Belize Dollar Weakening Against Mexican Peso? We also asked the governor about the exchange rate on pesos to Belize dollars. In the informal sector - meaning the Pesero’s who ply the border - the value of the Belize dollar against the peso has been falling. Right now, reports say 1 Belize dollar will buy you less than eight pesos - the lowest rate in about a decade. Now, we stress this is the informal sector - and those persons are not licensed money changers. But, their local rate is a reflecti