Where can you go to exchange new pesos for US dollars?

Answer 1

Assuming you have Mexican new pesos, it depends where you live. If you're relatively near the border you should be able to exchange them at many major banks; you'll have to call around to see if they have a foreign-currency department because not all will.

Services such as American Express and Deak should also be able to handle exchanges if you're farther away.

In either case there are a few caveats:

> Inquire about both the exchange rate and what kind of flat service fees are applied. In general you can count on losing about 8-10% versus the so-called "interbank" rate shown in newspapers and at sites such as www.xe.com or CNNMoney. The service fee could be hefty enough to make it cheaper overall to go with a provider that has a worse rate but a better fee - you'll have to do the arithmetic.

> If you have coins it's less likely that you'll be able to exchange them. My experiences with various conversion services and banks have been that they really prefer to deal with bills only.

Answer 2

You may not be able to exchange it at a local bank. I went to Russia and came back with Rubles and still have them. You need to find a tourist area or international airport with the money changers. I found a exchange at Pier 39 in San Francisco , but haven't gotten back there with my Rubles.