This is the latest exchange rate for the Peso today which is the official currency of Mexico. The currency is the Mexican Peso with symbol code: MXN.
The MXN exchange rate is affected by economic conditions within Mexico. Things such as interest rate changes, GDP and unemployment can affect the Peso currency. Economic policies in Mexico are set by the Bank of Mexico at regular meetings throughout the year.
|1 Peso =||0.05 USD|
|1 Peso =||0.04 EUR|
|1 Peso =||0.04 GBP|
This table displays other common conversions of the Peso in US Dollars.
|100 Mexican Peso||5.34|
|500 Mexican Peso||26.68|
|1000 Mexican Peso||53.35|
About The Peso
If you are planning to travel abroad anytime soon, one of the top priorities on your to do list before heading out is to make sure you have the correct currency of the country you are headed to, such as Mexico. But, how much do you really know about the peso exchange rate and its history within the Mexican culture? Well, we have just the answers that you are looking for.
The Mexican peso is considered the 3rd most traded currency in our world today, where $1.00 in pesos is equal to 58 cents in the United States dollar. Governed by the Bank of Mexico, the peso has had quite a long historical journey to where it has come in currency standards in iur modern day. The currency first began in 1863 where it was considered Spanish dollars; However, at that point in time, it was only coins being traded that were called centavos. It wasn’t until 1866 when the name switches to peso. After the country’s fall into debt, it was decided to recreate the currency, thus on January 1st of 1993, the “Nuevo Peso” was established. Finally, in January of 1996, the “Nuevo” was dropped on the coins and notes in circulation, leaving the peso which is what is still used today.
The coins and bank notes in circulation in the country are somewhat different from that of the United States. Coins frequently used include 50 cent, $1, $2, $5, and $10, while rarely using 5 cent, 10 cent, 20 cent, and $20. The bank notes are also different from what we typically see; peso bank notes used most commonly are $20, $50, $100, $200, and $500.
If you are ready to visit the country of Mexico, make sure that you have all the knowledge you could possibly need on their currency and what each peso means. It will help you throughout your journey!
Historical Peso Exchange Rate Chart