Introduction
Saving and investing are crucial steps towards financial wellness, but is saving in dollars a wise choice? Sofía Macías, author of Pequeño Cerdo Capitalista, advises that “there is no definitive, unique, or best investment; a diversified portfolio is the best you can do for your investments.”
The Allure of the Dollar
The US dollar is the most widely used reserve currency globally. Governments, businesses, and investors view it as stable, reliable, and solid during economic crises. Consequently, many consider the dollar a means to safeguard their money amidst turbulence in Mexico or international markets, as noted by Hey Banco.
When Dollars Make Sense
Traditionally, the dollar has been a good alternative for protecting emerging market currencies like Mexico’s from inflation. However, if you plan to study abroad, make international trips, purchase property in another country, or even migrate, saving in dollars is logical and sometimes necessary.
Historical Performance
From the end of 2010 to December 11, 2025, the dollar moved from 12.35 to 18.03 pesos. This implies that if you had stashed 100 dollars under your mattress, you’d have gained approximately 46% during this period—around 3.1% annually, barely keeping pace with inflation.
The Risk of Dollar Devaluation
However, the dollar isn’t always a winner against currencies like the peso. For instance, had the dollar declined in 2025 as it seemed to, you would have lost about 13.6% of your money if you’d converted those 100 dollars for an emergency. Meanwhile, Cetes would have given you a real return close to 3% during the same period.
Key Questions and Answers
- What are the advantages of saving in dollars? The dollar is considered one of the most stable currencies and resistant to long-term inflation. It’s also widely used in international transactions, and in Mexico, it’s common to receive remittances from relatives or friends working in the US. Having a dollar account lets you receive these funds directly without converting them to pesos.
- What are the disadvantages of saving in dollars? If you need to access your savings urgently, you might have to convert dollars to pesos, incurring exchange commissions. In economic instability or financial crises, these measures could affect your access to and the real value of your dollar funds. Dollar savings accounts in conventional banks often come with conditions and high fees, while traditional banks may offer unfavorable exchange rates.
- Is there a ‘best’ option for saving? According to Condusef, “there is no better option; it depends on your needs. We encourage you to evaluate your situation and financial objectives before deciding if saving in dollars is right for you.”
