Currency Exchange at SJD

Mexican Peso Exchange Rate

While it’s advantageous to have Mexican Pesos when traveling to Los Cabos, it’s not essential as many local hotels and businesses accept U.S. Dollars. At Los Cabos Airport, you’ll find currency exchange facilities in each terminal, allowing you to exchange money upon your arrival.

However, for the best exchange rates, using ATMs or a credit card is generally recommended. Withdrawing cash from an ATM in Los Cabos often yields a more favorable rate compared to other exchange methods. Additionally, national banks throughout Los Cabos provide currency exchange services for U.S. Dollars and other foreign currencies, typically offering better rates than other options.

Currency exchange houses in the area are also known for their competitive exchange rates. On the other hand, hotels are not the best option for currency exchange as they tend to offer less favorable rates. It’s advisable to use hotel exchange services only as a last resort when no other options are available.

Dollar to Peso Forecast

Exchanging Money at Los Cabos Airport

The Mexican Peso is the official currency of Mexico, and while it’s not mandatory to have Pesos when visiting, it’s certainly recommended for ease of transactions and potentially better rates. Many establishments in Mexico, including hotels, car rental agencies, merchants, and restaurants, accept major foreign currencies like the US Dollar and Canadian Dollar. However, using the local currency can often be more cost-effective.

Exchanging Currency Before Your Trip:

• Local Banks: It’s often wise to exchange your currency for Mexican Pesos at your local bank before departing. Banks typically offer competitive exchange rates and lower fees compared to exchange services at airports or tourist areas. Check with your bank to see if they can provide Mexican Pesos and compare rates between a few banks for the best deal.
• Online Currency Exchange Services: Some online services offer competitive exchange rates and can deliver foreign currency directly to your home. This option can be convenient and offer good value, especially if you plan ahead.

Exchanging Currency at Cabo Airport:

• Currency Exchange Booths (Cambio): Upon arrival at Cabo Airport, you’ll find currency exchange facilities at each terminal. While convenient, be aware that airport exchange rates may not be as favorable as those offered by banks. It’s a good option for getting some initial currency for immediate expenses like taxi fares or tips.

Currency Exchange in Cabo San Lucas

• National Banks: Once in Cabo, national banks are a reliable place to exchange currency. They usually provide better rates than tourist-oriented exchange booths. Be sure to check their business hours and any fees associated with currency exchange. It’s advisable to carry your passport for identification.
• Cash Exchange Houses: In both Cabo San Lucas and San Jose del Cabo, there are free-standing cash exchange houses. These can be convenient and often offer competitive rates. However, it’s good to compare rates at a couple of different locations.

Tips for the Best Currency Exchange Rates

1. Compare Rates: Always compare exchange rates and fees from multiple sources to ensure you’re getting the best deal.
2. Avoid Exchanging Too Much: Only exchange what you think you’ll spend to avoid losing money when converting back to your home currency.
3. Be Wary of Street Vendors: Avoid exchanging money from street vendors or unofficial sources due to the risks of fraud or poor exchange rates.
4. Use Credit Cards Wisely: Credit cards are widely accepted and can offer good exchange rates. However, be mindful of foreign transaction fees charged by your card issuer.
5. ATMs: Using ATMs to withdraw local currency can also be a good option. They usually offer competitive rates however, check if there are additional fees (exchange and international fees) from your bank and the Mexican bank.

By planning ahead and considering these options, you can ensure that you get the best possible deal when exchanging your US or Canadian Dollars into Mexican Pesos. This preparation will allow you to enjoy your trip to Mexico with one less thing to worry about.

Cash Exchange facility at SJD Airport is Cambio.

Cabo San Lucas Currency Exchange 2024

In any situation please be aware of your surroundings when handling large amounts of cash. Only use well-lit places or public facilities with many people for your personal safety.

Click here to learn more about Cabo Airport.