Business + Services

Escondido will take your Pesos

In case you missed it in the NYMag neighborhood news section…

Escondido at 145 Front Street has announced that they are accepting Mexican pesos at their high-end boutique. Owner Maurice Shrem feels that by accepting pesos, he gets a chance to prove his confidence in the Mexican economy, where many talented artisans help make his shop so successful. It makes it easier for his customers who carry leftover pesos in their wallet and makes more sense for Shrem, whose DUMBO store is stocked only with products from Mexico.

According to Shrem, this is not the first time Mexican pesos have been used in this country. Pesos were accepted in the US between the 18th and 19th century. Having them in his store is a nod to history and speaks to the strong relationship Escondido has to Mexico.

100 pesos are worth $8, and Maurice Shrem and right-hand man Louis Salazar have started listing two prices, in dollars and pesos, and a few people have already started paying in pesos. You know, Escondido might be onto something– the Mexican peso was up 0.3 percent today.