The peso is the official currency of Mexico and is represented by the symbol "$". Since the peso and dollar currencies have a common origin derived from the Spanish dollar the sign "$" is used to represent both the currency forms. The Mexican peso is the 12th most traded currency in the world, the 3rd most traded in the Americas, and also considered as the most traded currency in Latin America. The current ISO (International Organization for Standardization) 4217 code for the peso is “MXN”.
The first banknotes issued by the Mexican state were produced in 1823 by Emperor Iturbide in denominations of 1, 2 and 10 pesos. However, now the denominations range from $20 to $1000 (rarely used) and the banknotes are printed on longer-lasting polymer plastic rather than paper.
Throughout the most of the 20th century, the Mexican peso remained one of the more stable currencies in Latin America, since the economy did not experience periods of hyperinflation common to other countries in the region. However, after the Oil Crisis of the late 1970s, Mexico defaulted on its external debt in 1982, as a result of which the country suffered a severe case of capital flight and experienced several years of inflation and a deflating currency. Today, thanks to foreign investment, the Mexican economy has stabilized and the currency is widely traded.
The Currency Club Key Facts:
If you are planning to travel to Mexico, The Currency Club aims to make the process of purchasing travel currency convenient, fast and effective. Once you become a member you will have instant access to our tools which will help you obtain the best foreign currency exchange rates for your travel money. The process of placing the order is fully automated and simplified for a reliable and stress free experience.
Placing An Order:
Place your currency order through The Currency Club and get the most competitive Mexican peso exchange rate on your travel money.