money, money! Learn something, money! That’s a cool song… [sarcasm in Spanish] Hello, friends! Welcome to Spanish and Go, where we explore
the culture, traditions, and language of
Spanish speaking countries. In this episode we’re going
to be talking about something every traveler coming to Mexico
needs to know about. Mexican dinero. Ready? Ready. Let’s get started. Before you visit Mexico,
it’s helpful to familiarize yourself with the currency
you’re going to be using while on your trip. In this episode
we’re going to show you how to get and convert Mexican pesos
from U.S. dollars as well as some interesting facts about
the almighty peso. Okay, you have a few options to
get your hands on some pesos. The first one is bancos.
They usually have an exchange service, and you can use that prior
to your trip you can just go to the bank get some pesos and you’ll be ready
to go to Mexico. Right, banks like U.S.
bank, Wells Fargo. Yeah. Number two is the currency
exchange kiosks that you can find at most any airport, and also in most cities where
there’s tourism. So, that’s option number two. And option number three,
is ATMs. That’s our preferred way of getting pesos when we are
here in Mexico. We have learned that we get
better rates when we use the ATM instead of going to the bank or
exchanging money at the kiosks. So, those are the three options
you have. Once you have your hands on some
pesos it’s helpful to know how much you’ll be spending with
this easy formula. Right now in 2017 one U.S.
dollar equals about 20 pesos. It kind of hovers below
and above, but about 20 pesos, which makes it really easy
to convert. If you’re going to buy something that says it’s
500 pesos, all you need to do is move the decimal point over
one and that will leave you with 50. Cut that in half
and that’s how much it is going to be in U.S. dollars.
So, half of fifty is twenty five dollars.
Or, if 50 U.S. dollars and you want to convert that pesos,
all you need to do is move the decimal point over the other
way and double it. So 50 hours adding a zero at the end you’ve
got 500. Double that. You’re looking at about a
thousand pesos. Or you can just use Siri.
That’ll work too. Here we have all the different
denominations of money in pesos except for one. But we know
where to get it. I’ll be right back.
We have it. The 1000 pesos bill. You probably won’t get to see
this bill when you’re here in Mexico because it’s not
very common, but it is real. It exists. The Mexican peso is the eighth
most traded currency in the world, the third most traded
currency all over America, after the U.S. and
the Canadian dollar, and the most traded
in Latin America. It was the first in the world
to use this sign even before the U.S. dollar. Current Mexican coins in
existence are: 5, 10, 20, and 50 cents, 1, 2, 5, 10,
and 20 pesos. Current Mexican bills in
existence are: 20,
200, 500, and 1000 pesos. As with U.S.
dollars, Mexican money portrays the image of important people
from the country’s history. In the case of Mexican pesos,
the people on the bills are famous luminaries
who lived before, during, and after
the Spanish conquest. For example, the 1000 pesos bill
pictures Miguel Hidalgo, Mexican national hero.
Leader of the Mexican War of Independence. And the 500
pesos bill shows Diego Rivera, Mexican muralist and his wife
Frida Kahlo a renowned Mexican artist. All denominations of Mexican
currency vary in color texture and size in an effort to deter
counterfeiting and to assist the blind. The four largest
bills are not only the longest, but are also made out
of a different material than the 50 and 20 pesos bills. The larger bills are made
from paper while the 50 and 20 are plastic. Learning about the money you’re
using when you’re visiting a new country is a great way to learn
about the history and culture of this place. We hope this video helped
you get acquainted with Mexican pesos. Until later! Goodbye!