Understanding the variations of currencies can be a little difficult. In today’s post, we will cover every relevant detail associated with one of the most traded currencies in the world due to its stability: Mexican pesos. From its history to Mexican bills in circulation, you will learn all the useful facts about this currency.
The history of Mexican money
What are Mexican pesos? The word “pesos” refers to an old monetary system related to the weight of gold and silver, and pesos have been in circulation as the official coin of Mexico since 1821. During the 20th century, Mexico enjoyed a huge positive impact on their economy, which made the Mexican peso an example of stability among other Latin American countries.
Unfortunately, that era of prosperity reached its end during the oil crisis, and lead Mexican money to inflation and devaluation. To remedy this situation, the government introduced the New Peso. One unit of this new coin had the value of 1,000 outdated pesos. In 1996, the government dropped the word “new” as part of the official name of Mexican pesos, but every other aspect of the New Peso was respected.
What the Mexican peso is worth today differs greatly from its value in previous decades since it has shown a tendency to appreciation. If you want to convert Mexican pesos to American dollars or any other currency, visit our currency converter, find the best rate, and purchase.
Mexican Pesos Denominations
Mexican pesos symbol is Mex$ or $, while its code is MXN. Banco de Mexico is the institution in charge of the regulation of this free-floating currency. Now, let’s see the current coins and the banknotes in circulation:
Coins have a value proportional to their size. Small coins are worth 5, 10, 20 and 50 Mexican cents. The biggest ones are worth 1, 2, 5, 10, 20 and 50 Mexican pesos. These two last ones are not commonly used for transactions, they are valuable for collectors. If you are interested in this type of coins, visit our Mexican pesos catalog.
5 Mexican centavos
10 Mexican centavos
20 Mexican centavos
50 Mexican centavos
Mexican peso coin
2 Mexican pesos coin
5 Mexican pesos coin
10 Mexican pesos coin
Mexican bills worth 20 and 50 pesos are printed on polymer plastic that is waterproof, while the ones worth 100, 200, 500, and 1,000 are printed on paper.
20 Mexican pesos
Depics president Benito Juárez.
50 Mexican pesos
Depics priest and field marshal, Jose Maria Morelos.
100 Mexican pesos
Depicts the king of Texcoco, Nezahualcoyotl,
500 Mexican pesos
A commemorative bill that depicts the muralist Diego Rivera.
1000 Mexican pesos
Depicts the father of Mexican Independence, Miguel Hidalgo y Costilla.
Wondering what’s the Mexican peso exchange rate today? You can check the current Mexican banknotes on our website. Buy the currency you need or sell us your currency, we make it convenient, easy, and safe for you to exchange your money at any time and place.