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 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.