Mexican Money, Pesos
Just a quick post about money in Mexico.
You need to realize that the average daily wage in Mexico is a bit under $5 and a few pesos for most tips brings a good smile to faces. The exception is in Americanized resorts and restaurants.
There are basically 6 commonly used coins in Mexico – relate them to our penny, nickel, dime, quarter, half dollar and dollar coins. Then, there are half cent, two cent, two dollar and five dollar coins. The coins are issued by Banco de Mexico.
There are two groups of coins, Type B, minted between 1992 and 1996, and the other, Type C, minted since 1996. They look very similar, with the exception that the newer coins, known as type “C”, do not have the adjective “nuevos” nor its abbreviation “N” imprinted on them.
Money minted before 1992, has been devalued. That said, basically, you can figure approximately that:
10 pesos are equal to one U.S. dollar
20 pesos equal $2.00 US
50 pesos equal approximately $5.00 US, etc.,
The small coins, 5,10, 20, 50, translate to half a cent, 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, and 50 cents. Divide everything by approximately 10 – depending on the exchange value, which changes daily so check the exchange rates online.