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Currency Questions


jce2

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Been doing a lot of research and coming up with contradictory answers on what currecny to use in various ports or whether to use credit cards.  This is our first cruise and we will be stopping in Cozumel, Grand Caymen's, and Falmouth.

 

Cozumel

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Excursion = "Picturesque Walking and Tasting Tour"

     Supposedly we will have time for shopping around the plaza area at the end.  Just how much time, and how we gt back to the ship I don;t know.  I am assuming the guide will give us a time and meeting point to get back. 

 

Shopping List = Hammock, Cuban Cigars, Jewelry.  (Depending at what dock we arrive at may try for Margarettaville T-Shirt)

 

Currency = No idea!  Would assume pesos but have actually read (though it makes no sense to me!) that the only take USD (Refusing their native currency??).  Others say I can just charge on my visa.  HELP!!

 

Grand Caymans

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Excursion = Stingray City and reef snorkle

       This should limit shopping to area around the tender docks.

 

Shopping List = Grand Cayman's National Team Soccer Jersey ( I always pick one odd item to get when on vacation), jewelry, and if time to walk to it, Margarittaville T-Shirt.  Everything I read suggests Caymans are a lousy place to shop as they have a high cost of living there.

 

Currency = Cayman dollar but I read that American Dollars are accepted everywhere.  

 

 

Falmouth

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Excursion = Margarittaville Catamaran Snorkle  (subject to change)

 

Shopping List = Blue Mountain Coffee,  Aged Appleton Rum, jewelry, Margarittaville t-shirt.   Hopefully all these things can be found in the port complex as my wife buys in to every horror story ever told so there is little hope of us wandering outside the complex (personally I would have liked to walk down the street to a local grocery store....)

 

Currency = Jamaican dollars.....but I assuming the port complex takes US dollars and credit cards.

 

 

 

Am I overthinking al this?  Should I just do credit card all the time and quit worrying about it?  I could, of course carry both currencies and play it by ear but them I have to figure out the budget for each country in advance, exchange money (twice!) etc.

 

So, experienced cruisers.....What do you do?

 

Oh, and no I am not a Margarittaville junkie (though I do enjoy Jimmy Buffet) but when I saw there was one at each of my ports I thought it might be a fun collection to get. 

 

 

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Yes, you are overthinking this.   :D

 

If you don't want to take dollars, then just use a credit card that does not charge you a currency exchange fee.

 

Every one of these ports will gleefully accept your dollars.  The only time I would ever consider local currency is if I were doing some kind of deep dive purchase....something like a pharmacy purchase in Cozumel or something (something completely legit....I know what you're thinking....).  If you are only considering "touristy" kinds of purchases, just take dollars and be done with it.

 

By all means, definitely do the stingray city excursion in Cayman.  It is a must-do at least once.  Back when I first visited GC (way back in the 80's when all there was to do there was SCUBA dive) this was just a local thing and there was NOBODY there the day we went except for us.  The last time we went (maybe 3 years ago) there were literally hundreds of people standing on the sandbar feeding greedy stingrays.  It was still fun though.

 

I'm sure you are, but I will warn you to be a cautious consumer when it comes to jewelry in the Caribbean and/or Mexico.  NEVER start the negotiations at more than 25% of their asking price. For diamonds, it's even lower...

 

Be careful buying a hammock.  Make sure they don't sell you one that has been outside.

 

...and as you suggest, Grand Cayman is VERY expensive.  I always limit my local purchases there.  Cozumel, on the other hand - no holds barred !!

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We've never used anything other than USD. Just take enough on an excursion that you think you need and leave the rest in the safe.

 

I wouldn't be too keen on using a credit card unless I reallllly had to. From a point of view of 'issue avoidance' leave it in the safe...helps prevent a $10,000 cash advance transaction that's not yours from giving you a migraine.

 

Also, many credit cards also have a service fee tacked onto a foreign exchange transaction.

 

Just have an awareness of what the general exchange rate is so that you know you're not getting ripped off. Going beyond that and it turns into more worry than a vacation.

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As others have mentioned, shops in these port areas will all take USD.  My primary credit card does not charge foreign transaction fees, so most purchases go on there for a few reasons - one of which many don't realize.

 

Right now $1USD is $18.92MXN.  Let's say I want a $15 item in a store - there is a value in MXN, marked as such or not.  This value, at the noted rate, should be $283.81MXN.  That in mind, most shops don't adjust their exchange rates daily.  Some leave them fixed for simplicity, others fix them for profit.  As such, as the store what *their* exchange rate is (it's often posted by a register).  Some stores have rates that benefit you, say $18MXN to $1USD.  This is great!  Others however (restaurants seem to do this more than shops, and oddly, Cancun's aiport, too) will go the other way.  

 

For example, I once ate at a restaurant which changed at only $15MXN to $1USD.  This means that when the bill came and they wanted to charge my card, it was in my best interest to ask them to charge me in MXN.  Why?  At that rate, if the actual cost of the meal was $550MXN, they'd charge me, based on their rate, $36.67USD.  Instead, by asking them to charge me in MXN, based on today's rate, I'd pay the equivilent of $29.06

 

I've never had a business resist charging me in the local currency, it's just a press of a button for them.

 

In short, check the exchange rate when you disembark.  Before being charged in USD, ask what rate the shop is using.  If it's close, then great, but if it's not favorable to you, then ask to pay in the local currency on your credit card (assuming you don't pay foreign transaction fees).

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  • 6 months later...

Brand new cruiser here. I have a question on this topic and thought it would be best to post here rather then create a new one. Do all ports accept their local country currency? The reason I ask is that I am Canadian and I might get a better deal for my cash if I get the local currency rather then getting american cash before I leave. 

I also had noticed when I did travel to Jamaica before that the locals gave me better deals and seemed to treat me a little nicer when I used their currency rather then american cash. So I'm just wondering if it will be worth it for me to just get out a little cash for each country I'll be visiting. We stop in Haiti, Jamaica and Mexico. Thanks!

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In the larger Caribbean ports they'll generally take USD.  Cuba, as mentioned does not (and you can read about that here).  Since you're Canadian, if you do visit Cuba, don't change USD there as they charge an extra 10% - change CAD.

If you end up in some of the smaller ports, or off the beaten path, then in some cases you may want to change to the local currency - again, depends where you're at.  I often carry different currencies with me and at times this makes a difference.  In Mexico for example, there is a limit to how many USD a business is allowed to change or deposit each month (I don't recall the details of this) and there is a small cost to changing, so I've been able to save a bit by paying in Pesos (this has been especially true in cabs - though know that cab prices from the port in Cozmel are fixed).  

Some places will take USD by provide change in the local currency, so you'll want to know what the rate is to ensure you're getting the right change.  Also know that if you're using a credit card, some businesses will charge your card in USD, but at the store's rate, which may be better or worse than the actual rate (if you have a card which does not have an international transaction fee).  For this reason, I often asked to be charged in the local currency if paying with a credit card.

In short: Yes, throughout most desintations you'll visit on a Caribbean cruise you'll be fine using USD, but there can be some benefit in changing to local currency depending on where you're going and how much you're spending.

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I agree with the majority on here that USDs is what you should use.  Shopping in Cozumel and Jamaica is where you need to bargain with the sellers.  I have been collecting Hard Rock Cafe ball caps and Ts from all over the Caribbean and Europe from the first time I saw a Hard Rock Cafe so it doesnt necessarily have to be Margarittaville trinkets.  If your thinking on buying silver in Cozumel be careful.  Take a small magnet with you to test the silver but dont let the magnet get near your sea pass cards or your credit cards.   If you like coffee Blue Mountain is some of the best there is.  The Jamaican Blue Mountain Peaberry is great.  According to how much you want you can bargain prices,  dont be afraid to walk away if they dont want to bargain.  Just go to another shop,  they are all over the shopping area next to the ship at Falmouth.   Also the real Blue Mountain needs to have a certified seal to be the real deal.  If its real cheap check and see if its a blend instead of 100% blue mountain.  Good luck and have a happy cruise.  Relax.....your on vacation

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I know this might muddy the water, but when we were in Canada recently, we had mixed reactions at different places.

The shops and such that catered to tourists, gladly excepted US dollars. Some gave back change in US Dollars, some gave change back in Canadian Dollars? Some smaller shops and off the beaten path type of places, I just used a CC that doesn't charge a foreign exchange rate. And I always kept a lot of small bills on hand and always tipped in US Dollars.

I don't think there is a right or wrong answer. Just go with what you are most comfortable with.

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