New Laws Regulate Use of U.S. Dollars in Mexico

While American visitors have always appreciated the ease of using both American  dollars and pesos while vacationing in Los Cabos, new regulations will impact the use of U.S. cash currency while in Mexico.

Beginning in September 2010, Mexico has enforced a new law governing the use of American dollars (cash) to make purchases in the country. This law will result in a few noticeable differences while you’re traveling.

Facts:

• This new law does not affect credit card payments, traveler’s checks, the use of Mexican pesos or non-U.S. currencies
• Airlines may choose to only accept Mexican pesos and credit card payments for applicable fees
• Only $100 US dollars (cash) may be accepted per transaction by businesses in Mexico
• Certain businesses will not accept U.S. cash dollars for any transactions
• Exchange booths and hotels may only exchange a maximum of $1,500 per month per person into Mexican pesos

Your best bet? Consider using local ATMs to withdraw Mexican pesos or use a credit card. International conversion fees may apply.