Cancun Currency. Do I need Pesos in Cancun?

The official currency in Mexico (therefore in Cancun) is the Peso, being one of the many Spanish speaking countries that uses the denomination "peso" for its currency.

Also called "Mexican Peso", the code used to refer to the currency is MXN. Its symbol is "$", with "MX$".

Regarding the denominations of bills and coins, they are as follows:

• Bills: 20, 50, 100, 200, 500 y 1000 pesos.

• Coins: 5, 10, 20 y 50 centavos(cent) (¢), y 1, 2, 5, 10, 20, pesos ($).

What currency is best to use in Cancun?

US Dollars and Euros

Cancun is an international tourist destination, so you will have no problem if you bring US Dollars or Euros, as they are widely accepted in most stores and hotels.

Local Currency - Mexican Peso

It is important to get some bills and coins in Mexican pesos, as it will always be better to pay in local currency than dollars and euros.

Prices are expressed in Mexican pesos and if you pay with US Dollars or Euros, stores will apply lower exchange rates than the official one where you will be disadvantaged.

In addition, there are some stores that only accept local currency.

Mexican pesos can be obtained in Cancun's hotel zone, at the airport, exchange houses, hotels and ATMs that dispense local currency.

Credit Card

The best way to pay in Cancun is undoubtedly by Credit card. You pay in Mexican pesos and the exchange rate to your country's currency will always be official.

But beware that some stores may apply a surcharge for paying with a credit card, in which case, it will be better to pay in cash in Mexican pesos.

To know the exchange rate of the Mexican peso to US Dollars or Euros, nowadays it is very easy to know with Google, which gives you a wide list of sites specialized in currency exchange rates.