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Mexican Cash Flow Changes

From 13th September 2010, there will be restrictions on the cash flow of US Dollars in Mexico according to an announcement made by the Mexican government.

Passengers travelling to Mexico will be restricted to exchanging only $1500 (cash) per month into Mexican pesos at currency exchange bureaus and local banks.

Anyone wanting to exchange more than £500 in cash or travellers cheques will also be asked to provide a copy of their passport and any official immigration documents that prove their legal entry into the country.

The restrictions only apply to US dollars and not US dollar travellers’ cheques, English Pounds or the Euro.

Departure tax can no longer be paid in US dollars either, and must now be paid in Mexican Pesos or English Pounds.

Holidaymakers will also find that due to these restrictions on changing US dollars, bars, restaurants, shops and supermarkets may no longer accept the currency, so it is recommended that holidaymakers change their money into Mexican Pesos before travelling or change their US Dollars as soon as they arrive.

Holidays to Mexico are becoming increasingly popular as travellers get more and more adventurous with their destinations, and holidays here offer breaks on both the Pacific and Caribbean coasts. Families love the vibrant colourful life here whilst honeymooners are drawn to the vast, white sandy beaches and endless blue horizons.

The change in currency policy shouldn’t have a major affect on people taking holidays to Mexico; the major thing to remember is to ensure you have the departure tax ready in either Mexican Pesos or English Pounds.