Mexican Pesos MXP: A Comprehensive Currency Guide

The Mexican peso, also known as MXP, is the official currency of Mexico. It's widely accepted and used throughout the country.

You can exchange your money for Mexican pesos at banks, currency exchange offices, or some hotels. Be aware that exchange rates may vary depending on the location.

Mexico is a popular tourist destination, and many businesses, such as restaurants and shops, accept credit cards. However, it's still a good idea to have some local currency on hand for small purchases or when traveling to rural areas.

The Mexican peso is divided into 100 subunits called centavos.

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Mexico's currency is the Mexican peso, denoted by the $ symbol and the code MXN.

The Banco de México, the country's central bank, issues and regulates the peso.

You can use pesos throughout Mexico for everyday expenses, business transactions, and other financial activities.

Mexican bank notes come in denominations of $20, $50, $100, $200, $500, and $1,000.

Coins in Mexico come in denominations of $1, $2, $5, $10, and $20, and also in smaller units of 5¢, 10¢, 20¢, and 50¢.

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The Mexican peso has a rich history dating back to the colonial era of Spanish rule. The word "peso", meaning "weight", has been used in Latin America for centuries, and the Mexican peso was originally minted from silver mined in the regions of Zacatecas and Guanajuato.

In the Mexican War of Independence, José María Morelos issued the Morelos peso to finance his independence movement, which are now collector's items. These coins are no longer legal tender.

The peso has undergone several devaluations throughout its history, including a significant one in 1976, when the U.S. dollar jumped from 12.50 to 19.40 pesos. Another devaluation occurred in 1982, after Mexico defaulted on its external debt, causing severe capital flight and several years of inflation and devaluation.

Here are some key dates in the history of the Mexican peso:

The 19th century was a time of significant change for the Mexican peso. The Second Mexican Empire of 1863-1867 commenced the minting of coins denominated in pesos and centavos.

In 1867, the restored Mexican republic continued the minting of coins in pesos and centavos, introducing new silver coins of 5, 10, 20, 25 and 50 centavos, and 1 peso.

Copper 1-centavo coins were continued from the previous empire. Silver coins of 5, 10, 20, 25, and 50 centavos, and 1 peso were introduced in 1867.

Gold coins of 1, 2+1⁄2, 5, 10, and 20 pesos commenced in 1870. The obverses featured the Mexican 'eagle' and the legend "Republica Mexicana".

The reverses of the larger coins showed a pair of scales; those of the smaller coins, the denomination. In 1882, cupro-nickel 1, 2, and 5 centavos coins were issued but they were only minted for two years.

The market value of gold coins approximately doubled from 1900, versus their face values.

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In 1905, a monetary reform was carried out in Mexico, reducing the gold content of the peso by 49.36% and making silver coins token issues, except for the 1-peso coin.

The gold content reduction had a significant impact on the peso's value, and to make up for it, new coins were introduced, including bronze 1 and 2 centavos, nickel 5 centavos, silver 10, 20, and 50 centavos, and gold 5 and 10 pesos.

The famous Caballito coin, considered one of the most beautiful of Mexican coins, was issued in 1910. The Caballito featured a woman riding a horse on the reverse side, with her hand lifted high in exhortation holding a torch.

In 1947, a new issue of silver coins was struck, with the 50 centavo and 1 peso in .500 fineness and a new 5-peso coin in .900 fineness. A portrait of José María Morelos appeared on the 1 peso, with Cuauhtémoc appearing on the 5-peso coin.

Between 1960 and 1971, new coinage was introduced, consisting of brass 1 and 5 centavos, cupro-nickel 10, 25, and 50 centavos, 1, 5, and 10 pesos, and silver 25 pesos, which were only issued in 1968 and 1972.

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The Mexican peso has experienced its fair share of devaluations, particularly in 1976 and 1982.

The U.S. dollar skyrocketed from 12.50 to 19.40 pesos in 1976, causing significant economic strain.

After the oil crisis of the late 1970s, Mexico defaulted on its external debt in 1982, leading to severe capital flight and several years of inflation and devaluation.

The dollar again rose from 23 to 150 pesos that year, severely weakening the financial position of companies with loans in USD and contracts in MXP.

This led to high unemployment and increased pressure on remaining employees to take on more workloads, exacerbating economic hardships.

The Mexican Peso has had its fair share of ups and downs over the years. The exchange rate between the MXN and USD has been particularly volatile, with significant changes occurring on a daily basis.

According to the historical chart, the exchange rate for 1,100,000 MXN/USD has fluctuated between $53,302.53 and $54,170.91 over the past week.

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The chart shows that the exchange rate has increased by 0.52% on Friday, 14/02/2025, reaching $54,170.91. This is a notable increase from the previous day's rate of $53,888.10.

Here's a breakdown of the changes in the exchange rate over the past week:

The data shows that the exchange rate has been increasing steadily over the past week, with some minor fluctuations.

The Series AA banknotes are a fascinating part of Mexican currency history. Printed by the American Bank Note Company in 1936, these notes feature a unique design.

The MXP $1 note, for example, has an obverse image of an Aztec sun stone. The reverse features the Angel of Independence. The dimensions of this note are 157 × 67 mm.

Interestingly, the MXP $5 note features a portrait of an Algerian young woman, popularly known as “the gipsy.” The reverse of this note shows the Angel of Independence.

Here are the Series AA banknotes printed by the American Bank Note Company, listed by denomination:

The Series AA banknotes printed by the Bank of Mexico in 1969 are notable for their unique designs as well.

In 1993, the Bank of Mexico introduced a new series of banknotes, designated as Series B. These notes were introduced for 10, 20, 50, and 100 nuevos pesos.

The Series B notes were printed with the date July 31, 1992, and carried over designs from the corresponding notes of the old peso.

The dimensions of the Series B notes are 155 × 66 mm for all denominations.

Here's a breakdown of the Series B notes:

The Series B notes were a significant step in the evolution of the Mexican peso, introducing new designs and features to the currency.

Exchanging US Dollars for Mexican Pesos is a crucial step when traveling to Mexico. Researching and comparing exchange rates is essential to get the best deal.

You can check the most current USD-to-MXN exchange rate using Western Union's currency converter, which is one of the easiest ways to do so. Take note of any additional fees, as banks and exchange services generally charge fees to exchange currency.

Here are some key facts to keep in mind when exchanging US dollars for Mexican pesos:

The proximity of Mexico to the United States can also affect the peso's value, with highly prosperous border regions increasing Mexican peso liquidity.

Exchanging US dollars for Mexican pesos can be a daunting task, but with the right information, you'll be prepared for a smooth transaction.

Research and compare exchange rates to get the best deal. This will determine how many pesos you receive for your dollars.

The exchange rate constantly fluctuates, so it's essential to stay up-to-date. You can rely on reputable financial websites like banks or currency conversion services for the most current rates.

Take note of any additional fees, as banks and exchange services generally charge fees to exchange currency. These might include commission or transaction fees.

The spread, which is the difference between the buy and sell rates, is also crucial to consider. The wider the spread, the more you're effectively paying.

One of the easiest ways to check the most current USD-to-MXN exchange rate is to use Western Union's currency converter.

To ensure a safe and secure transaction, use reputable exchanges. These include licensed banks, exchange bureaus, and reliable online platforms.

Some of the features to look for in a reputable exchange include encryption on all transfers, multi-factor payment authentication, SSL technology for data protection, and biometric security for app transfers.

Here are some examples of reputable exchanges:

Converting Mexican Pesos to US Dollars is a straightforward process. The exchange rate fluctuates daily, so it's essential to check the current rate before making a transaction.

If you're looking to convert a specific amount of Mexican Pesos to US Dollars, you can use the following conversion rates. For example, if you want to convert 1,100,000 MXN, the current exchange rate is $54,170.91 USD.

To give you a better idea of the conversion rates, here's a table showing the equivalent values of different amounts of Mexican Pesos in US Dollars:

Keep in mind that these conversion rates are subject to change and may vary depending on the current exchange rate.

Converting US dollars to Mexican pesos can be a bit confusing, but don't worry, I've got you covered.

To get the best deal, research and compare exchange rates constantly, as they fluctuate. You can rely on reputable financial websites like banks or currency conversion services for the most up-to-date rates.

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One of the easiest ways to check the current USD-to-MXN exchange rate is to use Western Union's currency converter. This will give you a good idea of how much you'll get for your dollars.

Exchanging your cash for Mexican pesos in the US may cost you more than doing it in Mexico. Mexico has more convenient options, like using your bank card to withdraw pesos from ATMs or making purchases directly.

The trade agreements between the US and Mexico can affect the exchange rate. For example, after the election of President Donald Trump in 2016, the peso depreciated by nearly 18% against the dollar from October 2016 to January 2017.

Here's a rough idea of how much you can get for your US dollars in Mexican pesos:

The exchange rate has fluctuated over the years, with significant changes in 1993, 1994, 2009, and 2024. Keep an eye on these fluctuations to get the best deal.

Using Mexican Pesos in Mexico is generally straightforward, and you can use the local currency across the country. Mexico has a well-established banking system, and you'll find ATMs and currency exchange services readily available.

You can exchange your money for Mexican pesos in Mexico, and it's often more convenient than doing so in the US. This can save you money on currency conversion fees and provide better exchange rates. Withdrawing money in the local currency allows your bank to handle the conversion, which can be a good option.

Exchanging your cash for Mexican pesos in the US may cost you, so it's best to wait until you arrive in Mexico to exchange your money. You can use your bank card to withdraw pesos from ATMs or make purchases directly, which can be a more convenient and cost-effective option.

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It's generally wise to withdraw your money in Mexican pesos instead of US dollars when using an ATM in Mexico.

This can save on currency conversion fees, as your bank will handle the conversion and often provide a more favorable exchange rate.

Withdrawing money in the local currency also helps avoid additional fees for withdrawing a foreign currency.

You can withdraw your money in Mexican pesos and then exchange it for US dollars if needed, but this can be more expensive in the long run.

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Using currency in Mexico can be straightforward if you know the basics. You can use the Mexican peso across the country, but consider a few things.

Exchanging money in Mexico can be more convenient than in the US, as you can use your bank card to withdraw pesos from ATMs or make purchases directly. This can save you from losing money on poor exchange rates.

When withdrawing money from ATMs, it's generally wise to opt to be charged in Mexican currency instead of the US dollar. This can save on currency conversion fees and provide a favorable exchange rate.

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Research and compare exchange rates to get the best deal, as they constantly fluctuate. You can use reputable financial websites like banks or currency conversion services to find the most up-to-date rates.

Here's a rough idea of the current exchange rates:

Keep an eye on the exchange rate history to see how the rate has changed over time.

Global economic conditions can have a significant impact on the Mexican peso's value. Currencies like the peso tend to see wild fluctuations, or volatility, in their exchange rates during times of instability.

Developed nations often attract investment flows during global recessions, causing emerging market economies like Mexico to lose value. This happened during the financial crisis of 2007-2008, when the peso weakened by more than 53%.

Investors tend to seek safe-haven assets like U.S. Treasuries during times of uncertainty, causing capital flows to flee Mexico. This was the case during the COVID-19 pandemic, when the peso weakened by more than 33% to 25.13 pesos-per-dollar by March 24, 2020.

During global economic downturns and geo-financial crises, developed nations tend to attract investment flows, while emerging market economies like Mexico see their currencies fluctuate wildly.

Investors often opt for safe-haven assets like U.S. Treasuries during times of uncertainty. This can lead to a significant weakening of emerging market currencies like the Mexican peso.

The peso can lose a substantial amount of value in a short period, as seen during the financial crisis of 2007-2008 when it weakened by over 53% in just eight months.

In 2020, the peso also lost value due to the COVID-19 pandemic, weakening by more than 33% to 25.13 pesos-per-dollar by March 24, 2020.

The U.S. dollar has essentially doubled in value versus the peso since July 2008, highlighting the impact of global economic conditions on emerging market currencies.

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Higher interest rates in Mexico compared to the US create an attractive opportunity for investors through the carry trade. Typically, Mexican bonds pay a higher yield or return than U.S. government-backed U.S. Treasuries. This disparity in interest rates can lead to significant gains for investors who borrow at lower rates in the US and invest in higher-yielding Mexican bonds.

Mexico and the United States share a border and a relationship that extends to broad trade agreements and immigration disputes. Physical proximity has an additional effect on the peso’s value.

Highly prosperous border regions engaging in commercial interactions significantly increase Mexican peso liquidity. The USD/MXN forex pair offers a natural currency play, and it is also the most liquid MXN pair.

The United States exported more than $252 billion in goods to Mexico in 2021 while importing $351 billion worth of goods, adding significant liquidity. This balance of trade (BOT) showed some fluctuation in the last decade, and the shifting ratio had an impact on relative value.

Trade agreements with Mexico can be revised, leading to volatility in the USD/MXN exchange rate and capital flows between the two countries. For example, the election of President Donald Trump in 2016 led to uncertainty regarding the North American Free Trade Agreement (NAFTA), causing the peso to depreciate by nearly 18% against the dollar from October 2016 to January 2017.

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The Mexican peso exchange rate has fluctuated significantly over the years. In 1993, the official exchange rate was MXN$3 against the U.S. dollar. After the Mexican peso crisis of December 1994, the peso sharply depreciated to MXN$7.2 in 1995.

You can check the current exchange rate on reputable financial websites like banks or currency conversion services. For example, Western Union's currency converter provides the most up-to-date rates. The current exchange rate is $54,170.91 for $1,100,000 Mexican pesos.

Here's a summary of the current exchange rate statistics:

To research exchange rates for the Mexican peso, you need to know that they constantly fluctuate, so it's essential to compare the most up-to-date rates to get the best deal.

You can rely on reputable financial websites like banks or currency conversion services, such as Western Union's currency converter, to get the current USD-to-MXN exchange rate.

The official exchange rate has changed significantly over the years, with the peso depreciating sharply in 1994 and then trading between MXN$8 and MXN$11 from 1998 to 2008.

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Here are some key exchange rates to keep in mind:

Additionally, be aware that banks and exchange services generally charge fees to exchange currency, which can include commission or transaction fees, and that the spread (the difference between the buy and sell rates) can also affect the exchange rate.

The Mexican Peso exchange rate is a constantly fluctuating beast, and it's essential to stay on top of the changes. As of now, the rate is at $54,170.91 for $1,100,000.00 mexican pesos.

One year ago, you'd have received $64,507.86 for the same amount, which is a whopping $10,336.95 more than today's rate. This is a significant difference, and it highlights the importance of keeping an eye on exchange rates.

The highest exchange rate in the past 7 days was $54,170.91, while the lowest was $53,302.53. This shows that the rate has been relatively stable, with only a small range of variation.

Here's a summary of the key stats:

The average exchange rate over the past 30 days is $53,498.02, which is a relatively stable figure. However, the volatility over this period has been quite high, at 17.45%.

The Mexican peso's exchange rate has fluctuated over the years. As of today, February 15, 2025, 1,100,000 MXN is equivalent to $54,170.91 USD.

You can see the changes in the exchange rate over the past week in the table below:

The Mexican peso has experienced significant fluctuations over the years. Prior to 1993, the official exchange rate was MXN$3 against the U.S. dollar.

Mexican pesos have a rich history, with coins being issued from the 16th to 19th centuries under the Spanish American system of reales and escudos. The system included gold coins of 1⁄2, 1, 2, 4, and 8 escudos, with 1 escudo approximately equal to 2 pesos or 16 reales.

In the 1970s and 1980s, Mexico introduced A-type and AA-type coins, but these are no longer valid. The nuevo peso was introduced in 1993, with coins of the new currency being introduced in 1993 as the B-type or Series B in various denominations.

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The most commonly encountered coins in circulation today have face values of 50¢, $1, $2, $5, and $10, with commemorative $20 coins less commonly encountered. The 5¢ coin has been withdrawn from circulation, while the 10¢ and 20¢ coins have gradually dropped out of circulation due to their low value.

Here's a brief overview of the denominations of the new peso coins, which were introduced in 1993:

In 1993, President Carlos Salinas de Gortari introduced the nuevo peso, stripping three zeros from the peso and creating a parity of 1 new peso for 1,000 of the old ones.

The new coins were introduced in 1993 in the following denominations: 5 and 10 centavos in stainless steel, 20 and 50 centavos in aluminum bronze (later switched to stainless steel), bimetallic 1, 2, and 5 nuevos pesos, and bimetallic 10, 20, and 50 nuevos pesos with sterling silver centers.

In 1996, the word "nuevo" was removed from the coins, which are now designated as the C-type or Series C. The 50- and 100-peso coins are the only currently circulating coinage in the world to contain silver, with a silver content of 1/2 troy ounce.

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The Banco de México introduced a new series of bimetallic $100 coins in 2003, featuring the traditional coat of arms of Mexico on the obverse and the coat of arms of the individual states on the reverse. These coins are extremely rare in circulation.

Some common coins you'll encounter in Mexico include the 50¢, $1, $2, $5, and $10 coins. The 5¢ coin has been withdrawn from circulation, and the 10¢ and 20¢ coins have gradually dropped out of circulation due to their low value.

Here's a list of the most common coins in circulation:

It's worth noting that some stores may round prices to the nearest 50¢ or 1 peso, and some supermarkets may ask customers to round up the total to the nearest 50¢ or 1 peso to donate the difference to charity.

Commemorative banknotes are a special type of Mexican currency that celebrates significant events and anniversaries in the country's history.

The Bank of Mexico has issued several commemorative banknotes over the years, starting with a set of notes unveiled on September 29, 2009. These notes feature unique designs and colors, and are meant to be a lasting tribute to Mexico's rich heritage.

One of the most notable commemorative banknotes is the 100-peso denomination note, which commemorates the centennial of the Beginning of the Mexican Revolution (1910–1920). The note features a steam locomotive on the obverse and a painting by David Alfaro Siqueiros on the reverse.

The Bank of Mexico also issued a 200-peso denomination note in 2009, which commemorates the bicentennial of the start of the Mexican War for Independence. This note features a portrait of Miguel Hidalgo carrying a banner that became the flag of the Insurgents.

In addition to these notes, the Bank of Mexico has also issued commemorative banknotes in 2017 and 2019. The 2017 note commemorates the 100th anniversary of the enactment of the Constitution of Mexico, while the 2019 note marks the 25th Anniversary of the Bank of Mexico's Autonomy from the Federal Government.

Here are the details of some of the commemorative banknotes issued by the Bank of Mexico:

The Bank of Mexico has made a point to ensure that these commemorative banknotes are not only a celebration of Mexico's history, but also a reflection of the country's values and principles.