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Introduction
Are you planning to travel to Mexico or just curious about the exchange rate? In this article, we will discuss how much 1200 dollars is in pesos and provide you with some tips on how to get the best exchange rate.
The Current Exchange Rate
As of 2023, the exchange rate for 1 US dollar to Mexican peso is around 19.50 pesos. This means that 1200 dollars is equivalent to approximately 23,400 pesos.
Where to Exchange Your Money
There are several places where you can exchange your dollars for pesos. The most common places are banks, exchange offices, and ATMs. However, it is important to compare the exchange rates and fees before making a transaction.
Banks
Banks typically offer the best exchange rates, but they may charge higher fees. It is recommended to check with your bank beforehand to see if they have a partnership with a Mexican bank to avoid transaction fees.
Exchange Offices
Exchange offices are found in tourist areas and airports. However, they may charge higher fees and offer lower exchange rates compared to banks.
ATMs
ATMs are convenient and offer competitive exchange rates. However, some ATMs may charge a foreign transaction fee, so it is recommended to check with your bank beforehand.
When to Exchange Your Money
The exchange rate is constantly fluctuating, so it is recommended to keep an eye on it and exchange your money when the rate is in your favor. It is also recommended to avoid exchanging your money at the airport as they typically offer lower exchange rates.
Tips for Exchanging Your Money
Here are some tips to help you get the best exchange rate:
1. Research the exchange rates
Before exchanging your money, research the current exchange rates and compare them to different exchange options.
2. Avoid exchanging money at the airport
As mentioned earlier, airports typically offer lower exchange rates, so it is best to avoid exchanging your money there.
3. Watch out for hidden fees
Be aware of hidden fees, such as foreign transaction fees and ATM fees.
4. Consider using a credit card
Using a credit card may be a good option as some credit cards offer no foreign transaction fees and competitive exchange rates.
5. Exchange only what you need
Exchange only the amount of money that you need to avoid extra fees and potential loss due to currency fluctuations.
Conclusion
In conclusion, 1200 dollars is equivalent to approximately 23,400 pesos. When exchanging your money, it is recommended to compare the exchange rates and fees before making a transaction. It is also important to keep an eye on the exchange rate and exchange your money when it is in your favor. By following these tips, you can get the best exchange rate and make the most out of your money while in Mexico.
