Peso/US dollar exchange rip off in RP restaurants.

L

lagrimas85

AKA Carnac
NOT EVERYWHERE Fabiola and I took a couple to the Satisfied Frog, the other day for fried chicken (its very good). When the bill came 4 ice teas and 2 hole fried chickens it was 40 dllrs, above it priced in pesos at 480.00 or 12 to 1.. Theyŕe prices are in dollars, so I explained to the waitress she was cheating herself by doing the exchange backwards...if you were priced in pesos you would be doing great at 12 to 1, but since your prices are in dollars and I just sold dollars at 14.38 to 1, the late lunch was only going to cost me about $33.00 paying in pesos....She didnt get it so I gave her the 480.00 pesos and a tip that totaled 40 dllrs (575 pesos).... at 14.38 .... I tried....she just didnt understand..
Last edited: Friday at 10:12 PM
 
dry heat

dry heat

Pigeon coup coordinator
an easy solution is to ask for the spanish menu. prices will be listed in pesos and the expectation will be that you are paying in pesos.
 
Wood Spinner

Wood Spinner

Guest
Don't question and tell them that you are paying in pesos. and like dry heat ask for a Spanish menu. I try to pay in pesos every where I can. This also makes you sure of what you are paying. But if you are in a primarily american owned place you will be paying in dollars. Kind of a catch 22, pay in what ever works best for you.
 
Stuart

Stuart

Aye carumba!!!
Staff member
Yeah, pesos to dollars... dollars to pesos... the exchange game. I figured out a long time ago if I just pay in rubles, nobody knows what the heck to think! :D

Goes right along with the "Gringo Tax" which everyone and their mamacita will tell you doesn't exist. But oh, it does, and you can prove it to yourself the same way I did. Go into the beer distributor and by a case of Pacifico in cans (no deposit, was $22). Then, have your local Penasco fishing buddy go into the same distributor and buy the exact same case. $17. Same place, same beer, same amount -- $5 more for the gringo. o_O

As Yuma James said, is the extra $5 gonna kill me or stop me from coming to Penasco again? Naaah, probably not. It is the principle of the thing and shady business at best. :mad:
 
Roberto

Roberto

Guest
As a matter of principle, I will not return to a store that does that. I try not to shop at all if prices are not public. Still plenty of places that have the price clearly marked on the product.
 
T

The Man

Guest
When we were at Max' a while back our bill was in $US and went to pay at the counter, Max (John) was there and told him I only pay here in Mexico in
pesos. When John computed it out he used a lower exchange rate then what was posted...near 15:1.
He said he used a lower rate which is better for us, I think he said he used 12 or
12.5 rate to our bill.
So Max is fair.

DD
 
Hillbeartoe

Hillbeartoe

Guest
Wow, If your buying pesos at 15:1 but paying at 12.5:1 then on lets say a $20 bill that saved you about 5%. Inversely he short changed himself. Very nice guy indeed.
 
brokenwave

brokenwave

Guest
Hillbeartoe said:
Wow, If your buying pesos at 15:1 but paying at 12.5:1 then on lets say a $20 bill that saved you about 5%. Inversely he short changed himself. Very nice guy indeed.
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Actually, it's closer to a 16% savings. Which is why I will try to use Peso's for most everything over $25, I buy in Mexico.

I did a $7,500 construction project 2 1/2 years ago and by using the spread I was able to save almost $1,100 on the project by using peso's vs dollars.
I bought at 14-1 vs the 12 to 1 that was being used as the normal in-town rate.

I do the math and use whichever currency is easier on my wallet. (within reason) Just wish all the local people could enjoy the same buying power.
 
Stuart

Stuart

Aye carumba!!!
Staff member
mexicoruss said:
Try spending foreign currency in the USA anywhere except the Nogale McDonalds. It is confusing and changes for both parties involved.
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I agree, Russ. Having traveled a lot of places in the world, nearly all would gladly take dollars. But, try paying for anything in the US with a foreign currency and they look at you like you've got lobsters crawling out of your mouth.
 
az-dan

az-dan

Guest
GV Jack said:
I have had many a breakfast at Max's and an occasional dinner. I have never been disappointed nor have I felt cheated.

The highlight of our breakfast is their fabulous Bloody Mary, right AZ Dan? John is indeed a solid great guy.
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Yes to all of the above. Now you got me thinking Max's Bloody Mary ..............
 
DeniseAck

DeniseAck

Guest
Just a side note here--If you want to pay for something originally listed in USD by credit card, they have to exchange it to Pesos (at whatever exchange rate they post). Then you also might have to pay a foreign transaction fee on your cc bill. If you open up an account at Bancomer, you can use their debit card (paying in Pesos) with no extra fee. It uses the smart chip technology so we've never had a problem at gas stations or anywhere else (regarding cloning the magnetic stripe). You can also get cash back at any grocery store or Walmart/Sams. Pretty convenient.

The exchange rate changes more often than menus are printed so your $2 beer that used to be 24 pesos (1.5 yrs ago) is now 30 pesos. That's a 25% increase. Or a 25% discount if you are paying from the Spanish menu. That same beer is now only costing you $1.60.
 
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InkaRoads

InkaRoads

cronopiador
people, people, people, you guys worry to much about this insignificant problem, that many USA citizens have, if you are in Japan they will not take your dollars they will take ONLY yens and nothing else, if you go to Mexico it is for your advantage to pay in pesos, you will end up on top and saving TONS of dollars, every few weeks there is someone here complaining about the exchange rate and how much they get ripped of when they pay in dollars, well WAKE UP if you are in Mexico uses pesos or go preach to the coro en los Estados Unidos de America aka USA!!! or better yet try using pesos to pay the mexican dude that sells those delicious bacon wrap hot dog at the stand in Baseline and I-10!!!!!! you know already his answer will be NO PESOS!!!!
 
YumaJames

YumaJames

Guest
InkaRoads, you're entirely missing my point. I agree with you 100%, and that's exactly what I try to do. When I'm in Mexico I speak Spanish, and try to pay in pesos. But it's not right because I am American they assume I'm going to pay in US dollars so they give me my bill in US dollars (and charge a reduced exchange rate to convert it from pesos to US dollars), then charge me another reduced exchange rate just because I'm paying in pesos. My point is just give my my bill in pesos initially because I want to pay in pesos.
 
InkaRoads

InkaRoads

cronopiador
YumaJames said:
InkaRoads, you're entirely missing my point. I agree with you 100%, and that's exactly what I try to do. When I'm in Mexico I speak Spanish, and try to pay in pesos. But it's not right because I am American they assume I'm going to pay in US dollars so they give me my bill in US dollars (and charge a reduced exchange rate to convert it from pesos to US dollars), then charge me another reduced exchange rate just because I'm paying in pesos. My point is just give my my bill in pesos initially because I want to pay in pesos.
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YumaJaime, first of all I need to apologies to you as I did not read your initial post, SHAME ON ME!!!!!! I was just going by the responses I read from the second page of this thread, sometimes is just as easy to avoid reading the whole thread as one has to fight his/her way thru a bunch of garbage that has nothing to do with the original thread.
What I will suggest you do in situations like this ask for the menu, in spanish with prices in pesos and pay from there no fuzz no mas!!!! and if they try to charge more than the menu calls for just walk away.
It does not matter if the establishment is own by a mexican or a usa citizen a rip off is a rip off no matter where it happens or by whom and I bet they rather get paid what the menu calls for than have you walk away without paying!!!!
Granted you will not be allowed to go back to that place but then again will you go back to get ripped off again?????? not me don't care how good the place is, it is still a rip off place!!!!! and do not be affraid to name the restaurant that way people will start either asking for the spanish menu or just stop going to places where they know they can get robbed!!!!
By the way I saw a few cucarachas last time I went "there" 3 years ago and the service sucked majorly!!!!!!!
 
playaperro

playaperro

El Pirata
Wahoo said:
Current price of ONE dollar is 15.10 pesos. Current price of ONE peso is .0662 cents.

Each is the reciprocal and the same. You have One dollar? Want to convert that to pesos? The Action is to sell the dollar; 1 / .o662 = 15.10 pesos. Yes, for exchanging currency in small amounts the spread is about 8%, huge profit center for banks! Xoom etc. Both in fees and spreads. And 12 pesos to 1$ to official 15; is a quick 20% extra profit.
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Most Trappers make more money off the exchange rate than the product (murdered animals) they are selling, they all become Bankers so forget about the rate you see on the internet.
 
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