Currency exchange rate question

[Moparal]

Don't laugh at me when I ask this


I will be in Mexico for 3 weeks coming up soon.  I should be ok while there. They give me armed guards, interpeters, escorted service and such while I am there.

I do realize that it is a poor country, and I'm trying to figure out how much help money to the needy I can share with families there.  Im not even close to being rich, but like to help all I meet that I see are good people. I get a 1k bonus a month for food when I go down there, above the 840 a month food allowance I get now, and want to make some families happy without actually meeting them.

If you know anything about Mexican money, will you share the comparisons here for me?  I think a little goes a long ways there.  Also where should I do the currency exchange at?

[BIGSHCLUNK]

Alan, I don't know much. But the Mecicans that work for me will all tell you pesos aint worth jack squat! Also be carefull flashing money around. You could easily be surrounded and overwhelmed. Have a great trip! 

[67vertman]

Alan, currently, as of today, the exchange rate is $1.00 USD = $14.1716 MXN Pesos, a pretty good exchange rate.  I would exchange you money in the USA.  You may get a slightly better deal in Mexico but you could also get scammed.

Your a good man, and they will be happy with anything you can give them. 

[Street_Challenged73]

Hopefully you won't have any issues down there, but I received an e-mail from my school saying that Mexico isn't on good terms with the U.S. right now.  As for your question, you'll enjoy the exchange rate there 'cause the U.S. dollar is quite strong to the Peso....I'm paying an extra .28-.30 cents per dollar here in Europe (Euro) and it kind of eats through my money quickly.

[Ross]

A coworker says that Mexicans love getting US currency.  They have bartering power with it over their own Peso.
At least this is the case around the resort staff at the places he has been to.

[Moparal]

I will not be around any type of resorts.  They will give me a home and a maid that cooks 3 meals a day and does my laundry and stuff. 

So a USA bank is the best place.  The families I will try to help are throughout the general area of the plant I'm at.  I was told they average like 7 bucks a 12 hr day.  Not much money.  I will be careful to some degree, but ignorant to my sorroundings for sure.  I gues having a wad full of 1's n 5's would be good to would you say?

[whitesatinmopar]

Understand what your wanting to do Al, but if you start handing out 5 spots the locals will be lined up at your door, it won't take long for that kind of news to spread. I'd consider after being there a couple days and you are able to make a couple contacts, contact the local parrish priest and work through him. That way you are not up front, ("The American with much money"), that could lead to an ugly situation for you.   

[Stacked440]

Understand what your wanting to do Al, but if you start handing out 5 spots the locals will be lined up at your door, it won't take long for that kind of news to spread. I'd consider after being there a couple days and you are able to make a couple contacts, contact the local parrish priest and work through him. That way you are not up front, ("The American with much money"), that could lead to an ugly situation for you.   

 

[heminut]

Alan, I've spent quite a bit of time in Juarez during the summers working with some friends of mine who have a ministry down there building houses for families. WSM is spot on with his advice, get with the local clergy to find out where you can help the most. One thing you might look into is the local orphanages. A lot of the kids there aren't really orphans, the parents leave the kids there while they try to make a living somewhere else. It's a sad situation. When we go down we try to take stuff for the kids like colored pencils and coloring books and crayons. They really seem to like the little stuffed animals too. Just throwing out a couple of suggestions here. I don't know how far down you're going, but if you're going a ways into the interior things might be different than what I've experienced in the border area. At any rate, I don't think you'll go wrong by contacting the local clergy.

[Alaskan_TA]

They do love American dollars.

They also have folks vacationing there that try to "buy" things with them that they can not get at home.

Be very careful offering money to anyone, people will be very suspicious of your motives & you could be mugged. It is a very different atmosphere down there.

[bb71challenger]

Yup, they love the dollar. Wonderful thing you are going to do. I would wait until you are about to leave and then bless the families you see as deserving. That way you dont have everyone and their dog lined up with their hand out like another reply stated. I went down one time for a weekend to help build a roof on a church once in a small community just over the border from El Paso called Saragosa. Those people were literally living in cardboard and pallet houses. They all had homemade cinderblock forms and part of their money went into cement and they would make concrete cinderblocks one or two at a time and build a wall at a time. Slowly but surely they would put up 4 walls and a roof. Some of the hardest working people in the world for sure.