Jazmin Li
If you're planning a trip to Cabo, it's a good idea to familiarize yourself with the local currency. The official currency in Los Cabos is the Mexican Peso, but US Dollars are widely accepted in most locations. While it is possible to exchange money at currency exchange booths located in each terminal of the Los Cabos Airport, you may want to consider other options. Local banks typically offer more competitive exchange rates and lower fees compared to airport exchange services. Using ATMs to withdraw local currency or paying with credit cards that offer favourable exchange rates are also good alternatives.
| Characteristics | Values |
|---|---|
| Currency in Los Cabos | Mexican Peso |
| US Dollars in Los Cabos | Widely accepted but poor exchange rates |
| Best exchange rates | Credit cards and ATMs |
| Currency exchange booths at airport | Available at each terminal but may not have the best exchange rates |
| Local banks | Competitive exchange rates and lower fees |
| Online currency exchange services | Competitive exchange rates and convenient |
| Cash exchange houses | Convenient and competitive rates |
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What You'll Learn
Currency exchange booths at Cabo Airport
Currency exchange booths, also known as "Cambio", are available at each terminal of the Los Cabos Airport. While convenient, the exchange rates at airport booths may not be as favourable as those offered by banks. It is recommended that you only exchange enough money to cover immediate expenses, such as taxi fares or tips, and use other options for the rest of your trip.
US Dollars are widely accepted in Cabo, but the exchange rates for dollars tend to be poor. The peso is normally closer to 11 pesos to a dollar, but local merchants may charge you around 10 or 21 pesos to a dollar for their goods.
ATMs are a good option for getting Mexican Pesos and can be found at the airport and throughout Los Cabos. Credit cards are also widely accepted and can offer good exchange rates, but be mindful of foreign transaction fees charged by your card issuer.
If you plan ahead, you can exchange your currency for Mexican Pesos at your local bank before departing. Banks typically offer competitive exchange rates and lower fees compared to exchange services at airports or tourist areas. Some online currency exchange services can also deliver foreign currency directly to your home.
In both Cabo San Lucas and San Jose del Cabo, there are free-standing cash exchange houses that offer convenience and competitive rates. However, it is always a good idea to compare rates at multiple locations to ensure you are getting the best deal.
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Using credit cards in Cabo
Although the official currency of Mexico is the peso, US dollars are widely accepted in Cabo San Lucas, especially in the downtown area, where prices are often listed in US dollars. However, you may be short-changed if you pay in dollars and receive change in pesos.
Credit cards are widely accepted in Cabo, with Visa, Mastercard, and American Express being accepted at most locations, although some do not take American Express. It is always a good idea to inform your credit card company in advance that you will be travelling to Mexico. This will allow you to use your credit card in Cabo without any problems. Credit cards are accepted at most tourist businesses, such as hotels, restaurants, and tour companies, but some local stores and restaurants only accept cash. For this reason, it is always good to have some cash on you, especially for small purchases.
ATMs in Cabo dispense cash in pesos, and it is a good idea to withdraw cash from an ATM as soon as you arrive in Los Cabos. You can also exchange money at banks, which often offer good exchange rates. However, be aware that dollars are not accepted at toll roads in Cabo, and most gas stations do not accept credit cards.
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Exchanging money before arriving at Cabo Airport
The official currency in Los Cabos is the Mexican Peso (MXN). While U.S. Dollars are widely accepted in most locations, you will get a better exchange rate if you pay with pesos. Therefore, it is advisable to exchange some money before you arrive at Cabo Airport. Banks typically offer competitive exchange rates and lower fees compared to exchange services at airports or tourist areas. Check with your bank to see if they can provide Mexican Pesos and compare rates between a few banks for the best deal. Some online services also offer competitive exchange rates and can deliver foreign currency directly to your home. This option can be convenient and good value if you plan ahead.
If you are unable to exchange money before you arrive at Cabo Airport, there are currency exchange facilities at each terminal. While this is a convenient option, be aware that airport exchange rates may not be as favourable as those offered by banks. It is a good option for getting some initial currency for immediate expenses like taxi fares or tips.
To ensure you get the best value, it is advisable to use pesos when possible or opt for credit card payments, which offer favourable exchange rates. Most touristic businesses in Los Cabos accept credit cards, but it is always good to have some cash on you. If you decide to use an ATM, be mindful of foreign transaction fees charged by your card issuer.
In both Cabo San Lucas and San Jose del Cabo, there are free-standing cash exchange houses that can be convenient and often offer competitive rates. However, it is good to compare rates at a couple of different locations. Avoid exchanging too much money, only exchange what you think you will spend to avoid losing money when converting back to your home currency. Be wary of exchanging money with street vendors or unofficial sources due to the risks of fraud or poor exchange rates.
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Using cash in Cabo
The official currency in Los Cabos is the Mexican Peso (MXN). However, US dollars are widely accepted in most locations, making it easier for American tourists to navigate their expenses. Most touristic businesses such as hotels, restaurants, and tour companies in Los Cabos accept credit cards. However, it is always good to have some cash on hand, as some local stores and restaurants only accept cash.
If you are renting a car, you will be required to purchase Mexican Liability insurance. Check with your credit card company, as they often offer theft and collision insurance on the vehicle, saving you money.
Exchanging Money
It is recommended to exchange your currency for Mexican Pesos at your local bank before departing, as banks typically offer competitive exchange rates and lower fees compared to exchange services at airports or tourist areas. You can also use online currency exchange services, which can offer competitive exchange rates and deliver foreign currency directly to your home.
Upon arrival at Cabo Airport, you will find currency exchange facilities at each terminal, which is a good option for exchanging money to cover immediate expenses like taxi fares or tips. However, airport exchange rates may not be as favourable as those offered by banks.
In Cabo San Lucas and San Jose del Cabo, there are also free-standing cash exchange houses that offer convenient and competitive rates. It is always good to compare rates at multiple locations to get the best deal.
Using Cash
Using cash directly from ATMs and credit cards typically offer the best exchange rates. It is recommended to withdraw cash from an ATM upon arriving in Los Cabos, as exchange rates can vary widely from one place to another. Tourists are often short-changed when they pay in US dollars and receive Pesos for change. To avoid this, ask for dollars as change when paying for goods or services in dollars, and try to pay in Pesos when possible.
Credit cards are widely accepted and can offer good exchange rates, but be mindful of foreign transaction fees charged by your card issuer. It is also important to inform your credit card company about a week in advance to let them know that you will be in Mexico. Visa, Mastercard, and American Express are accepted at most locations, although some do not take American Express.
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The official currency in Cabo
Cabo San Lucas and San Jose del Cabo are two airports in Los Cabos, Mexico. The Mexican peso (MXN) is the official currency of Mexico. However, Cabo is a popular tourist area, and many businesses in the city accept US dollars (USD) and major credit cards for the convenience of American tourists.
While it is not necessary to pay with pesos, doing so will almost always get you a better exchange rate. It is recommended to withdraw pesos from a bank or ATM, as most ATMs only dispense pesos. Credit cards are widely accepted in Cabo, but it is important to inform your credit card company about a week in advance to let them know that you will be travelling. Visa, Mastercard, and American Express are accepted at most locations, although some do not take American Express.
If you wish to exchange currency, it is often wise to do so at your local bank before departing, as banks typically offer competitive exchange rates and lower fees compared to exchange services at airports or tourist areas. Online currency exchange services can also be convenient and offer good value, especially if planned ahead. Upon arrival at Cabo Airport, currency exchange facilities are available at each terminal, although the rates may not be as favourable as those offered by banks.
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Frequently asked questions
Yes, there are money exchange facilities at each terminal at Cabo Airport. However, airport exchange rates may not be as favourable as those offered by banks.
The official currency in Cabo is the Mexican Peso. However, U.S. Dollars are widely accepted in most locations.
The exchange rate at Cabo Airport will vary, but the Mexican Peso is normally closer to 11 pesos to a dollar.
The best rates are usually on ATM or credit card transactions. It is recommended to take cash out of the ATM when you arrive in Los Cabos.
