Cancun Currency. Do I need Pesos in Cancun?

The official currency in Mexico (and therefore in Cancun) is the peso, making it one of the many Spanish-speaking countries that use the term “peso” for their currency.

Also known as the Mexican peso, its international currency code is MXN. Its symbol is “$”, sometimes written as “MX$” to distinguish it from other currencies.

The available bill and coin denominations are as follows:

• Bills: 20, 50, 100, 200, 500 and 1000 pesos.
• Coins: 5, 10, 20 y 50 centavos(cent) (¢), and 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 using U.S. dollars or Euros, as they are widely accepted in most stores and hotels.

Local Currency - Mexican Peso

It is important to carry some bills and coins in Mexican pesos, as it is always better to pay in the local currency than in U.S. dollars or euros.

Prices are listed in Mexican pesos, and if you pay with U.S. dollars or euros, stores will apply exchange rates that are lower than the official rate, which means you will receive less value for your money.

In addition, some shops only accept local currency.

Mexican pesos can be obtained in Cancun’s Hotel Zone, at the airport, at exchange offices, in hotels, and at 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 your bank will apply the official exchange rate to convert the amount into your home currency.

However, keep in mind that some stores may charge a surcharge for credit card payments. In that case, it is better to pay in cash using Mexican pesos.

To check the exchange rate between the Mexican peso and U.S. dollars or euros, you can easily use Google, which provides results from many specialized currency exchange websites.