MXN is the currency abbreviation for the Mexican peso, which is the official currency of Mexico. The name "peso" means "weights" and refers to gold or silver weights. The peso was initially based on Spain's official currency, known as real , which was the Spanish dollar minted in silver. The Mexican name originated from the most common denomination of the currency, which was the silver 8-real coin, and remained in circulation until the midth century.
In the first coins were produced that were denominated in centavos , and worth one-hundredth of the peso. These coins remained in circulation until the midth century, but their content of gold was reduced substantially over time. Following a period of hyperinflation and currency devaluation in the s, which occurred after Mexico defaulted on its external debt as a result of the s oil crisis, the government of Mexico in created a new peso, or nuevo peso , to replace the original peso.
The new peso replaced the old peso at a rate of , Like many emerging market currencies, the value of the peso fluctuates with the geopolitical and global sentiment.
Generally, when global volatility is low, the peso appreciates, as seen in the years after the Great Recession. A slew of accommodative central bank policy initiatives saw volatility fall and the value of the peso slowly climb.
The Mexican peso is the fifteenth most traded currency in the world and the most traded in Latin America. Federal Reserve History. Bank for International Settlements. Accessed April 2, Emerging Markets. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. We're doing our best to make sure our content is useful, accurate and safe. If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly.
Forgot your password? Retrieve it. Abbreviation » Term. Term » Abbreviation. Word in Term. Term » Abbr. Filter by: Select category from list Couldn't find the full form or full meaning of MXN? Discuss these MXN abbreviations with the community: 0 Comments. Notify me of new comments via email. Convert Send Charts Alerts.
MXN — Mexican Peso. We use midmarket rates These are derived from the mid-point between the "buy" and "sell" transactional rates from global currency markets. They are not transactional rates. Learn more. View full chart. High These are the highest points the exchange rate has been at in the last 30 and day periods. Low These are the lowest points the exchange rate has been at in the last 30 and day periods. Average These are the average exchange rates of these two currencies for the last 30 and 90 days.
Volatility These percentages show how much the exchange rate has fluctuated over the last 30 and day periods. Currency Information.
0コメント