Pesos are the national currency of Mexico. Each peso can be subdivided into 100 centavos, similar to the way there are 100 cents in every American dollar. When traveling to Mexico, most stores will require you to pay in pesos, although some larger retailers in tourist areas may allow you to pay in dollars. When you travel, you should exchange some of your currency beforehand in case you have trouble finding a hospitable currency exchange rate when you arrive.