Zih Bad Old Days - Exchange Rate

My first visit to Mexico was a three or four week trip in December 1982. I can’t recall the exchange rate when I arrived, but it was something like 70 to the US dollar. While I was there it went to 90:1 “on the street”. Then 110:1. I paid for my five star hotel in Acapulco in street pesos that worked out to US$17/night.

I stayed in Taxco for US$14/night.

By the time I left Mexico City in late December 1982 I think it was M$140:US$1 on the street.

I have been in Mexico once or twice each year since then watching the peso go to 3400:1.

Then Mexicans had to experience the 1994 devaluation.

I hope Mexicans never again have to experience the crushing devaluation of their currency. While it might bring benefits to we gringos, it hurts the people we care about.