Local Currency and Exchange Information

The local currency in Oaxaca, Mexico, is the Mexican Peso (MXN). As of the latest exchange rates, 1 USD is approximately 18 to 20 MXN, but this can fluctuate. It’s advisable to check the latest rates before your trip.

Currency exchange can typically be done at:

• Airports
• Local banks
• Currency exchange offices
• ATM machines

Note: Always compare rates, as airport exchanges often have higher fees.

Payment Methods and Banking Options

In Oaxaca, both cash and card payments are widely accepted, but cash is preferred in smaller shops and markets.

• ATMs: Widely available, especially in urban areas. Use ATMs associated with banks for better security and lower fees.
• Credit Cards: Visa and MasterCard are commonly accepted, but it's wise to carry cash for smaller establishments.
• Mobile Payments: Some places accept mobile wallets, but this is less common.

Before traveling, notify your bank of your travel plans to avoid any issues with card usage abroad.

Tipping Customs and Payment Etiquette

Tipping is customary in Oaxaca, and the general guideline is:

• Restaurants: 10-15% of the total bill.
• Hotels: 20-50 MXN for bellhops and housekeeping.
• Taxis: Round up the fare or add a small tip.

Always tip in cash, even if the bill is paid by card.

Cost Considerations and Budgeting Tips

Oaxaca is generally affordable, making it a popular destination for travelers and digital nomads. Here are some typical costs:

• Meals: Street food can cost as little as 30-50 MXN, while mid-range restaurants may charge 150-300 MXN per meal.
• Accommodation: Budget options start around 300 MXN per night, while boutique hotels can range from 800-2000 MXN.
• Transportation: Local buses are inexpensive (about 10-20 MXN), while taxis should be negotiated in advance.

Budget Tip: Use public transportation and eat at local markets to save money.

Practical Financial Advice for Travelers

• Cash vs. Card: Carry a mix of cash and cards. Use cash for markets and small vendors to avoid card transaction fees.
• Emergency Funds: Always have a backup method for accessing funds, such as a second card or emergency cash.
• Safety Precautions: Keep your cash and cards in different locations to minimize losses in case of theft.
• Currency Conversion: Avoid converting money through hotels or non-banking institutions due to poor rates.

By being aware of local financial practices and preparing accordingly, you can enjoy your stay in Oaxaca without financial stress.