The official currency of Mexico is the MEXICAN PESO which is also referred as "M.N." that stands for "Moneda Nacional" (National Currency).

Bills: $20, $50, $100, $200, $500 and $1000 $20 and $50 pesos bills are made of polymer (plasticized material). According to the Bank of Mexico bulletin, during 2008 and 2009 the rest of the denominations will gradually be replaced.
New $20 bill also made of polymer. A little different design and smaller than actual bill. In circulation since August 2007. Both bills are legal tender.
Old $10, $20 and $50 pesos bills made on paper are still legal tender and can be used. Prices in Mexican Pesos are posted with only the peso sign ($) in front, some businesses use MX$5.00, MN$5.00 or $5.00MN to make more clear for foreigners; for prices in U.S. Dollars usually as US$5.00, $5.00US or $5.00USD.
Coin values: 10¢, 20¢, 50¢, $1, $2, $5, $10 and $20
Approximate actual size

There are hardly any 10¢ and 20¢ coins in circulation in our destination. For payment purposes, if the amount is less than 25¢ the lowest unit will be charged; if it is between 25¢ and 75¢ the charge will be 50¢; if it is above 75¢ it will go to the next high unit (e.g.: $9.20 will be charged as $9.00; $9.35 as $9.50; $9.60 as $9.50; $9.80 as $10.00). A few businesses may not abide by this rule and they will charge you to the half unit or next high unit (e.g.: $9.20 will be charged as $9.50; $9.60 as $10.00)

The Peso floats freely so the offer and demand sets its equivalency with others currencies.

Exchange rate may differ slightly from bank to bank

For other currencies, we suggest a visit to

Click on logo. Courtesy www.oanda.com

U.S. Dollars are widely accepted by hotels, restaurants, shops, taxis, etc. Canadian Dollars are also accepted but in less places. For other currencies, please exchange them at banks or suggested places.

The vast majority of businesses and services that accept foreign currencies for payment, will honor bills but not coins. Same policy applies for Banks and Money Exchange Houses.

Most currencies can be exchanged at our local banks (if the currency is not very common in our destination, it may take a full day before the transaction can be completed because the bank needs to get the approval from the main office in Mexico City). Regular business hours: Mondays through Fridays, 9:00 a.m. until 5:00 p.m. and Saturdays until 2:00 p.m. For money exchange purposes, usually from 9:00 a.m. until 12:00 p.m. (Noon) only. Long lines can be expected in high season.

Many hotels (from three stars and up) in Ixtapa and in Zihuatanejo will exchange your USA and Canadian Dollars bills if you are their guest (check with the front desk).

Banks offer the best rates but the difference may just be a few cents on the dollar, so check around a little before changing your money; the time you may lose waiting in line might not be worthy.

Banks and Money Exchange Houses do not accept coins for exchange; bills only. 

Hotels, restaurants and shops usually post near the cashier their exchange rate for payment of services; if in doubt, ask the room clerk, waiter or salesperson.

Rates may change daily due to fluctuation; normally under ten cents (MXP), up or down.

Be sure to check for Credit Card acceptance before you buy or order a service; some places may have credit card ads posted in their windows but actually they do not longer honor them. It is wise to ask in advance.

If you're planning to use ATM's during high season, try to do it as early as possible, many times these machines run out of cash due to heavy demand, specially on weekends.

The voucher you will sign for the charge will have the due amount in PESOS (M.N.) because it is required by our laws; of course, you'll get your statement back home in your country's currency.

As a measure against possible frauds, when you pay with a Credit Card some businesses will ask to see an official I.D. with your photo so they can match the name, signature and look. Take one along to prevent inconveniences.

Many businesses in Ixtapa-Zihuatanejo accept Travelers Checks in U.S. Dollars as payment for purchases and services. Most hotels (from three stars and up) will exchange them if you are their guest. Rate may be lower that at banks.

You will be required to sign it in front of the clerk or salesperson and also you might be asked to show an I.D. with your picture for security purposes, so have one handy. Some banks may ask for your passport or they won't exchange it.

It is recommended that you previously ask in whose name it has to be drawn because many businesses are revenue registered under the owner's name and not the store's name, so the check has to have his name on it to be accepted.