The Mexican Government recently passed a new law regarding the acceptance of US dollars which was enforced across the country on September 14, 2010.
The use of American cash dollars will not be as widely accepted as it has been in the past. The most significant changes are:
- Hotels and Money Exchange Booths can only change a maximum of $1,500 USD CASH per person per month into Mexican Pesos. Previously there was no limit.
- Businesses can only accept a maximum of $100 USD cash per transaction. However, the number of transactions per customer is not restricted.
- Certain businesses may decide to not accept American cash Dollars for any purchase at all (this can include souvenir shops, restaurants, etc)
As an example: If a customer wants to purchase a sightseeing tour worth $150 per person, they will only be able to pay $100 in cash and the remainder will need to be paid with either Mexican pesos, a credit card or travellers checks.
As a consequence it is suggested that all visitors traveling to Mexico exchange US dollars into Mexican pesos or withdraw them locally if they wish to pay cash, use a credit card, or travel with travellers checks.
An interesting twist to this law is that non-American foreign currencies such as Euros or Canadian Dollars are currently not affected.
In addition to not being able to use US dollars as easily, airline carriers do no longer accept USD cash at Mexican airports. This means that if your luggage is overweight and you have to pay an additional fee you will either need Mexican Pesos or a credit card to pay for it.
Posted by: Stefanie Pichonnat can be reached at 812-917-2149 or firstname.lastname@example.org