How much is 700 dollars in Mexico? This is a common question among those planning a trip or considering moving to Mexico. The value of the Mexican peso against the US dollar fluctuates constantly, which means the exact amount you can expect to get in Mexican currency can vary. Let’s delve into the details to understand the current exchange rate and how it impacts the purchasing power of 700 dollars in Mexico.
As of the latest available data, the exchange rate between the US dollar and the Mexican peso is approximately 1 USD to 19.8 MXN. To calculate how much 700 dollars would be worth in Mexican pesos, you would multiply 700 by 19.8. This equals 13,900 MXN. Therefore, 700 dollars in Mexico would be equivalent to 13,900 Mexican pesos.
Now, let’s consider the purchasing power of this amount. Mexico is a country with a diverse range of prices, from very affordable to luxury goods. In smaller towns or rural areas, 13,900 MXN can go a long way. You could live comfortably for a month, covering rent, utilities, groceries, and other necessities. However, in larger cities like Mexico City or Cancun, the cost of living is higher, and this amount might only cover a few weeks’ expenses.
When it comes to daily expenses, 13,900 MXN can buy you a lot of goods and services. For instance, a meal at a local restaurant might cost around 50 MXN, while a movie ticket could be as low as 30 MXN. Public transportation costs are also relatively low, with a single ride on the metro or bus ranging from 5 to 10 MXN. However, if you’re looking to splurge on luxury items or travel, this amount might not stretch as far.
It’s important to note that the exchange rate can change at any time, so it’s crucial to stay updated on the latest rates before making financial decisions. Additionally, inflation and other economic factors can also affect the purchasing power of your money in Mexico. By understanding the current exchange rate and the cost of living in different regions, you can better plan your budget and make the most of your 700 dollars in Mexico.
In conclusion, 700 dollars in Mexico is equivalent to 13,900 Mexican pesos. The actual purchasing power of this amount depends on the region you’re in and your lifestyle choices. By staying informed about the exchange rate and the cost of living, you can make the most of your money and enjoy your time in Mexico.
