Mexican Peso (MXN)
The Mexican peso is one of the most traded emerging market currencies, helped by deep liquidity and Mexico's close trade ties with the United States. Banxico sets policy and lets the peso float.
The latest available mid-market reference is 1 MXN = 0.053684 USD. The table below shows the same rate against the other major currencies.
Key facts
Structural details reviewed . Regimes and issuing arrangements can change.
The role of the Mexican Peso
Mexico is deeply integrated with US manufacturing, and the peso is used as a liquid proxy for emerging market risk. Remittances and nearshoring investment are large sources of dollars.
A short history
The nuevo peso was introduced in 1993, replacing the old peso at a rate of 1,000 to one. The word nuevo was dropped in 1996, but the currency code and value stayed the same. Mexico moved to a floating rate in 1994 after the Tequila Crisis.
What moves the Mexican Peso
US manufacturing demand, nearshoring investment, remittances, Banxico policy and the interest rate gap with the Federal Reserve.
Live MXN exchange rate
| Currency | 1 MXN equals |
|---|---|
| US Dollar (USD) | 0.053684 |
| Euro (EUR) | 0.048309 |
| British Pound (GBP) | 0.040393 |
| Japanese Yen (JPY) | 8.5634 |
| Chinese Yuan (CNY) | 0.3589 |
| Indian Rupee (INR) | 5.0384 |
| Canadian Dollar (CAD) | 0.076445 |
| Australian Dollar (AUD) | 0.078344 |
| Swiss Franc (CHF) | 0.044657 |
Mid-market rate updated . Banks and transfer providers add a margin. About our rates.
MXN conversion pages
Guides for Mexican Peso
Other currency profiles
Mexican Peso questions
What is the Mexican Peso?
Mexican Peso (MXN) is used in the following countries and territories: Mexico. Central bank: Bank of Mexico (Banxico). Exchange rate regime: free float.
Which countries use the Mexican Peso?
The Mexican Peso is used in the following countries and territories: Mexico.
What affects the Mexican Peso exchange rate?
US manufacturing demand, nearshoring investment, remittances, Banxico policy and the interest rate gap with the Federal Reserve.