Mexican peso

The Mexican peso is the legal currency of Mexico. The Mexican peso is the first currency in the world to use the $ sign, even before the US dollar, which later adopted it for its own use. The Mexican peso is the fifteenth largest currency in the world. traded in the world, the most traded in Latin America and the third most traded in all of the Americas. The current ISO 4217 code for the peso is MXN; before the revaluation in 1993, the MXP code was used. The peso is divided into 100 cents, represented by the ¢ sign. The name peso has corresponded to two different Mexican monetary units:

• The first is identified with the ISO code MXPwhich was in force until 31 December 1992.
• The second, equivalent to 1000 MXP, entered into force on 1 January 1993, and is assigned the ISO code MXN. This unit was called New Mexican Peso until 31 December 1995 and simply Mexican peso from 1 January 1996 to date. The coins that circulate in Mexico today are made up of semi-circles or rings with alusive motifs to the "Piedra del Sol" or "Calendario Azteca".

History

Viceregal period

Real eight minced in Mexico's calf in 1761.

Copper coin of 8 reals coined during the War of Independence.

Costs of coins to obtain fractions by merchants and reselled by them.

The history of coins with the name of "peso" in present-day Mexico it began shortly after the conquest, when Viceroy Antonio de Mendoza arrived, who brought with him the entrustment of the Spanish Crown, for the creation of the first mint in America. In such a way that in 1535 the mint of Mexico was founded. The coin that was minted was called Real de a ocho or hard peso, it contained 27 and a half grams of silver, with a degree of purity greater than 900 thousandths, leaving behind the coarse quality of the In the early years, it should be noted that the Real de a ocho had been used in Spain before its encounter with the New World, but this event later marked it as the most important currency in the world for nearly 400 years.

Trade was the engine of the global expansion of the Real de a ocho, its diffusion began with the routes that left from Spain to the New Spanish port of Veracruz and from the port of Acapulco to the Philippines and China, through the galleons or naos. In other words, it was used in Spain, in all its territories and overseas ports.

When the emancipation of America began, the independence armies minted their own coins as well. José María Morelos minted copper coins due to the shortage of silver prevailing during the revolts, these coins were promises of payment at the time the independence ended, that is, they would be exchanged for silver coins; this is the first appearance of fiduciary money in Mexico, the coins used by the royalist and the independentist army, circulated indistinctly throughout the country, including in Canada, the United States and Central America.

Post-independence period

After Mexico's independence, the country's authorities maintained the Spanish octal system of monetary units for many years, minting reales and Mexican escudos.

It was only in the 1860s that the decimal system was introduced, with the creation of a new monetary unit, the peso, divided into 100 cents. The decree was issued in 1861 by the government of Benito Juárez, but it was only applied in 1864, with the advent of the Second Mexican Empire, which minted the first coins denominated in pesos and cents.

The weight in the world

Mexican currency of 1859 reprinted in Japan for its legal course in that Asian country.

Currency of two pesos of 1921 commemorative of the centenary of independence.

When the United States achieved its independence, it saw the need to create a national currency and by means of a decree signed on July 6, 1785, the coins manufactured in the Viceroyalty of New Spain became the basis of the United States monetary system, except that its conventional name would be changed to dollar and the parity was set at one silver peso for one US dollar, which did not begin to be minted until April 2, 1792, the year in which the mint of the United States. Even so, in 1793 the United States Congress declared the coins of the Spanish crown a legal means of payment, and they remained in that capacity until February 21, 1857. In Central America, the Mexican peso ceased to be a legal means of payment. payment in 1824; in Canada, until January 1, 1858; in the Philippines, until 1904; and in China, (the original eight reales from 1821-1909) until 1935. It should be noted that long before, in these countries, paper money had already begun to circulate with different denominations that credited the bearer with the equivalent of said promissory note in silver coins. mexican. Over time, these promissory notes (or bills) began to appreciate in value and already during the Porfiriato, although he continued to use silver currency, the parity began to fluctuate between one and two pesos per dollar.

As with its predecessor, the real de a 8, Spanish trade with China made the peso spread to Southeast Asia, so the pieces were resealed so that they would have legal tender in those countries. The need for fractional currency often meant that pieces were physically cut into two, four, or eight pieces, for smaller change, and then resealed for use. This is the origin of the Mexican expression "I don't have a peso split in half."

In 1931, the monetary law established the equivalence and backing of the Mexican currency at 0.75 g of pure gold per peso issued. Some time later, the use of fiduciary money in Mexico increased, for which reason the country's monetary law required banks to back in cash at least one third of the pesos issued in banknotes.

Since 1535, Mexican coins have been manufactured by the Casa de Moneda de México, and since March 15, 1861, they have been divided according to the metric system. On August 1, 1864, the Bank of London and Mexico began operations. In 1925 the Bank of Mexico was created, which authorized the manufacture of paper money to the American Bill Company. It is not until 1969 when paper money began to be issued by the Banco de México banknote factory. Throughout history, the Casa de Moneda de México -as well as, at the time, Banco de México- has enjoyed international prestige for the quality of its coins and bills, as well as for being at the forefront of elements of safety and raw materials.

Devaluation of the Mexican peso

Due to the economic instability of the country in the 1980s, inflation caused the price of merchandise to grow enormously, which made it necessary to issue ever higher denomination bills, which later turned out to be implausible and poorly reflected faithful to the true silver and gold reserves of the country.^{[citation needed]}

The new weight

For this reason, by means of a decree published on June 22, 1992 in the Official Gazette of the Federation, as of January 1, 1993, a new monetary unit for the United Mexican States called "nuevo peso", which subtracted 3 zeros from the previous one, in such a way that 1,000 pesos of 1980 are equivalent to 1 new peso (N$) since January 1993. The objectives of this measure were:

• Facilitate understanding of large amounts of money.
• Facilitate transactions.
• Achieve more efficient use of computing systems and accounting records.

This change is scheduled to take place over three years, according to the following schedule:

• Introduction of the new weight: 1 January 1993.
• Coexistence of both currencies with gradual defaction of the weight to its disappearance, from 1 January 1993 to 31 December 1995.
• Demonetization of the old pesosand deletion of the word new to return to the denomination weightin the new currency unit.
• By 1 January 1996, it was hoped that there would be no more Old man weight in circulation.
• Thus, the weights and new weights were indistinctly used from 1993 to 1996.

Coins that were in circulation

In the last series of pesos prior to 1992, coins with facials ranging from one cent to 5,000 pesos were issued. At different times, both the alloys and the sizes and values changed their technical characteristics, mainly due to the inflation of the 1970s and 1980s. These coins can still be exchanged for their equivalent in current pesos in 414 exchange centers within the country, under certain rules.

Currently in circulation coins

Current Production Coins

Other non-commemorative coins currently in circulation

Commemorative Coins

Meaning of the Mexican National Currency

• 5¢ and 10¢ symbolizes life force (blood) and human actions for the benefit of the community.
• 20¢ is the symbol ACATL repeated 7 times surrounded by 13 points is the year 1479 when this culture was finished.
• 50¢ are distinguished 3 chalchihuites elements of jade, pearls and white feathers, symbolize the precious.
• $1.00 represents the characteristics of the gods as they are oriented towards the cardinal points.
• $2.00 corresponds to the wheel of the 20 days of the month (Metztli) the names and symbols are formed of animals, vegetables, concepts, things and atmospheric phenomena.
• $5.00 is the representation of eternity, wisdom in its wider sense, the conception of the universe.
• $10.00 symbolizes the four cosmogenic epochs that precede ours and also represents the fifth sun (Nahuitlollin), its is our current time.
• $20.00 symbolizes the forces that act in cosmic space and that originate the different phenomena of nature.

5-peso commemorative coins

In 2008, the Mint began minting 18 commemorative coins for the centennial of the Mexican Revolution and 19 commemorative coins for the bicentennial of Mexican Independence. On the obverse, as in all legal tender coins in Mexico, the national coat of arms is shown. These commemorative coins ceased to be minted on December 31, 2010.

History of the Mexican bill

Bills of 2 and 10 Mexican pesos from the Bank of London, Mexico and South America of 1887.

Paper money did not appear in Mexico until the 19th century, after the Independence of Mexico, when it was widely accepted by the general population. There was no central bank, notes and coins were issued by commercial banks, until 1925, when the Bank of Mexico was created.

The Bank of Mexico dates back to 1822, during the Empire of Agustín de Iturbide, where a project was presented to create an Institution in charge of issuing banknotes that would be called the "Great Bank of the Mexican Empire" which was rejected, until its true foundation 100 years later.

Banknotes issued by commercial banks

There were five series of banknotes issued by the Bank of London, Mexico and South America between 1864 and 1924. Initially, the banknotes were only printed on one side, they were single-phase. The denominations were $5, $10, $20, $50, $100, $500 and $1,000 pesos (MXP), and they were being printed in small quantities and for lower value denominations. The first banknotes did not have a specific theme.

The First Series

The first series was only issued in the denomination of MXP $5 pesos and was printed between 1865 and 1867 by the William Morrison and Sons company. The tickets were voluntary acceptance.

The Second Series

The second series was printed between 1871 and 1882 by Bradbury Wilkinson and Company, and were also single-phase. For the first time, a Mexican element is introduced in paper money when the effigy of Moctezuma is shown on the left side. Only the MXP $5 and $10 pesos denominations were printed.

The Third Series

The third series took place between 1883 and 1889, produced by the American Bank Note Company of New York, issuing copies of MXP $2, $20, $50, $100, $500 and $1,000 pesos, which are the ones that they know each other.

The Fourth Series

The fourth series was issued in 1887 by the Bradbury Wilkinson and Company of London, in denominations of MXP $5, $10, $20, $50, $100 and $500 pesos with the effigy of President Benito Juárez.

The Fifth Series

The fifth series was issued between 1889 and 1914 by the American Bank Note Company of New York, in denominations of MXP $5, $10, $20, $50, $100 and $500 pesos with the effigy of the President Benito Juarez; the MXP $1 and $2 pesos pieces were issued by Bouligny and Schmidt in Mexico City.

Mexican banknotes type AA

There were two series of AA banknotes. The first series was manufactured by the American Bank Note Company in denominations of $1, $5, $10, $20, $50, $100, $500, $1,000, and $10,000 pesos (MXP). Subsequently, Banco de México began to manufacture its own banknotes, with designs different from the previous ones and only in denominations of $5, $10, $20, $50, $100, $500 and $1,000 pesos (MXP). All banknotes of this type were demonetized as of January 1, 1996.

Mexican banknotes type A

Bills issued by Banco de México in high denominations of $2,000, $5,000, $10,000, $20,000, $50,000 and $100,000 pesos (MXP), due to inflation in the 1970s and 1980s. All bills of this type were demonetized as of January 1, 1996.

Mexican banknotes type B

The first banknotes issued in the new monetary unit, in denominations of N$10, N$20, N$50 and N$100 (new pesos – MXN). These notes retained the design elements of their Type A equivalents; $10,000, $20,000, $50,000, and $100,000. They began to circulate from January 1, 1993, they were transition tickets.

Mexican banknotes type C

This type of bill was issued in denominations of N$10, N$20, N$50, N$100, N$200 and N$500 (new pesos – MXN). The banknotes feature new designs, with similar elements for all denominations, and were printed in two sizes: the N$10, N$20, and N$50 denominations have dimensions of 129 x 66 mm; the denominations of N$100, N$200 and N$500 have dimensions of 155 x 66 mm starting to circulate as of October 3, 1994.

In this edition, the old legend "The Bank of Mexico will pay on demand to the bearer..." and the "Nuevos Pesos" referents of the denominations.

Mexican banknotes type D

These banknotes were printed in the same denominations and with the same designs and dimensions as the type C banknotes, but eliminating the new nomenclature, in addition to the removal of the old phrase & in the header #34;He will pay on demand to the bearer" leaving only the legend of "Banco de México". In this issue, the $10 pesos (MXN) bill was printed for the last time in 1997, since its production was very large and unnecessary, since coins of the same denomination already existed.

They began to circulate on January 1, 1996. Within this issue are banknotes commemorating the 75th anniversary of Banco de México.

Mexican banknotes type D1

Banco de México decided to experiment with the issuance of banknotes printed in polymer in order to extend the useful life of banknotes with the highest circulation and make it more difficult to counterfeit them. The first banknote to be printed in this material was the $20 pesos (MXN), using the same design as the corresponding type D banknote, with small adjustments to accommodate the security characteristics of the new technique.

The rest of the denominations continued to be printed on paper, but incorporating up to three new security features:

• An iridescent band with the printed name that crosses the ticket vertically.
• A numeral printed in optically variable ink that changes color according to the display angle.
• Embedded markings for identification by blind people.

The denomination of $50 pesos only includes the iridescent band. The denominations of $100, $200, $500 pesos, include the three characteristics. In this series, the $1,000 bill was issued for the first time in 2004, including the new security features.

Iconographic design

Elements that make up the tickets.

The Mexican banknotes of the D1 series have the following iconographic design:

1. Bank issuer.
2. Numeral (cipher).
3. Numeral (denomination in letter).
4. Monetary unit.
5. Procer or efigie.
6. Motive or engraved.
7. Ticket brochure.

• Security elements vary between each ticket.

Mexican banknotes type F

New family of tickets

In 2006 the design of the banknotes was changed, due to the following reasons:

• To enable the blind to identify the value of the ticket.
• To make it difficult to counterfeit the tickets.

Banco de México added new security elements:

• Element changing color
• Snails of their respective color (from the denomination of $100)
• Transparent window (only $20 and $50)

The $50 bill was first introduced (November 2006), followed by the $20 bill (August 2007), the $200 bill (September 2008), the $1,000 bill (April 2008), the $100 bill (August 2010) and the $500 bills (August 31, 2010).

To make it easier for the blind to recognize the banknotes, the banknotes have different sizes, which differ by 7 mm between denominations. The $20 and $50 bills are made of polymer, while the $100, $200, $500, and $1,000 bills are made of cotton paper.

The new 50-peso bill

Banco de México launched the new edition of the 50-peso bill on May 6, 2013. On the obverse it shows the portrait of Morelos, which appears as the main motif, in an engraving similar to that of the previous banknote (Type F). To the left of the portrait there is a vignette formed by the banner of Morelos, two crossed cannons and the bow, arrow and the word SUD; elements, the latter, used in the coins minted by the insurgent chief. These canyons are blue in color. On this set appears, in decreasing microprint, the following fragment taken from the Sentiments of the Nation: “THAT SLAVERY BE PROHIBITED FOREVER AND THE SAME THE DISTINCTION OF CASTES, REMAINING ALL THE SAME, AND ONLY VICE WILL DISTINGUISH ONE AMERICAN FROM ANOTHER AND THE VIRTUE.” It should be noted that the portrait of Morelos, the legends, the numerals of the denomination and the vignette are printed in relief. On this side of the bill you can see monarch butterflies, characteristic of the state of Michoacán, printed and on the transparent window. Another characteristic of this banknote is the increasing size of the numerals on the folio. On the back, the main iconographic element is the aqueduct of Morelia, Michoacán, built in the XVIII century by order of Bishop Manuel Escalante Columbres. In the lower left part of the aqueduct we can see the stylized glyph of Michoacán (Mechuaca, land of fish, taken from the Codex Telleriano Remensis). Monarch butterflies can also be seen on the reverse, some printed and others in the transparent window, in addition to the fact that the banknote fluoresces under ultraviolet light.

Mexican banknotes type G

New family of tickets

Starting in 2018, the production and circulation of the new family of banknotes called "Historical identity and natural heritage" began, being a complete change in their design, since since 1994 with the Family C of banknotes maintained the predominant color and the effigy in all the banknotes, only carrying out new designs. The main reasons for this change are:

• Facilitate blinds and visually impaired people to identify the value of the ticket.
• Incorporation of new security measures to hinder counterfeiting of tickets.
• Exalt the historical processes of the country, as well as the natural and cultural heritage.

Banco de México added new security elements:

• Dynamic thread.
• Multi-coloured nomination.

The $500 bill was first introduced (August 27, 2018), to continue with the $200 bill (September 2, 2019), the $100 bill (November 12, 2020), the $1000 bill (November 19, 2020), $20 Commemorative (September 24, 2021) and $50 (October 28, 2021). It is worth mentioning that this new family contemplates no longer producing $20 denomination notes, as well as a possible introduction of a $2000 denomination note.

Centennial and bicentennial banknotes

On September 23, 2010, Banco de México put into circulation 50 million 200-peso bills commemorating the Bicentennial of Mexico's Independence, and 50 million 100-peso bills to celebrate the Centennial of the Mexican Revolution. It should be noted that these commemorative notes did not replace those in circulation at the time; rather, they coexisted with the latter, and the central bank withdrew them when they finished their useful life.

100 peso bills

They are printed on polymer and their dimensions are: 134 mm long by 66 mm high. Their main motif is the image of a locomotive that transports revolutionary troops, which represents the armed movement that began in 1910. The locomotive is accompanied by one of the most emblematic images, the soldadera or Adelita. On the back of the banknote, the main element is a fragment of the mural titled "From Porfirismo to the Revolution", also known as "The Revolution against the Porfirian dictatorship", by the painter and muralist David Alfaro Siqueiros, which shows the people in weapons surrounding the leaders of the triumphant revolution.

On Friday, October 30, 2009, the Bank of Mexico reported that the printing of the phrase “Effective suffrage, no re-election” on the back of the 100-peso commemorative bill has an error, as it says “Suffrage e lective and no re-election.” It was explained that the error had its origin in the computer file, during the design of the images with which banknote printing sheets are formed. The phrase "cash" is well written on the front of the bill in blue and red letters, with a height of less than 5 millimeters, in a single line, in a visible position on the bill. On the other hand, on the back, where the error is found, the letters are yellow, with a height of 6 millimeters, the word is repeated several times, because the phrase is partially reproduced in six lines with a pronounced curvature.

Despite the detail, the monetary authority announced that the monetary, historical and symbolic value of the 100-peso commemorative bills will not be affected by said situation.

Bills of 200 pesos

The images are printed in a vertical format, their dimensions are: 141 mm long by 66 mm high. The banknote's main motif is the image of Miguel Hidalgo y Costilla with a banner, which became the flag of the insurgent army. The image comes from the work of Jesús Enrique Emilio De La Helguera Espinoza entitled "Don Miguel Hidalgo", which represents the beginning of the War of Independence. On the reverse, the elements that stand out are: the Angel of Independence, which is located on Paseo de la Reforma in Mexico City, and the stylization of the resplendent Phrygian cap as a symbol of freedom, used for many years on coins. metals of independent Mexico.

The main security elements of the 200-peso bill include: a special windowed security thread that changes color when the bill is tilted at different angles, a watermark in which, when viewed against the light, the Angel can be seen of Independence and an impression of the Bell of Independence.

As in the 100-peso bill, with a black light lamp you can see yellow figures on the back of the 200-peso bill.

Mexican banknotes in circulation

As of January 1, 2010, all banknotes of types B, C, D, D1 and F have redeeming power; however, type B and C banknotes practically no longer appear in circulation. Type D and D1 banknotes for denominations where an equivalent type F banknote already exists are being withdrawn from circulation as they deteriorate. Type D1 and F banknotes (issued and not yet issued) will coexist and have legal tender until they are completely replaced by type F.

All AA and A banknotes, the value of which is indicated in the MXP monetary unit, were demonetized on January 1, 1996. These pieces can only be exchanged for MXN banknotes at exchange centers established by the Bank of Mexico. Their current value equals the denomination printed on them, divided by a thousand.

All the banknotes of the F series are currently produced, except the 50-peso banknote, which is type F1. Below is a table of the banknotes currently in print:

There are currently four $100 bills, three $200 bills, and two $500 bills in circulation.

Validity of damaged banknotes

The banknotes are used in an infinity of commercial transactions carried out throughout the country. They pass from hand to hand many times, are exposed to different climates and frequently, to the lack of care when using them. All these factors cause banknotes to deteriorate, sometimes naturally and other times intentionally.

But why is it important that the banknotes are in good condition? When a banknote is in good condition, it is easier to identify its security elements, which allow us to distinguish between authentic and counterfeit banknotes.

When the damaged banknotes enter the banks, they are separated in order to send them to Banco de México for destruction. The banknotes that are destroyed are replaced with new banknotes and this represents a greater expense for the country.

To help keep notes in good condition and prolong their life, it is recommended that they be unwrinkled, stapled, scratched, and marked. They must be kept away from fire and humidity, and preferably, they must be kept flat without folding, although if this is necessary, care must be taken not to stress the fold. If you have a torn bill or one with a detached part, it is recommended to use transparent adhesive tape; Or, go to any bank or an Exchange Center to have it evaluated and, if appropriate, receive another bill in good condition in exchange.

It is important that we know under what conditions a bill loses its value. A banknote can be damaged in different ways; in some cases, the deterioration affects only the appearance of the note and therefore it is possible to continue using it to make payments; in others, it causes the loss of its value. Therefore, a Mexican bill retains its value if:

• It is broken (from two halves) and all parts are available.
• It's broken, but it was joined again with adhesive tape.
• When they are scratched with messages without propaganda value (such as notes, phone numbers, bank seals, among others).
• They have slightly stained areas.
• They are dirty, wrinkled or naturally discolored.
• If there is no ticket, but the ticket does not exceed 23 mm (base diameter for measurement). Otherwise, it must have more than 50% of the surface.

They are not valid, and even declared adulterated, if:

• They are united fragments of different bills.
• They have commercial, religious or political messages.
• They have stains to hide messages of a commercial, religious or political nature.
• If you're missing a ticket and attached to another ticket.

Popular names of the Mexican peso

Fifth Mexican.

Mexican peseta.

Mexican toston.

Alusive corner to the 20-cent coin.

In many towns and in many sectors of the population of Mexico City, the peso is called varo; however, this can also take the general meaning of money: “to have or not to have varo” would be equivalent to “to have or not to have money”. Bills are called billullo and money in general is called lana, as well as bileye or ribete. A large amount of coins held by one person is also called fair, change, trash, simple and in previous years returned.

This great diversity of expressions to name money circulates in the different regions of the country, each of them predominating in one area or another; however, in general, money is called wool or marmaja.

When the so-called old pesos were in circulation, the million pesos were called melon, but with the reduction of three zeros, the old million became a thousand pesos, earning the nickname miracle, kilo, a milpa or a milanesa (although the current million is still called melón).

In a colloquial conversation, when the interlocutor is supposed to know the approximate amount to which reference is made, sometimes the thousand or one hundred is omitted, thus leaving three hundred pesos as three pesos, three balls, three sticks; five thousand pesos as five varos or five balls in some places, in most, only the first number is said: for example instead of saying "one hundred pesos& #3. 4; it only says "one" and in case the receiver is not clear, the amount is specified as it is, also to refer to amounts of millions the expression "is (are) --- one of the big ones"; For example, if an article cost a million pesos, one would say "It is one of the greats"; ten pesos as "a tooth" or "a diego"; twenty pesos like a benny or a fan; one hundred pesos like a blind man; two hundred pesos like a Sor Juana; thousand pesos like a "miguelón" or one of a miracle, among other ingenious ways to name money.

The old 50 peso bill that was light blue was called "ojo de gringa".

In the particular case of the hundred-peso bill, it is erroneously called a Cuauhtémoc (a Cuauh or temo) because many believe that the effigy of said bill is precisely Cuauhtémoc, when in reality it is Nezahualcóyotl, perhaps because both characters were Tlatoanis, the first from Mexico-Tenochtitlan, the last of these and the second from Tetzcuco (Texcoco), the main creator of the Triple Alliance, or good because both are very important in the history of Mexico and because both correspond to more or less the same historical period.

The expression eagle or sun when tossing a coin arises from the popular use of the old twenty-cent coin, which had the pyramid of the Sun in Teotihuacán on the reverse and on the obverse the National emblem. That expression makes sense again, since the 10-peso coin has Tonatiuh (God of the Sun) and the national shield.

Another expression used is "the twenty fell on me" or "the twenty already fell on you" which is used when a person finally manages to understand something ("his brain works") and refers to the time when slot machines (such as telephones) worked with 20-cent coins and only activated when the coin falls into them. There is a similar expression in English: "the penny dropped".

Fifty cent coins are called tostones, in some regions of the country they are also called fifty peso bills. The origin of this denomination arises during the colony, since the Real de a ocho was called a peso and a Real de a four (half a peso), tostón.

Now there is no coin or bill of 25 pesos or cents, but to refer to this amount the word peseta would be used, due to its old price.

Although they are not very frequent anymore, which is not the same as withdrawals, nickels are known as quintos.

Circulation within the country

Current currency is made up of a daily monetary base that includes banknotes and coins in circulation, including those held by the public plus the bank's cash; and bank deposits in current accounts both in commercial banks and in development banks.

The amounts corresponding to each business day can be seen on the Banco de México website, from 1989 to the present. To find out the figures corresponding to data prior to 1989, a request must be made to Banxico itself through the National Institute of Transparency, Access to Information and Protection of Personal Data.

Circulation on digital platforms

Circulation in international digital banking

The Swiss electronic bank Dukascopy Bank offers multi-currency accounts among which it considers the Mexican peso, it is even possible to open sub-accounts in Mexican peso in addition to the main account.

Circulation in payment processors

In the electronic payment processor PayPal, you can open a personal or business account in Mexican pesos to send, receive or withdraw funds, even for automatic currency exchange when receiving a payment in foreign currency.

Percentage share of currency exchange

The monetary distribution of the business volume in Mexican pesos in the world exchange market according to the average daily percentage participation according to the Triennial Central Bank Survey, tells us the exchange power of the peso Mexican before the rest of currencies:

The most traded currency crosses with the Mexican peso

According to the data provided by the Bank for International Settlements corresponding to the years 2013, 2016 and 2019 for which data is available, we can know the behavior and importance of the main pairs of currencies/Mexican peso, as well as movements in the domestic and international markets, as can be seen in the following graph:

In 2013, the USD/MXN pair represented 94.82% of all currency traded volume with respect to the Mexican peso, while the exchange with other currencies was only 5.18%. For 2016, the USD/MXN cross was 92.78% while the other currencies monopolized a volume of only 7.22%. For 2019, there is a record that 83% of transactions in Mexican pesos are carried out abroad.

Among the other currencies, although their volume is minimal, the pairs CAN/MXN and EUR/MXN stand out. To a lesser extent, the CHF/MXN, AUD/MXN, NZD/MXN, BRL/MXN and CNY/MXN pairs are exchanged. On the southern border, along with the USD/MXN, the GTQ/MXN cross is also quoted and, to a much lesser extent, the BZD/MXN.

Exchange rates with the main currencies