Friday, August 12, 2011

Conversion Pesos to Dollars

I have posted the actual costs in pesos rather than in dollars to better inform you of the cost per item. When I want to figure out quickly what anything would cost in dollars, I simply use 10% of the cost in pesos. It’s not accurate but the conversion rate changes constantly.  A while back it was over 12 pesos for 1 dollar. It is now closer to 11 to the dollar. So I just round it up for safety of calculations. For example, my cost for one bag of cement is $110 pesos, which would translate to roughly $10. per bag, a bit less on good days. For quick calculations, everyone does the 10% here to end up with a rough figure.

Another consideration is the IVA, the 16% Mexican tax. So even though the quote from merchants is BEFORE the tax, it does make a sizeable difference in the final price per item once the tax is added on. So I have added the tax on each item and rounded up to pesos, dropping the centavos.

In the end, if I’m left with more dollars, I’ll have a cappuccino.

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