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Currency Profile
The Mexican Peso is the official currency of Mexico. It is subdivided into 100 smaller units called centavos. Peso literally means weight in Spanish and has its roots in Latin.
The Mexican Peso is also sometimes referred to as the “Nuevo Peso” or “New Peso.” It was first introduced in 1993, replacing the old Mexican Peso at a rate of 1,000 to 1.
The MXN is issued by the Bank of Mexico and is commonly used in all transactions throughout the country. In some places in Mexico, the USD is used instead of MXN.
The Mexican peso is the most stable currency in Latin America. It is also the most traded in the Americas after the USD and CAD.
The Mexican peso is relatively stable compared to its southern neighbours. This stability is largely due to Mexico’s strong economic fundamentals.
Mexico has a diversified economy, low inflation, and a large and growing middle class. These factors make Mexico an attractive destination for foreign investment and help to support the Mexican peso’s value.
The Mexican Peso is not currently available to be converted online, you'll need to call the team when you want to make a conversion
The origins of the Peso date back to the early Spanish Empire when the 8-real silver coin became known as a Peso. The word literally
In last week’s article we looked at ‘the next eleven’, those countries who are predicted to be the global economic leaders of the future. These