveling to Brazil, France or Thailand dont presume they can use Dollars once they arrive there just because they used Dollars when they paid for their flights.

Like every website, the currency I use on the site is driven by it's audience demographic. 99.9% of my visitors are surfing prior to travel from their home countries of which the US comprises about 80% so it makes sense to use a currency that the most visitors understand. Canucks and Brits make up much of the remaining 20% and they generally have a better idea of the value of USD vs their own currency than the other way round. I do have a few pages on other sites in Spanish aimed at the Mexican market, and on those sites I obviously use Pesos for prices.

I do think once in Mexico though the game changes somewhat. Personally, I'd like to see all prices actually in Cancun listed in Pesos.

However, there really isnt that much priced in Dollars even now imho. I have yet to see a restaurant menu or drinks list priced in Dollars, nor posted taxi rates, labelled goods in supermarkets or shops (except for the 2 T shirts for 5 Dollars or one dollar beers kind of thing). Tours and nightclub entrance fees are the only ones I can think of and these will often have a Peso price listed alongside - and that's only in the Hotel Zone. Outside of the 20 km strip that is the Hotel Zone you wont find anything at all priced in Dollars.

[Canadian Dos Equis fan]

You know speaking of the clubs etc. I think I may conduct an experiment this time and try to take note of what the posted prices are in USD and Pesos at some of them. It would be interesting to show what those prices are and which one is actually less expensive (I'd bet on the peso...), then put those up on the site to illustrate which way makes your dinar go further!