Mexican dollar
| Mexican peso | |
|---|---|
| peso mexicano (Spanish) | |
$1000 banknote obverse
|
|
| ISO 4217 | |
| Code | MXN |
| Number | 484 |
| Exponent | 2 |
| Denominations | |
| Subunit | |
| 1/100 | centavo |
| Symbol | $ or Mex$ |
| centavo | ¢ |
| Banknotes | |
| Freq. used | $20, $50, $100, $200, $500 |
| Rarely used | $1000 |
| Coins | |
| Freq. used | 50¢, $1, $2, $5, $10 |
| Rarely used | 5¢, 10¢, 20¢, $20 |
| Demographics | |
| User(s) |
 Mexico
|
| Issuance | |
| Central bank | Bank of Mexico |
| Website | www |
| Printer | Bank of Mexico |
| Website | www |
| Mint | Casa de Moneda de México |
| Website | www |
| Valuation | |
| Inflation | 2.74% (July 2015) |
| Source | Banco de Mexico, December 2008 |
The Mexican peso (sign: $; code: MXN) is the currency of Mexico. Modern peso and dollar currencies have a common origin in the 15th–19th century Spanish dollar, most continuing to use its sign, "$". The Mexican peso is the 8th most traded currency in the world, the third most traded currency originating from the Americas (after the United States dollar and Canadian dollar), and the most traded currency originating from Latin America.
The current ISO 4217 code for the peso is MXN; prior to the 1993 revaluation (see below), the code MXP was used. The peso is subdivided into 100 centavos, represented by "¢". As of January 13, 2017, the peso's exchange rate was $22.86 per Euro and $21.48 per U.S. dollar.
The name was originally used in reference to pesos oro (gold weights) or pesos plata (silver weights). The literal English translation of the Spanish word peso is weight.
The peso was originally the name of the eight-real coins issued in Mexico by Spain. These were the so-called Spanish dollars or pieces of eight in wide circulation in the Americas and Asia from the height of the Spanish Empire until the early 19th century (the United States in fact accepted the Spanish dollar as legal tender until the Coinage Act of 1857).
In 1863, the first issue was made of coins denominated in centavos, worth one hundredth of the peso. This was followed in 1866 by coins denominated "one peso". Coins denominated in reales continued to be issued until 1897. In 1905, the gold content of the peso was reduced by 49.3% but the silver content of the peso remained initially unchanged (subsidiary coins were debased). However, from 1918 onward, the weight and fineness of all the silver coins declined, until 1977, when the last silver 100-peso coins were minted.
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Wikipedia