Mexico
New Peso (MXN; symbol ME$) = 100 centavos. Notes are in denominations of ME$500, 200, 100, 50 and 20. Coins are in denominations of ME$20, 10, 5, 2 and 1, and 50, 20, 10 and 5 centavos.
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.
Mon-Fri 0900-1600; some banks are open longer hours and others are open on Saturday afternoon.
Currency may only be exchanged at authorized banks. The exchange rate of the Mexican peso against Sterling and other hard currencies has, in recent years, been subject to considerable fluctuation.
MasterCard and Visa are the two most widely accepted cards. American Express and Diners Club are accepted on a smaller scale. 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. There are ATMs nationwide.
Traveller's cheques or letters of credit in US Dollars issued by well-known banks or travel organizations are readily negotiable in banks and hotels. Sterling traveller's 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, travelers are advised to take traveller's cheques in US Dollars.
