Canadian Rainbirds
Vancouver Island (Winter: Mainland Mexico)
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A good friend of ours closed out his US dollars account in Canada as the US dollar seems to be falling, and brought $5,000.00 US cash down to pay closing costs on his condo in Mazatlan. He went to his bank in Maz to deposit the cash---They wouldn't accept it! They now have a limit of 2500 PESOS equivalent of US Dollars. They also told him that Canadian dollars would have been acceptable! Maybe the drug dealers will have to start using Canadian Dollars, or Pounds, or Euros, or God Forbid, Pesos!
We also noted that many of the Casetas de Cobro had signs posted that dollars were not accepted.
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robatthelake
Vancouver Island
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That's telling ya something! I would imagine that Had He presented Canuck Bucks He would have been turned away as well!
When in Rome!!
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maggybeck
North in summer, south in winter
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When we crossed on Oct 11 the casetas were accepting dollors. Of course, we only went as far as Hermosillo.
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mexbungalows
las peñas, michoacan, mexico
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The US government itself, the US Treasury is playing games with the US Dollar. The objective is to shake loose the linkage between the dollar and the chinese yuan.
I wouldn't accept dollars either if I were a Mexican bank. Dollars need to be counted, dollars need to be escorted under heavy security and then recounted and ledgered. By the time all this happens the dollars may have lost 10% of their value. Refer to the exchange rate over the last several months.
ATM cards work fine. There may have been many alternatives to hauling cash. Las casetas de cobro on las autopistas starting in Sinaloa do not accept dollars.
The Mexican people are really taking this in the shorts. Too many items are imported. How would you like to pay a hundred and thirty three dollars for a BF Goodrich tire in Costco in Mexico that can be purchased for $79.00 in the Costco USA? Basic foodstuffs INCLUDING corn for tortillas rely on a too large a percentage of imports from the USA.
Let's see if the Canadian members on this board are going to like paying $2 cdn. for a litre of gasoline. The economic issues affecting the United States and China are only the tip of the mountain of problems facing the world.
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drtee
RGV, Texas
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I really don't understand the reasoning behind this policy, if it exists. The Dollar/Peso ratio has been quite stable over the past six months. The dollar has cropped to about $1.48/1 Euro, which is about the same as before the big drop in the US market last year this time.
Perhaps there is fear of counterfeit money as this is certainly an issue that someone in the cuota station would not be able to deal with. You might take your money to a casa de cambio as they usually give a premium for good US $100.00 notes. That's the currency of preference in the drug trade. The casetas de cobro on las autopistas in Sinaloa probably are worried about robbery as they are a long way from law and order, usually.
As for the $133.00 BF Goodrich tire in Costco, maybe the 15% VAT has a bit to do with that. In the US, we don't quote the sales tax in with the price. Here, in Texas, the total price of the $79.00 tire would be $85.76. I notice that the big box stores usually scan the price of an article at the net price and then add the VAT before the total is rung up on computerized cash registers.
I lived in Aguascalientes for four months last year and noticed the disparity between the price of most US-made goods in Mexico versus the US.
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bobofthenorth
Somewhere in North America
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Its about time. I've never understood why people think that US dollars should be accepted anywhere other than in the US. I pay Canuck bux in Canada, greenbacks in the US and pesos in Mexico - its not a difficult concept.
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tcman
Aldergrove, BC
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I have noticed the exchange rate between peso's & Canadian dollars stay more in line than Peso's & US dollars. maybe its because both currencies (Can & mex) are tied to the price of oil so much?
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tepetapan
catemaco,veracruz mexico
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It has everything to due with the drug money. My wife, who has lived here her whole life and personally knows people in all the area banks was also not allowed to deposit US dollars. Upon checking she was told to see the bank manager and have a form filled out detailing where the dollars are coming from. About a week later she was approved and allowed to deposit US dollars.
Bank to bank transfers, PalPal transfers go smooth but deposits of cash is a no no without approval. And how much luck would you have depositing 55,000 in Mexican pesos in a bank in say St. Louis or Omaha.
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Garry P
Canada
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And there is a 2% charges for cash deposits of 25,000MXN or more. It is all as a result of the cash generated by the drug cartels. The government hopes to make it more difficult for them to bank in Mexico.
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John & Angela
Full Timers in Canada, USA and Mexico
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mexbungalows wrote:
Let's see if the Canadian members on this board are going to like paying $2 cdn. for a litre of gasoline. The economic issues affecting the United States and China are only the tip of the mountain of problems facing the world.
So am I getting this right? Is gas like 20 pesos per litre in mexico right now?
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