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Robt65's avatar
Robt65
Explorer
Jan 22, 2018

Changing American Currency in Mex No longer by MX Fed Gov't

Banks in Mexico including Azteca are no longer allowed by the Federal Bank of Mexico to accept ANY repeat ANY American denomination Bills for exchange to Mexican Pesos. Only the privately held "Casa d...
MEXICOWANDERER's avatar
MEXICOWANDERER
Explorer
Jan 25, 2018
  • SOME Mexican banks have US dollar accounts for Mexican business owners ONLY
  • Recently BanComer stopped the dollar accounts for Mexican businesses
  • Don't be surprised if businesses that used to take dollars no longer do so
  • Few if any businesses that accept dollars will accept US banknotes larger than a 20 dollar bill
  • The USA THIS WEEK stopped supporting the dollar
  • The currency has fallen against many other currencies
  • Mexico could similarly devalue the peso but don't bank in it
  • If I had to guess, Mexico will no allow the peso to gain a lot of value against the dollar -- too much of the economy depends on trade with the US
  • China and the Yuan Renminbi is another story
  • The price of goods can inflate in Mexico
  • Nothing to worry about just be aware of the possibility of volatile prices.

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