Tuesday, January 24, 2017 11:14 PM
Currencies rates online for Mexican peso (MXN) to US Dollar (USD).
Forex data is updating every 5 minutes.
In order to convert currencies, please go to US Dollar (USD) 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 U.S. dollar (symbol: $; currency code: USD) is the official currency of the United States of America and its overseas territories. One (1) US dollar is equal to one hundred (100) cents.
The U.S. dollar is a Federal Reserve Note and the world’s dominant reserve currency. As such, it is the most converted currency in the world and the currency most used in international transactions. In addition, it features as the standard currency in the commodity market, having a key impact on commodity prices, and is the most popular and heavily traded currency in the forex market.
The dollar was adopted as the official money unit of the United States in 1785. The federal monetary system was established following the Coinage Act of 1792, which also created the first U.S. Mint. Paper currency was first issued by the U.S. government in 1862 in order to finance the Civil War. The first $10 Federal Reserve notes were issued in 1914, but it was not until 1929 that the U.S. currency began to feature the standard portraits on the front and monuments and emblems on the back of all bills.