Currency Information on Mexican Peso - MXN— Mexican peso - $
Originating from the Spanish dollar, like most peso and dollar currencies, the Mexican peso is subdivided into 100 centavos and the current incarnation is a result of revaluation in 1993.
The second peso was introduced in 1993, with the name ‘nuevo peso’, however the word ‘nuevo’ was dropped from th banknotes and coins issued in 1996. The Mexican peso is now the one of the top 15 most traded units of currency.
Coins are available in denominations of 5, 10, 20 and 50 cents, although, only 50 cent coins are used regularly. 1, 2, 5, 10 and 20 peso coins are also available, with all but the 20 peso coins being in regular circulation.
Banknotes are available in denominations of 20, 50, 100, 200, 500 and 1,000 pesos, though the 1,000 peso note is rarely seen or used.
We are an international business and work with companies around the world, especially California in the US and Australia. Our providers are based in different countries so we need to be constantly up to date about the current foreign exchange rates. Otherwise, we would be wasting money during the currency transfer process and obviously this is not what a business wants.
Comment written by Victoria Brown Wine Industry.
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