About the Mexican Peso
The current Mexican Peso (MXN) was introduced in 1993 as part of a redenomination, replacing the old Mexican Peso (MXP) at a rate of 1,000 to 1, to combat inflation and streamline transactions.
The name 'Peso' means 'weight' in Spanish, referring to the traditional Spanish silver dollar, 'piece of eight'.
Interesting Facts
A Strong Emerging Market Currency
The Mexican Peso is one of the most traded emerging market currencies in the world, reflecting Mexico's large and dynamic economy.
Colonial Legacy
The '$' symbol, commonly associated with the U.S. Dollar, actually originated with the Spanish 'piece of eight' or peso, which was widely used throughout the Americas.
Rich Cultural Banknotes
Mexican banknotes are renowned for their vibrant designs, featuring iconic figures from Mexican history, art, and natural landmarks.
Historical Timeline
Mexico gains independence from Spain.
The Bank of Mexico is established.
The 'Nuevo Peso' (New Peso) is introduced, later dropping the 'Nuevo' and becoming the current Mexican Peso (MXN).
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- MXN
- Symbol
- Mex$
- Numeric Code
- 484
- Subunit
- Centavo (1/100)
- Introduced
- 1993-01-01
Central Bank
- Name
- Bank of Mexico
- Headquarters
- Mexico City, Mexico
- Founded
- 1925
- Current Governor
- Victoria Rodríguez Ceja (since 2022)
Economic Data
- Reserve Currency Share
- 0.1%
- Forex Volume Share
- 2.5%
- Inflation Rate
- 4.78%
- Interest Rate
- 11.00%
Exchange Rates
What Affects the MXN Exchange Rate?
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