MXNMexican PesoMexican Peso (MXN)
The Mexican peso is the official currency of Mexico. Banco de Mexico issues banknotes and manages the monetary system, while coins are produced by the Mexican Mint. MXN is the ISO code used to distinguish Mexico's peso from other peso currencies. One peso is divided into 100 centavos.
- ISO code
- MXN
- Symbol
- MXN
- Region
- Americas
- Currency type
- Fiat currency
- Exchange system
- Banco de Mexico is the autonomous central bank responsible for issuing peso banknotes and maintaining the currency system.
- Last reviewed
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Quick facts
MXN at a glance
Currency profile
How MXN works
The Mexican peso is the official currency of Mexico. Banco de Mexico issues banknotes and manages the monetary system, while coins are produced by the Mexican Mint. MXN is the ISO code used to distinguish Mexico's peso from other peso currencies. One peso is divided into 100 centavos.
MXN conversions are common in tourism, remittances, cross-border commerce, manufacturing and price comparisons involving North America. CurrencyHub shows a dated reference calculation and makes the base and quote currencies explicit. Cash exchange counters, cards, banks and transfer services can each provide a different customer result, so the published reference rate is not a promise of the amount available in a transaction. The code MXN should remain visible whenever the peso symbol could be ambiguous.
- MXN is divided into 100 centavos and shares the dollar sign with several other currencies.
- The current peso unit resulted from the 1993 redenomination at 1 new peso for 1,000 former pesos.
Context
Why this currency matters
MXN is one of the most actively traded emerging-market currencies and is closely connected with trade across North America. USD/MXN and MXN/USD are therefore important pairs for businesses and households. Peso conversions also appear in tourism and recurring family transfers, where the amount received matters more than an advertised headline rate. Comparing results requires the same direction and amount, plus clear separation between the published reference value and any provider's final customer terms. This is particularly useful for recurring monthly comparisons.
Monetary framework
Exchange arrangement
Banco de Mexico is the autonomous central bank responsible for issuing peso banknotes and maintaining the currency system.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for MXN
Banco de Mexico began operations
Mexico's central bank began operating and progressively consolidated the national currency-issue framework.
Banco de Mexico - exchange-rate regimes in MexicoNuevo peso introduced
Mexico removed three zeros and introduced the nuevo peso at one new unit for 1,000 former pesos.
Banco de Mexico - exchange-rate regimes in MexicoNuevo label removed
The transitional word nuevo was dropped from notes and the currency continued under the peso name and MXN code.
Banco de Mexico - exchange-rate regimes in Mexico
Usage and economy
How MXN is used
- Prices, wages and payments across Mexico.
- Trade, tourism and remittance comparisons between Mexico, the United States and Canada.
Country currency guides
Banknotes and coins
MXN currency units
Banco de Mexico publishes the current Mexican peso banknote families and security information.
Banco de Mexico documents the peso and centavo coins used in circulation.
One Mexican Peso unit is recorded with 2 decimal places and uses Centavo as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
MXN questions
Why is MXN widely traded?
Mexico has substantial cross-border trade and investment links with the United States and deep domestic currency markets, supporting frequent MXN trading.
Did Mexico remove zeros from the peso?
Yes. The 1993 reform introduced one nuevo peso for 1,000 units of the former peso.
Why should a Mexican peso amount include MXN?
The peso uses the same dollar sign seen with several currencies, so MXN removes ambiguity in international records.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.