Thursday, February 23, 2017 11:35 AM
Currencies rates online for Mexican peso (MXN) to Canadian Dollar (CAD).
Forex data is updating every 5 minutes.
In order to convert currencies, please go to Canadian Dollar (CAD) to Mexican peso (MXN).
The currency converter uses the latest Forex exchange rates.
The Mexican peso (symbol: $; currency code: MXN) is the official currency of Mexico. One (1) is equal to one hundred (100) centavos.
The peso is issued by the Bank of Mexico. It is one of the most heavily traded currencies worldwide, and the most traded currency originating from Latin America.
The currency derives its name from the term used to refer to the eight-real coins, or, Spanish dollars, which were issued in Mexico by Spain until the 19th century. The Oil Crisis of the 1970s had a profound effect on the otherwise stable peso, causing it to be replaced by a new currency, the nuevo peso, on January 1, 1993. The modifier “nuevo” was abandoned three years later.
The Canadian dollar (symbol: $; currency code: CAD) is the official currency of Canada. To distinguish between it and other dollar-denominated currencies, the Canadian dollar is sometimes abbreviated as C$. One (1) Canadian dollar is equal to one hundred (100) cents.
The Canadian dollar is widely referred to by Canadians as the “loonie”, a term which forex traders and analysts also employ. This is due to the image of a loon on the one-dollar coin. The Canadian dollar is the fifth largest reserve currency in the world, behind the U.S. dollar, the euro, the Japanese yen and the pound sterling, and the seventh most traded currency in the forex market.
The Canadian dollar was preceded by the Canadian pound, which was introduced in 1841. A widespread need to adopt a decimal monetary system based on the U.S. dollar due to the proximity of the two countries and the increasing trading activities between the two lasted for years, before the Canadian dollar was eventually introduced in 1858. The Canadian Parliament passed the Uniform Currency Act in April 1871 to replace the currencies of all provinces with a common Canadian dollar.