Lake Chapala Ajijic Mexico Information

Exchanging Your Money

Banking hours are generally from 9-5. Banks are closed on all Mexican holidays and Saturdays. Do not be alarmed by men you may see with automatic weapons. There guns may have no bullets! They are guards hired by the bank and other businesses dealing with large amounts of cash. There are several Casa de Cambios (small currency exchanges) that give a fair rate of exchange, but probably not for traveller’s cheques. They may also ask for a copy of your passport. The exchange rate has remained fairly steady the past four or five years, usually ranging between 9.00 and 11.00 pesos to the US dollar.

The Mexican paper money is easily distinguished. The peso denominations are 20 (blue), 50, (plum) 100 (red) and 200 (green). The notes vary in size with increasing denominations. Large bills are available at banks. The smallest coins, 5 and 10 centavo coins, are of little value. Both are a nickel alloy. 20 and 50 centavo coins are brass. The 1, 2 5 peso coins are similar. They have a brass center with the denomination engraved on one side. The centr is encircled with nickle. 10 and 20 peso coins are the opposite; a nickel center with the denomination, encircled with brass. The 10 and 20 peso coins are easily mistaken for each other as they are very similar in color and size.