Converting US Dollars to Pesos

I'm considering a purchase in Zihua that requires moving a decent amount of US Dollars to Mexican Pesos.

In your experience, what is the best service/bank/institutions to use to convert these two currencies?

Have noticed different institutions have different exchange rates.

Any input or help is appreciated.

I'm considering a purchase in Zihua that requires moving a decent amount of US Dollars to Mexican Pesos.

In your experience, what is the best service/bank/institutions to use to convert these two currencies?

Have noticed different institutions have different exchange rates.

Any input or help is appreciated.

I believe Intercam is the best local bank for exchanging and transferring dollars.

If you don't have to convert to cash, check out Wise.com

Cheapest way to convert to pesos at the best rate and wire to Mexican accounts. Also xe.com - which one is best depends on the amount.

I'm considering a purchase in Zihua that requires moving a decent amount of US Dollars to Mexican Pesos.

You can use an international wire transfer via your U.S. bank to their Mexican bank. At both banks, you will pay a fee which customarily was US$25 to US$30 dollars (but may have gone up recently). However, you will get the interbank exchange rate which is usually the best rate available. As mentioned, Wise.com will also give you a very good exchange rate. However, with quantities larger than US$2,000, they will want you to use a wire transfer.

Just a side note as to the Peso/USD rates.
I posted months back that the Peso would gain strength in the months to come and we are now witnessing a USD near a 5 yr low against the Peso and I expect it to continue (watch the DXY currently 101 could drop into the 90's).
This is good news for MX locals in some trade/economic areas yet I suspect it could be bad for Americans that are interested in buying a Primary or 2nd home as there USD will buy them far less thus we may witness more inventory hitting the MX market (and slowing that market which affects all other markets within MX) just as we are seeing now in the US due to our economy is failing.

I do believe in 24' when the Markets will have a major correction (which we are witnessing the melt up now, this is the final stage of the 40+ yr bull market) that many have forecasted, we will see a "flight to safety" which drive folks back to the USD thus it rising back up (again watch the DXY index could go up to 150) and of course would be the best time to buy foreign assets like MX property, etc.
That window of course will be temporary.
All of this is IMO, not investing advice...
Merry Christmas everyone

OK, opinions.

I think the peso will get weaker into 24 as time goes on. The GDP of Mexico will be hurt by the Hurricane that hit Acapulco. Also I see confusion and weakness with it being an Election year as there will no doubt, be new leadership.
The strong peso [currently] will result in LESS spending and investment.

The US economy. I think the FED has done a masterful job of cooling inflation. Just filled our gas tank at $2.52/gallon and the job market, with manufacturing is strong.

I see slight fluctuations and status Quo through the election where Democrats will regain all branches of congress and the oval office.

All of this is not investing advice...

Enjoy the new year and all the possibilities ahead!!!

Just a side note as to the Peso/USD rates.
I posted months back that the Peso would gain strength in the months to come and we are now witnessing a USD near a 5 yr low against the Peso and I expect it to continue (watch the DXY currently 101 could drop into the 90's).
This is good news for MX locals in some trade/economic areas yet I suspect it could be bad for Americans that are interested in buying a Primary or 2nd home as there USD will buy them far less thus we may witness more inventory hitting the MX market (and slowing that market which affects all other markets within MX) just as we are seeing now in the US due to our economy is failing.

I do believe in 24' when the Markets will have a major correction (which we are witnessing the melt up now, this is the final stage of the 40+ yr bull market) that many have forecasted, we will see a "flight to safety" which drive folks back to the USD thus it rising back up (again watch the DXY index could go up to 150) and of course would be the best time to buy foreign assets like MX property, etc.
That window of course will be temporary.
All of this is IMO, not investing advice...
Merry Christmas everyone

The U.S. economy is not failing by any stretch of the imagination. Republicans ruin the economy, and Democrats fix it. Been watching this happen since Ronnie Raygun wiped out the middle class, busted unions, made tens of thousands homeless and gave their money to the wealthy.

You said: "The U.S. economy is not failing by any stretch of the imagination. Republicans ruin the economy, and Democrats fix it. Been watching this happen since Ronnie Raygun wiped out the middle class, busted unions, made tens of thousands homeless and gave their money to the wealthy"

I dont know if you live up here in the states or down in Zihua but from what we are experiencing all categories of costs have shot up: Housing, Food, Fuel, etc.
And jobs (high paying jobs that fuel all of the sectors on spending these are jobs that are in the $250k levels and up) are dropping hard specifically in the tech sector which is my expertise 40 yrs within that sector.
Whats interesting is jobs numbers and CPI numbers come out positive then are readjusted lower a month later with no fan fare. (water carrying by the MSM)

Waving the DNC flag may make one feel good but in the end that wont pay the bills (or blaming one side, they both suck) as the economic engine comes to a stall and this time the FED wont be able to "print" its way out of this hurricane that is swelling.
Housing markets drive consumer spending and you need high paying jobs to buy a house, which service industry jobs (the vast majority of jobs) dont cut it and never will as AI will be replacing most of those by the end of the decade.
Hope that helps

Really!

You said: "The U.S. economy is not failing by any stretch of the imagination. Republicans ruin the economy, and Democrats fix it. Been watching this happen since Ronnie Raygun wiped out the middle class, busted unions, made tens of thousands homeless and gave their money to the wealthy"

I dont know if you live up here in the states or down in Zihua but from what we are experiencing all categories of costs have shot up: Housing, Food, Fuel, etc.
And jobs (high paying jobs that fuel all of the sectors on spending these are jobs that are in the $250k levels and up) are dropping hard specifically in the tech sector which is my expertise 40 yrs within that sector.
Whats interesting is jobs numbers and CPI numbers come out positive then are readjusted lower a month later with no fan fare. (water carrying by the MSM)

Waving the DNC flag may make one feel good but in the end that wont pay the bills (or blaming one side, they both suck) as the economic engine comes to a stall and this time the FED wont be able to "print" its way out of this hurricane that is swelling.
Housing markets drive consumer spending and you need high paying jobs to buy a house, which service industry jobs (the vast majority of jobs) dont cut it and never will as AI will be replacing most of those by the end of the decade.
Hope that helps

All those huge corporations making record profits and paying their CEOs and other execs record bonuses and artificially inflating prices so you'll blame the Dems and vote for the people who will give them more tax breaks are the problem, if you think prices are high.

Housing markets, oh yes, the ones being driven by speculative investors, not by families. Uh huh.

Yet here you all are taking vacations in foreign countries and spending more than ever.

Ya should've voted for Bernie!

Tax breaks and vacations, sounds better with closed eyes.