Today new limits were announced (DOF, in Spanish) on how many US dollars can be exchanged for pesos each month. These limits will come into force in 90 days (middle of Sepember 2010) for businesses, but for private customers the date has been brought forward to 21st June 2010.
Non-Bank account holders and Tourists
Tourists, and citizens and residents without a bank account, will only be allowed to exchange up to US$300 into Pesos each day, with a cumulative limit of US$1500 per month. It's not clear how this will be enforced, as it seems unlikely all money changers will be connected to a real-time national database of passport numbers...
Bank Account Holders
If you have a Mexican bank account you are allowed to deposit up to $4000 each month in cash dollars. This will be much easier to track and enforce, although if you have more than one bank account it remains to be seen if they exchange information.
Businesses, but not private individuals, in the border area (including the whole of Baja California) will be allowed to exchange up to $7000 each month.
Just Cash
These limits only apply to cash, not to checks, wire transfers, etc. There is no restriction on the purchase of dollars.
