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Old 04-14-2008, 05:32 AM
 
Location: El Paso, TX
5,080 posts, read 8,999,067 times
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First Pizza Patron and now Philip's 66 is accepting pesos.. whats wrong with American money? Why are all these businesses now accepting pesos, there are currency exchanges all over the place. First they make us learn their language to work in El Paso, now they are replacing our money.. what the heck is going on? We have been a border city since we became a city, and I don't ever recall American business taking pesos, now it seems so many are.. really whats going on, and don't use that were a border city as an excuse.
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Old 04-14-2008, 05:57 AM
 
639 posts, read 911,757 times
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Most El Paso businesses have been accepting pesos since the begining of time, it is those that dont accept the color of the skin that have issues with what ever comes from south of the border, currency is just what it is, Europe accepts the green back why cant the US accept the peso?
El Paso has been a border city since the border was placed at it's feet, in other words El Paso was there before the border so the best deal with dealing with anything from Mexico when one dont like what comes from the South is move away and move far far away, maybe somewhere where the sun dont shine all year round that even the Mexican radio waves dont reach that far.
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Old 04-14-2008, 07:07 AM
 
Location: Mo City, TX
1,728 posts, read 3,182,924 times
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Quote:
Originally Posted by HIGH!Lonesome View Post
Most El Paso businesses have been accepting pesos since the begining of time, it is those that dont accept the color of the skin that have issues with what ever comes from south of the border, currency is just what it is, Europe accepts the green back why cant the US accept the peso?
El Paso has been a border city since the border was placed at it's feet, in other words El Paso was there before the border so the best deal with dealing with anything from Mexico when one dont like what comes from the South is move away and move far far away, maybe somewhere where the sun dont shine all year round that even the Mexican radio waves dont reach that far.

My take on this is totally different, I see it as a sign of financial stability in Mexico because for a long time you would be crazy to accept pesos since it's value would change day to day and usually not for the better. I am amazed that the exchange rate has not really fluctuated all that much in recent years. It seems now that the dollar is in trouble with it's value droping against other currencyes, especially the euro.
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Old 04-14-2008, 09:47 AM
 
105 posts, read 471,791 times
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Quote:
Originally Posted by Muhnay View Post
First Pizza Patron and now Philip's 66 is accepting pesos.. whats wrong with American money? Why are all these businesses now accepting pesos, there are currency exchanges all over the place. First they make us learn their language to work in El Paso, now they are replacing our money.. what the heck is going on? We have been a border city since we became a city, and I don't ever recall American business taking pesos, now it seems so many are.. really whats going on, and don't use that were a border city as an excuse.
For decades, businesses in states along our northern border with Canada have accepted Canadian currency with no problem. Also, many large cities have had currency exchange outlets for visiting European tourists and shoppers for decades, as well, and no one's uttered so much as a peep. There are now many businesses in NYC, for example, that accept Euros.

No one is "replacing" American currency--quite the opposite: many Mexican consumers exchange their pesos into American currency all the time. The volume of people crossing the border for work, shopping, and tourism creates a demand for more currency exchange businesses and also increases the need for local businesses to accept pesos.

There are many currency exchange houses in Mexico and many, many businesses in Mexico that accept American dollars. In fact, quite a few businesses in Mexico prefer American currency over Mexican currency. Personally, I see this controversy as a bunch of hot air.
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Old 04-14-2008, 10:25 AM
 
2,625 posts, read 10,742,046 times
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i agree wth TexanWest, i dont see what the problem is, as long as theirs currency coming in to the business, dont matter if its chinese, african, alien, dont matter money is money, and as a business owner, your in business to make money!
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Old 04-14-2008, 10:52 AM
 
Location: Bayside, NY
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Due to the devaluation of the U.S. $ many Europeans that work in the states are now asking to get paid in Euros.
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Old 04-14-2008, 05:53 PM
 
639 posts, read 911,757 times
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Originally Posted by lipbalm View Post
My take on this is totally different, I see it as a sign of financial stability in Mexico because for a long time you would be crazy to accept pesos since it's value would change day to day and usually not for the better. I am amazed that the exchange rate has not really fluctuated all that much in recent years. It seems now that the dollar is in trouble with it's value droping against other currencyes, especially the euro.
The dollar has taken such a beating, I remember when we would travel from port to port country to country and we would exchange American currency for foreign money, we use to call it "funny money" and for about one hundred American dollars we would get in return hordes of foreign dollar bills wether they were either Italian Lira, Filipino Piso's, Taiwanese NT's, Hong Kong dollars, Figi dollars, Austrailian dollars, Egyptian diners,Spanish Pesetas, and so on, meanwhile back in El Paso since I started working in the late 60's we would always accept pesos at our family business and we would deposit the pesos along with the regular money, but it was counted seperately but and it always added up.

Yes we would accept pesos back in the sixties but in paper money only never in coins.
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Old 04-14-2008, 08:55 PM
 
57 posts, read 170,563 times
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Default ,,

Well one reason that often times border business’s accept this is because it makes it easier to take in large sums and not have to declare it on taxes and it will facilitate essentially a type of money laundering for the transmission of funds across the border.

This is the same reason why many people prefer to be paid in cash or employers pay employee's in cash if there is not a paper trail it doesn't happen.

Those that don't deal in peso's every day are not as likely to hit on them for outbound reporting requirements.

Also I've experienced this on the northern border with both the Canadian and US Dollar and this is not all that common up there.
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Old 04-15-2008, 11:35 AM
 
507 posts, read 1,953,800 times
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Well-said TXWest. Heck, businesses in Miami and Tampa accept Canadian money - to accommodate all the snowbirds from up north. So it happens everywhere. Those with business acumen know that accommodating your customer is a smart thing to do, but that accepting other currencies creates a risk of loss of revenue due to fluctuations in exchange rates and processing costs. But I guess we should all believe that it is a zero-sum game and that the sky will fall if businesses in EP accept those God-foresaken pesos.
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Old 04-15-2008, 12:04 PM
 
Location: Metro Milwaukee, WI
3,198 posts, read 12,040,639 times
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I actually do understand why some might be frustrated with the acceptance of pesos...I don't share with their frustration or agree with it per se, but I do understand it.

Having said that though, since I can go into Mexico virtually anywhere and get my dollars / American money accepted (quite eagerly I might add! ) the reverse thing here - especially in border areas - doesn't really bother me. I would rather that folks spend SOME currency into the El Paso economy - even if Mexican (or Canadian, etc.) than none at all!
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