All About Mexican Money

Money,money, money! Learn something, money! That's a cool song.

[sarcasm in Spanish] Hello, friends! Welcome to Spanish and Go, where we explorethe culture, traditions, and language ofSpanish speaking countries.

In this episode we're goingto be talking about something every traveler coming to Mexiconeeds to know about.

Mexican dinero.

Ready? Ready.

Let's get started.

Before you visit Mexico,it's helpful to familiarize yourself with the currencyyou're going to be using while on your trip.

In this episodewe're going to show you how to get and convert Mexican pesosfrom U.

S.

dollars as well as some interesting facts aboutthe almighty peso.

Okay, you have a few options toget your hands on some pesos.

The first one is bancos.

They usually have an exchange service, and you can use that priorto your trip you can just go to the bank get some pesos and you'll be readyto go to Mexico.

Right, banks like U.

S.

Bank, Wells Fargo.

Yeah.

Number two is the currencyexchange kiosks that you can find at most any airport, and also in most cities wherethere’s tourism.

So, that’s option number two.

And option number three,is ATMs.

That’s our preferred way of getting pesos when we arehere in Mexico.

We have learned that we getbetter rates when we use the ATM instead of going to the bank orexchanging money at the kiosks.

So, those are the three optionsyou have.

Once you have your hands on somepesos it's helpful to know how much you'll be spending withthis easy formula.

Right now in 2017 one U.

S.

Dollar equals about 20 pesos.

It kind of hovers belowand above, but about 20 pesos, which makes it really easyto convert.

If you're going to buy something that says it's500 pesos, all you need to do is move the decimal point overone and that will leave you with 50.

Cut that in halfand that's how much it is going to be in U.

S.

dollars.

So, half of fifty is twenty five dollars.

Or, if 50 U.

S.

dollars and you want to convert that pesos,all you need to do is move the decimal point over the otherway and double it.

So 50 hours adding a zero at the end you’vegot 500.

Double that.

You’re looking at about athousand pesos.

Or you can just use Siri.

That’ll work too.

Here we have all the differentdenominations of money in pesos except for one.

But we knowwhere to get it.

I’ll be right back.

We have it.

The 1000 pesos bill.

You probably won't get to seethis bill when you're here in Mexico because it's notvery common, but it is real.

It exists.

The Mexican peso is the eighthmost traded currency in the world, the third most tradedcurrency all over America, after the U.

S.

andthe Canadian dollar, and the most tradedin Latin America.

It was the first in the worldto use this sign even before the U.

S.

dollar.

Current Mexican coins inexistence are: 5, 10, 20, and 50 cents, 1, 2, 5, 10,and 20 pesos.

Current Mexican bills inexistence are: 20,50, 100,200, 500, and 1000 pesos.

As with U.

S.

Dollars, Mexican money portrays the image of important peoplefrom the country's history.

In the case of Mexican pesos,the people on the bills are famous luminarieswho lived before, during, and afterthe Spanish conquest.

For example, the 1000 pesos billpictures Miguel Hidalgo, Mexican national hero.

Leader of the Mexican War of Independence.

And the 500pesos bill shows Diego Rivera, Mexican muralist and his wifeFrida Kahlo a renowned Mexican artist.

All denominations of Mexicancurrency vary in color texture and size in an effort to detercounterfeiting and to assist the blind.

The four largestbills are not only the longest, but are also made outof a different material than the 50 and 20 pesos bills.

The larger bills are madefrom paper while the 50 and 20 are plastic.

Learning about the money you'reusing when you're visiting a new country is a great way to learnabout the history and culture of this place.

We hope this video helpedyou get acquainted with Mexican pesos.

Until later! Goodbye!.

Source: Youtube

All About Mexican Money

Learn all about Mexican money! Preparing for a trip to Mexico? Need to convert your US Dollars to pesos? Do you know the best way to get great exchange rate? Do you know who's on Mexico bills? We answer all that and more on this special feature all about Mexican money.

You'll learn how to count Mexican pesos, how to convert pesos to dollars, the historic figures on the bills, and more.