FAQ About Good Exchange Rates for Pesos

• What is the best time to exchange dollars to pesos?

  This depends on your time frame. Since 1 USD averaged around 20.90 MXN between March 2021 to March 2022, it would be relatively good to exchange dollars for pesos whenever 1 USD is equal to or stronger than this rate.

  However, let's say you have a two-year time frame. If you consider that 1 USD peaked at 25.34 MXN in March 2020, then rates in March 2022 may not seem relatively as good.

• Where can I get the best exchange rate for pesos?

  Between March 2021 to March 2022, Remitly was the best place to exchange US dollars for pesos. In this 12-month period, Global66 and Small World were the second and third cheapest money transfer services.

• Is it better to exchange pesos in US or Mexico?

  Regardless of your location in the US or Mexico, banks, credit unions, and airport kiosks will charge you very poor exchange rates and high commission fees. This is why Monito recommends international money transfer specialists instead, which our experts have researched and reviewed extensively.

• What is a good exchange rate in Mexico?

  To get a good exchange rate in Mexico, first, check the real mid-market exchange rate. This is the true rate you see on Monito, Google, or XE.com. Then, compare your provider's rate to this one. You can run a search on Monito's comparison engine to instantly find dozens of providers and compare their rates and fees.