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Currency and Cost of Living

Mexico - Currency and Cost of Living

The official currency of Mexico is the Mexican Peso, and there are 100 cents (centavos) to a Peso.

Mexican coins are minted in denominations of 5, 10, 20 and 50 cent pieces. In addition, there are larger value coins worth 1, 5, 10 and 20 Pesos. Mexican notes are printed in denominations of 20, 50, 100, 200, 500 and 1000 Pesos.

The cost of living is what attracts many expatriates to Mexico. Rent is considerably less than what you would expect to pay in the United States, although it varies greatly with the area. Where you might be able to find a lovely home for $100 per month in a smaller city, that same house could cost 10 times that in Mexico City. Food is relatively inexpensive, especially if you take advantage of the marketplaces that sell fresh fruits and vegetables at greatly reduced prices. To give you an example of everyday foods, you can expect to pay about $1.40 for a loaf of bread, and $0.90 for a carton of milk.

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