MXN (Mexican Peso)

DEFINITION of 'MXN (Mexican Peso)'

The currency abbreviation for the Mexican peso (MXN), the currency for Mexico. The Mexican peso is made up of 100 centavos and is often presented with the symbol $ or Mex$. The name peso comes from the Mexican word "pesos", which means "weights", and refers to gold or silver weights.

BREAKING DOWN 'MXN (Mexican Peso)'

Following a period of hyperinflation and currency devaluation in the 1980s that occurred after Mexico defaulted on it external debt as a result of the 1970s oil crisis, the government of Mexico created a new peso, or "nuevo peso", to replace the original peso in 1993. The new peso replaced the old peso at a rate of 1:1000.

RELATED TERMS
  1. MXN

    In the currency market, this is the abbreviation for the Mexican ...
  2. ARP (Argentinian peso)

    The currency abbreviation, or currency symbol, for the Argentinian ...
  3. Tequila Effect

    Informal name given to the impact of the 1994 Mexican economic ...
  4. UYU (Uruguayan Peso)

    The currency abbreviation for the Uruguayan peso (UYU), the currency ...
  5. ARS (Argentinian Nuevo peso)

    The currency abbreviation, or currency symbol, for the Argentinian ...
  6. CLP (Chilean Peso)

    The currency abbreviation for the Chilean peso (CLP), the currency ...
Related Articles
  1. Trading

    Why Greece, Oil and China Affect the Mexican Peso

    Discover how oil, Greece and China have all played a part in the rapid devaluation of the Mexican peso compared to other currencies.
  2. Markets

    What Are the Best Hours to Trade the Mexican Peso? (MXN, USD)

    The best times to trade the Mexican peso are centered around economic releases, typically in the morning hours.
  3. Trading

    3 Reasons The Mexican Peso Is So Liquid (MXN, USD)

    Mexico's vast petroleum reserves and close proximity to the United States add considerable liquidity to the Mexican peso.
  4. Markets

    How Does a Currency Peg Work?

    When a government initiates a currency peg, it pegs its currency’s value to that of another country.
  5. Trading

    This Might Be the Best Time to Buy Colombian Pesos

    Signs are growing that energy markets are bottoming out, allowing the Colombian Peso to recover its value in a profitable trend against the U.S. Dollar.
  6. Markets

    Hamburger Economics: The Big Mac Index

    In theory, PPP stands up much better than it does in reality. Find out how to evaluate currencies according to the price of a Big Mac.
  7. Trading

    Forex Investing: How To Capture Commodity Fluctuations

    For individual or retail investors looking to gain exposure to hot commodity trends, the foreign exchange markets provide the answer.
  8. Markets

    4 Economic Challenges Mexico Faces in 2016

    Learn how the Mexican economy improved in 2015 and why 2016 looks like a repeat. Find out why the biggest drag on the economy is still government corruption.
  9. Investing

    Argentina’s YPF Issues Local Currency Debt (YPF)

    Argentina’s YPF takes advantage of improving market conditions to issue the equivalent of $750 million of local currency debt.
  10. ETFs & Mutual Funds

    Invest in Emerging Market Currencies with this ETF

    Why this emerging market currency ETF needs to be on your radar.
RELATED FAQS
  1. What are the most common market indicators to follow the Mexican stock market and ...

    Learn the primary stock market indicators for the Mexican stock market and the leading economic indicators analysts use to ... Read Answer >>
  2. Is it wise for me to invest $100,000 in real estate out of the country?

    I'm 56 years old. ... Read Answer >>
  3. How did Carlos Slim start America Movil?

    Dig deeper into the origin and history of America Movil, one of the largest corporations in the world and the dominant telecommunications ... Read Answer >>
  4. What are the financial benefits of retiring in the Philippines?

    Read about the many financial benefits of retiring in the Philippines as an American expatriate, including low health costs ... Read Answer >>
  5. What is the purpose of the International Monetary Fund?

    Read about the stated goals of the International Monetary Fund, which acts as an economic adviser and lender of last resort ... Read Answer >>
  6. Is Mexico an emerging market economy?

    Learn the difference between a developed economy and an emerging market economy, and understand why Mexico is an emerging ... Read Answer >>
Hot Definitions
  1. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  2. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  3. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  4. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  5. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
  6. Weighted Average Life - WAL

    The average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding. Once calculated, ...
Trading Center