Mexican Peso

Name of currency: Peso

Country / countries used: Mexico

Symbol: $

Brief history:

The Mexican Peso is used solely in the country of Mexico. Few border towns in the United States and Guatemala used to accept the Peso, but that has not been a trend for several years. Currently, the Peso is the twelfth most traded currency in the world, followed by being third in the Americas. It is the most traded currency in Latin America.

The first Peso was given to Mexico by Spain, and the currency was referred to as Spanish dollars. The currency prevailed, even after Mexico gained its independence, until January 1, 1977. The second form of currency that Mexico used began on January 1, 1993 with the use of the nuevo peso. On January 1, 1996, “nuevo” was removed from the beginning of the title. The code has always been and will remain “MXN.”

The current bills come in several colors and show scenes from Mexico City, Puebla Cathedral, and various Mexican leaders. On April 5, 2004, the peso was made accessible to the blind population when the Chamber of Deputies called for it. Each bill has separate patterns that make them easy to ready in braille, for the 750,000 visually impaired citizens that reside in Mexico.

In the midst of economic crisis in many countries, the Mexican economy continues to develop and become more modern. The word “pesos oro” or “pesos plata” can be translated to gold or silver weights, an illustration of the look of the coins Mexico uses. The simple English translation is just the word “weight.” A separate part or subdivision of the peso is the word “centavos” which divides the peso in to 100 parts.

In addition to information on the Mexican Peso, Best Exchange Rates UK provides information on several types of currency, and the specific exchange rates they hold. More information like this can be found at: Best Exchange Rates UK. Other information provided includes currency in regards to business and private currency exchange. Privacy currency exchange includes emigration and information on international payments, useful for those traveling or looking into different exchange rates for separate currencies.