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Mexico City – Currency & Banking

The currency of Mexico is the peso (MXN). The symbol for pesos is the same as for US dollars, which can be slightly confusing. Prices in dollars (in tourist areas) are labeled “US$”.

Exchange rate Pesos per US dollar
13.1340 (2008)
10.7995 (2007)
10.7995 (2006)

The currency is composed of several denominations in metal and paper: there are 5, 10, 20 and 50 cent coins, including 1, 2, 5, 10 and 20 pesos; there are 20, 50, 100, 200 and 500 peso bills in circulation.

ATMs are easy to come by. Bank of America customers can avoid ATM fees by using Santander Serfin ATMs. Other banks may have similar policies, check with your respective institution. Otherwise, do not be surprised to find yourself with a $5 fee for each withdrawal.

You can change foreign currency to pesos at Money Exchange Offices, the majority of which are open during the week from 09:00 a.m. to 5:00 p.m. and Saturdays from 10:00 a.m. to 2:00 p.m. You will get the best exchange rates in banks which are open to exchange from 09:00 a.m. to 1:00 p.m.

Banks
Banamex/Citibank
1226-2626
www.banamex.com

The largest bank in Mexico.  The Banamex Financial Group was purchased by Citigroup in 2001 for $12.5 billion USD. and operates as a Citigroup subsidiary.

Banco de México
Avenue 5 of May 2,
Colony Center,
Postal code 06059,
Cuauhtémoc Delegation,
Federal District,

Banco de México is Mexico’s central bank and lender of last resort. Banco de México is autonomous in exercising its functions.  The Bank of Mexico is the central bank of the Mexican State, constitutionally independent in its functions and administration, whose purpose is to provide to the economy of the country of national currency.

HSBC México, S.A.
Main Office
Paseo de la Reforma 156
Col Juarez
06600 Mexico DF
(52 55) 5721-2222
www.hsbc.com

The HSBC Group has been operating in Mexico since opening a representative office in the 1970s. In 2000, with the acquisition of Republic National Bank, Republic’s banking subsidiary in Mexico was integrated with the Group, and was renamed HSBC Bank Mexico, S.A.

Scotiabank Inverlat
Blvd. M.A. Camacho 1 Piso 19
Col. Lomas de Chapultepec
C.P. 11009 Mexico City
www.scotiabankinverlat.com

(52 55) 5229-2666
Fax: (52 55) 5229-2393

Mexico’s 7th largest commercial bank, offering a full range of corporate, commercial and retail services through a nationwide network of 370 branches and 975 ATMs.