Mexico’s peso is a free-floating currency on the world’s foreign exchange markets. It’s one of the world’s most-traded currencies and is the most-traded of Latin America’s currencies.
Mexico’s official currency
Mexico’s official currency is the Mexican peso. There are one hundred Mexican cents (centavos) to every peso.
- The symbol for the Mexican peso is $; its international currency code is MXN.
- To distinguish this from the dollar, you sometimes see it presented as MX$ or the value with the letters “MN” after it, e.g., $100 MN. The MN stands for Moneda Nacional, meaning National Currency.
- The Mexican Peso is a “free floating” currency in foreign exchange markets and like other similar currencies, its value against other world currencies fluctuates daily.
Discover Mexico’s banknotes and coins
In addition to its defined responsibilities for setting monetary policy, the bank of Mexico is responsible for the printing, minting, distribution, and management of Mexico’s physical currency.
Every ten years or so, bank note designs are updated to implement the latest in anti-counterfeit technologies.
Mexico’s banknotes are printed in denominations of 20-, 50-, 100-, 200-, 500- and 1,000-peso bills. The most seen and used are the 50-, 100- and 200-peso bills.
Mexico’s coins are minted in denominations of 50 cents, 1-peso, 2-pesos, 5-pesos, 10-pesos, and there are also some $20-peso coins in circulation.
Mexico’s current series of coins have remained unchanged for decades. The old 20-cent coins are now out of general circulation and the 50-cent coins although still circulating are not often seen and used.
In addition to the bank’s standard set of current coins, commemorative coins have been introduced over the years which don’t tend to circulate widely as they are kept by consumers or bought by collectors.
Learn about managing your money in Mexico
Mexperience offers you a wealth of information about Mexico’s money, banking services, and banknotes.
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