WASHINGTON (FMLiveWire) -- When Taco Bell announced plans to accept Mexican pesos in its 19 Washington, DC-area restaurants, the fast food chain was besieged by a mixture of praise as well as anti-illegal immigrant hate mail.
But in the end the company used the Mexican currency to improve sales and the operation was wildly accepted.
"Accepting pesos has been a phenomenal success," said Chuck Chihuahua, manager of operations at Taco Bell. "We now accept Mexican pesos at all of our restaurants across the USA and even in Canada."
Once it started selling tacos and burritos for pesos, the company's same-store-sales rose by almost a third from the previous year.
As a result, Taco Bell has opened 60 new stores, with plans for 150 more throughout Nevada, Arizona, Colorado, South Carolina, Mississippi, Missouri, Georgia, Virginia, California and Florida by the end of the year, and 400 more in 2008.
As the US dollar falls in value against other currencies, pesos and certain other currencies are increasingly being accepted as payment everywhere throughout the USA he noted. The dollar fell in August to a 15-year low against a variety of major currencies.
"This is just a sign of changing times…the dollar is not what it once was," said Chihuahua. "It may also reflect North American integration."
Taco Bell Corporation is a subsidiary of Yum! Brands Inc. and is a Mexican-style fast food restaurant chain based in Irvine, California.
--Copyright Felix Minderbinder Live Wire
