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The currency of Mexico is the Mexican Peso, with one Peso equalling 100 centavos. Notes come in denominations of P500, 200, 100, 50 and 20. Coins are in denominations of P20, 10, 5, 2 and 1, as well as 50, 20, 10 and 5 centavos. Money can be exchanged only at licensed banks. Traveller’s cheques are accepted in most banks and larger hotels, though to avoid additional conversion charges they should be in US Dollars. ATMs are available, and major international credit and debit cards are accepted. See: Visa: http://www.visa.com/atms/ MasterCard: http://www.mastercard.com/cardholderservices/atm The import and export of domestic currency is limited to the equivalent of $10,000, with larger amounts requiring declaration. The import of foreign currency is unlimited, as long as it is declared, and the export of foreign currency is limited to the amount declared on entry. Business: General banking hours in most areas are from 0900 to 1700 Mondays to Fridays. Shopping hours are generally from 0900 to 1400 then from 1600 to 2000 Mondays to Fridays, and from 0900 to 2000 Mondays to Saturdays in Mexico City. Business dealings in Mexico are formal affairs, and a firm handshake is the usual greeting. Mexicans are a friendly people in general, and friendships are valued as much as family. Tipping for services tends to be from 15 to 20 percent, depending on how good the service has been – service charges are not usually included in bills.
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