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Mexico Economy

Mexico Economy and Currency

Posted on July 30, 2021July 26, 2021 by hyperrestaurant

ECONOMY

Business etiquette

English is often spoken in business circles, but knowledge of Spanish is an advantage. Spanish business letters should also be answered in Spanish. Correct clothing is expected. Mexicans value politeness and correct salutation, in case of doubt you should use Licenciado instead of Señor. Appointments are usually made. The best times for business travel are January to June and September to November. The two weeks before and after Christmas and Easter should be avoided.

Opening hours

The business hours are very different, i. General offices are open Mon-Fri 9 a.m.-2 p.m. and 3 p.m.-6 p.m. / 7 p.m. For business lunches during the lunch break, the break time is usually longer.

Economy

Trade Mission of the United Mexican States
Rüsterstrasse 1, D-60325 Frankfurt / M.
Tel: (069) 972 69 80. Latin American Chamber of Commerce in Switzerland c / o DPS Communications, Gessnerallee 28, CH-8001 Zurich Tel: (044) 699 54 47. Internet: www.latcam.ch Cámara Mexicano-Alemana de Comercio e Industria, AC (German-Mexican Chamber of Commerce and Industry) German Center, Av. Santa Fe 170, Col. Lomas de Sta. Fe, MX-01210 México, DF Tel: (055) 15 00 59 00. Internet: www.camexa.com.mx Confederación de Cámaras Nacionales de Comercio, Servicios y Turismo (CONCANACO) (Chamber of Commerce)

3rd Floor, Balderas 144, Col. Centro, MX-06079 México, DF
Tel: (055) 57 22 93 00.
Internet: nueva.concanaco.com.mx/

Business contacts

Trade Mission of the United Mexican States
Rüsterstrasse 1, D-60325 Frankfurt / M.
Tel: (069) 972 69 80. Latin American Chamber of Commerce in Switzerland c / o DPS Communications, Gessnerallee 28, CH-8001 Zurich Tel: (044) 699 54 47. Internet: www.latcam.ch Cámara Mexicano-Alemana de Comercio e Industria, AC (German-Mexican Chamber of Commerce and Industry) German Center, Av. Santa Fe 170, Col. Lomas de Sta. Fe, MX-01210 México, DF Tel: (055) 15 00 59 00. Internet: www.camexa.com.mx Confederación de Cámaras Nacionales de Comercio, Servicios y Turismo (CONCANACO) (Chamber of Commerce)

3rd Floor, Balderas 144, Col. Centro, MX-06079 México, DF
Tel: (055) 57 22 93 00.
Internet: www.concanaco.com.mx

Mexico Economy

COMMUNICATION

Phone

The country code is 0052. Public telephone booths can be used with phone cards and sometimes also with credit cards. International calls are possible in specially labeled telephone boxes (Caseta de larga distancia). Telephone cards (Tarjeta telefónica) are available in shops, department stores, kiosks, hotels, pharmacies and online. Phone cards can be topped up over the Internet. Another option is Internet telephony.

Emergency numbers: Police 066, accident rescue 065 and fire brigade 068.

Cellphone

According to internetsailors, Triband cell phones can be used in Mexico. AMPS network, operator: At & T (Internet: www.att.com.mx/). A GSM network (GSM 1900) is provided by Telcel (Internet: www.telcel.com). International roaming agreements exist. Mobile phones can be rented on site at the airport or at bus stations. Not all parts of the country are covered by the mobile network.

Internet

Internet provider is e.g. Cablecom (Internet: www.cablecom.com.mx). There are Internet cafes in all regions, especially in the main tourist areas. An overview of Wi-Fi hotspots can be found at www.hotspotlocations.com.

Post Office

Post to Europe takes around ten to fourteen working days.

Radio

Since the use of shortwave frequencies changes several times over the course of a year, it is advisable to contact Deutsche Welle customer service directly (Tel: (+49) (0228) 429 32 08. Internet: www.dw-world.de) to request.

MONEY

Currency

1 Mexican Nuevo Peso = 100 Centavos. Currency abbreviation: Mex $, MXN (ISO code).

There are banknotes in denominations of 1000, 500, 200, 100, 50, 20 and 10 (rarely) Mex $,

Coins are in circulation in denominations of 20, 10, 5, 2 and 1 Mex $ as well as 50 and (rarely) 20 Centavos.

Credit cards

Mainly MasterCard and Visa, but (less common) American Express and Diners Club are accepted. (Occasional payment difficulties must be taken into account.) Cash withdrawals are possible in banks or at ATMs; it is recommended to use ATMs in buildings or secure areas. Details from the issuer of the credit card in question.

ATMs

ec / Maestro card / Sparcard
cards with the Cirrus or Maestro symbol are accepted throughout Europe and worldwide. Cash can be withdrawn using the EC card at ATMs connected to the Maestro system. ATMs can be found everywhere in Playa del Carmen and Cancun. Many hotels also have ATMs. It is recommended to use ATMs in banks and secured areas. Further information from banks and credit institutes.

Attention: Travelers who pay with their bank customer card abroad and want to withdraw money should find out about the options for using their card from their bank prior to departure.

Bank opening times

Mon-Fri 9 a.m. to 4 p.m. (sometimes until 5 p.m.), smaller branches have shorter opening times. Partly Sat 9 a.m. to 1 p.m.

Foreign exchange regulations

No restrictions. The import and export of the national currency, as well as the import of foreign currency, must be declared for an amount equivalent to US $ 10,000. The export of foreign currencies is permitted up to the amount declared on entry, minus the exchange amounts.

Currency Exchange

Common currencies can easily be exchanged in tourist areas or larger cities, and in many places you can also pay in US dollars. Exchange offices (casas de cambio) that exchange euros for Mexican pesos are generally accepted. General Open from Mon-Fri 8.30 a.m. to 6 p.m. and Sat / Sun from 8.30 a.m. to 2 p.m. There is a 24-hour service at international airports. Cash in euros can also be changed in larger hotels.

It is advisable to bring cash in euros.

Money transfers are possible via Western Union or via Deutsche Post AG.

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