The Mexican Peso, abbreviated MXN, is the currency of Mexico. The Mexican peso is made up of 100 centavos and is often presented with the symbol $ or Mex$. The name peso comes from the Mexican word “pesos”, which means “weights”, and refers to gold or silver weights. The 1970s oil crisis caused Mexico to default on its external debt, which led to a period of hyperinflation and currency devaluation in the 1980s. The government of Mexico created a new peso in 1993 to replace the original peso. The new peso was exchanged with the old peso at a rate of 1:1000.
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|ISO 4217 code||MXN|
|Central bank||Bank of Mexico|
|Inflation||2.74% (July 2015)|
|Source||Banco de Mexico, December 2008|
|Symbol||$ or Mex$|
|Freq. used||50¢, $1, $2, $5, $10|
|Rarely used||5¢, 10¢, 20¢, $20|
|Freq. used||$20, $50, $100, $200, $500|
|Printer||Bank of Mexico|
|Mint||Casa de Moneda de México|
The Mexican peso (sign: $; code: MXN) is the currency of Mexico. Modern peso and dollar currencies have a common origin in the 15th–19th century Spanish dollar, most continuing to use its sign, "$". The Mexican peso is the 8th most traded currency in the world, the third most traded currency originating from the Americas (after the United States dollar and Canadian dollar), and the most traded currency originating from Latin America.
The current ISO 4217 code for the peso is MXN; prior to the 1993 revaluation (see below), the code MXP was used. The peso is subdivided into 100 centavos, represented by "¢". As of August 11, 2015, the peso's exchange rate was $18.07 per euro and $16.36 per U.S. dollar.