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Mexico Currency Peso
Mexican Peso: Guide to Currency in Mexico
The official Mexican currency is the Mexican Peso.
Mexico is a country rich in culture, history, and economic activity. Whether you are planning a trip to Mexico, conducting business, or exploring investment opportunities, understanding its currency is crucial. This guide will provide a thorough overview of Mexico’s currency, the Mexican peso, and offer practical advice on converting currencies, particularly the US Dollar, into Mexican pesos using convert hubs and currency converters.
History of the Mexican Peso
The Mexican peso is one of the oldest currencies in North America, with roots tracing back to the colonial era. The word “peso” means “weight” in Spanish, and it originally referred to the Spanish dollar, which was widely used in trade during the 16th and 17th centuries. The peso was officially introduced as the national currency of Mexico in 1863.
In the early 20th century, Mexico adopted a decimal system for its currency, which simplified transactions and made currency conversion easier. However, economic challenges, such as inflation and devaluation, led to significant changes over the years. In 1993, the government introduced the “nuevo peso” (new peso) by dropping three…
