![]() Simple calculations for costs have become more challenging. This may sound silly, but one of the biggest challenges for us gringos comes down to math. The declining value of the dollar does have a noticeable impact on my life. We’ve had it pretty good for a long time. Even though this puts us Americans at a disadvantage, I find it hard to get upset about it. (not taking into consideration inflation, of course). Conversely, those earning in pesos and spending in dollars now find things to be about 15 percent cheaper when traveling to the U.S. dollar’s strength has resulted in an about a 15 percent increase in the cost of everyday goods and services. For those of us who earn in dollars but spend in pesos, the decline in the U.S. Now I’m not an expert in global currency fluctuations, but I am aware of how significant changes in the exchange rate can impact the cost of goods and services, depending on whether you earn dollars or pesos. As of Friday evening, the exchange rate was around 17 pesos to one dollar, up from 16 earlier in the year. Starting in early 2023, those blinking neon signs started to signal a drastic shift in the exchange rate as the dollar lost nearly 20 percent of its value in just a few months. A 20 to 1 ratio stood stable until recently. By 2018, it had more than doubled, taking nearly 20 pesos to match a single dollar and getting up as high as about 24 pesos to the dollar. In the early to mid 2000s, approximately 10 pesos equaled one U.S. Over those 20 years, the exchange rate between the Mexican peso and the U.S. Having lived south of the U.S for 11 years and regularly crossed the border for over 20, it’s rare to find me without a wallet holding both dollars and pesos. Its colorful and imaginative designs are evocative of the vibrant culture and friendly people that make Mexico so unique. Personally, I have always been fascinated by Mexican money. It doesn’t work both ways, unfortunately, which is why I’m usually met with a hearty laugh when I make my favorite joke at U.S. However, it’s worth noting that when you pay in dollars in Mexico, your change is typically returned in pesos. I always thought that the money I might save wasn’t worth the mild inconvenience of an extra stop along the way to Mexico. I’ve never taken the time to calculate the savings afforded to someone who religiously exchanges their dollars to pesos. dollars and Mexican pesos, allowing the convenience of paying with either currency. I usually drive right past these places because most businesses in Baja California accept both U.S. She lives in Tijuana.ĭriving through Tijuana, the vibrant currency exchange houses adorned with blinking neon signs are hard to miss, each offering slightly better exchange rates than the last or boasting zero commission fees. ![]() Cilley is founder and president of Film Consortium San Diego and adjunct professor at San Diego City College.
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