The Mexican Peso

Mexican Peso

 

The Mexican peso (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 12th most traded currency in the world, the third most traded in the Americas, and by far the most traded currency in Latin America.  Prior to the 1993 revaluation the code MXP was used. The peso is subdivided into 100 centavos, represented by "¢". 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. As of August 1, 2012, the peso's exchange rate was 16.37 per euro and 13.38 per U.S. dollar.