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New rule for the exchange of U.S. currency in Mexico

Nolitours wish to inform its clients that the Mexican government has put in place a new rule that applies to the exchange of U.S. dollars to Mexican pesos. Indeed, foreigners travelling to Mexico can exchange a maximum of US $1,500 for Mexican pesos per month.

This new measure applies to money exchanged in banks and in currency exchange offices only and does not apply to withdrawals made from automated tellers (ATMs), or to purchases and transactions made with credit cards or debit cards.

It is possible that certain hotels and/or businesses may refuse the payments made with U.S. dollars in cash.  Therefore, we recommend that our clients carry a credit card, a debit card, Mexican pesos and/or Canadian dollars.

While the new rule does not apply to Canadian currency, certain financial institutions, hotels and currency exchange offices do not make that distinction.

For more information, please consult the notice issued by Foreign Affairs and International Trade of Canada at http://www.voyage.gc.ca/countries_pays/report_rapport-eng.asp?id=184000.