Mexico - Mexican Peso - Currency Guide

This is a currency guide to Mexico, the Mexican Peso currency plus sending (MXN) transfers and travel tips for Mexico.

 
 
CountryMexico
FlagMexico
Country CodeMX
Domestic Currency Mexican Peso
Currency SymbolMex$
Currency CodeMXN
Exchange RateUSD/MXN = 24.26
Telephone Prefix+52

Quick Conversions from US Dollar to Mexican Peso

USD

MXN

U$ 1
Mex$ 24.26
U$ 5
Mex$ 121.30
U$ 10
Mex$ 242.60
U$ 20
Mex$ 485.20
U$ 50
Mex$ 1,213
U$ 100
Mex$ 2,426
U$ 250
Mex$ 6,065
U$ 500
Mex$ 12,130
U$ 1,000
Mex$ 24,260
U$ 2,000
Mex$ 48,520
U$ 5,000
Mex$ 121,300
U$ 10,000
Mex$ 242,600
U$ 50,000
Mex$ 1,213,000
U$ 100,000
Mex$ 2,426,000
More amounts

USD

MXN

U$ 0.0412
Mex$ 1
U$ 0.2061
Mex$ 5
U$ 0.4122
Mex$ 10
U$ 0.8244
Mex$ 20
U$ 2.0611
Mex$ 50
U$ 4.1222
Mex$ 100
U$ 10.31
Mex$ 250
U$ 20.61
Mex$ 500
U$ 41.22
Mex$ 1,000
U$ 82.44
Mex$ 2,000
U$ 206.11
Mex$ 5,000
U$ 412.22
Mex$ 10,000
U$ 2,061
Mex$ 50,000
U$ 4,122
Mex$ 100,000
More amounts

To calculate specific USD/MXN amounts use our Convert USD to MXN quick calculator. To read more about the latest exchange rate trends and to compare FX provider rates view USD to MXN Rate Guide.

Mexico Currency Info

Contributing to a little more than 2% of the foreign exchange market daily turnover, the Mexican peso is the world’s second most traded emerging market currency, behind only the Chinese yuan. The peso is subdivided into 100 centavos.

The peso’s value is heavily influenced by commodities prices, particularly oil.

As an emerging market currency, the peso is considered riskier than currencies from major developed nations, which means that its value will fall against those currencies (especially JPY, CHF, USD, GBP and EUR) during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.

Mexicans are mostly concerned with the value of their currency against the US dollar, since more than 80% of Mexican exports go to the US, with whom Mexico shares a free trade agreement.

The peso has consistently depreciated against the dollar since it's all-time high in 1972, when USD/MXN traded at just 0.01. By 1990, USD/MXN was at 2.7; at the end of 1994, after the currency was devalued by Mexico’s government, USD/MXN stood at 5.7; by the year 2000, the USD/MXN was meandering around 9.5; in 2009, the rate reached 15.6; and in January 2017, the peso reached an all-time low when USD/MXN traded as high as 22.03.


Frequently Asked Questions


What currency should I use in Mexico?

The domestic currency in Mexico is the Mexican Peso.

What is the Mexican Peso currency code and symbol?

The three letter currency code for the Mexican Peso is MXN — symbol is Mex$.

How much is U$100 US Dollars in Mexican Peso?

U$ 100 converts to Mex$ 2,426

Which countries use the Mexican Peso?

It is the domestic currency in Mexico.

Is the Mexican Peso a closed currency?

No, the Mexican Peso is freely available and convertible. See guide: What is a closed currency?


Mexican Peso (MXN) in the markets

The peso fortunes are connected to the oil market with oil high on the list of Mexico’s top exports.

US interest also affect the peso because Mexico holds high levels of dollar-denominated debt, which becomes easier to repay when dollars are cheap and US rates are low.

The interactive chart below shows the USD to MXN exchange rate and trend for the previous 3 months:

ALERT:1-DAY3.8% 🔔|
USD/MXN at 24.14 was trading 19.2% above AVG:20.26 with LO:18.55 and HI:25.39 (90 days). ALERT: USD/MXN has reversed trend and is DOWN 3.8%
07-APR 3PM-NY 8PM-LON 08-APR 3AM-HK 5AM-SYD
Booking.com

Travel, Currency and Money saving tips for Mexico

Mexico is a fascinating and vibrant country to travel in, though like many other great spots there are also areas where there is crime, and tourists can be targeted for theft and pickpocketing. So some convenient tips are to photocopy your passport, and the front and back of your credit cards, so you have copies of their details. It may be a good idea to travel with a Prepaid Travel Card to avoid having to carry your credit card on you at all times. You can then leave your credit cards and passport in the hotel safe. 

At the airport and bus stations in Mexico City and other major cities there are official taxis (Taxis Autorizados) that you should take. Avoid hailing taxis on the street, hotels will always be willing to organise this for you. For a long time flights within Mexico have been expensive and most travelers went by the good bus system or by train. Now however, depending on your preference, flights are very affordable and convenient, and can save a lot of time seeing more of the country. Doing a bit of looking around online can save you a lot of money on flights.

 

Travel money for Mexico

Save money and time by Ordering your Mexican Peso online from Travelex, you get better rates and can pick up the MXN cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Mexican Peso otherwise you may get much worst exchange rates.

 
Travel Money Provider Amount MXN(Mex$) Exchange RateFee USDDeal Links
Travelex Online US logo
Mex$21,435
10.76%
Best Overall
21.43450^
U.S. Bank Foreign Currency
U.S. Bank logo
Mex$20,790
13.44%
Mex$645 less
20.790
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
Mex$20,582
14.31%
Mex$853 less
20.79U$10
Wells Fargo Bank logo
Mex$20,374
15.18%
Mex$1,061 less
20.79U$20
 
Travelex Online US logo
Travelex Online US: Travel Money USD→MXN
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:21.4345 (10.76% from mid-rate)
To Amount (MXN) Mex$21,435
Total Cost:10.76%
Time:
Rate Fetched: Tue Apr 07 2020 18:00:05 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
U.S. Bank logo
U.S. Bank: Travel Money USD→MXN
From Amount (USD)U$1,000
Fee:0
Exchange Rate:20.79 (13.44% from mid-rate)
To Amount (MXN) Mex$20,790
Total Cost:13.44%
Time:18:03 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Travel Money USD→MXN
From Amount (USD)U$1,000
Fee:U$10 USD (1%)
Exchange Rate:21.02 (12.49% from mid-rate)
To Amount (MXN) Mex$20,582
Total Cost:14.31%
Currency Services:Branch
Delivery/Collect:-
 
Wells Fargo Bank logo
Wells Fargo Bank: Travel Money USD→MXN
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:20.79 (13.44% from mid-rate)
To Amount (MXN) Mex$20,374
Total Cost:15.18%
Time:18:03 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Snapshot 04/07/2020 - View latest rates

Mexico Trip Checklist    

 
  1. Compare MXN travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Mexico
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Mexico

When searching around for information on how to get a good exchange rate when sending money to Mexico you need to start with finding out the latest Mexican Peso foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).


Get a better deal for foreign transfers to Mexico

When sending money to Mexico it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Mexican Peso amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted MXN amount will be transfered to the recipient account you specify in Mexico.

Use our Send to Mexican Peso calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Mexican Peso deposited into the recipient bank account and less margins and fees kept by the banks!

  

USD to MXN International Money Transfers

  

Foreign Transfer Provider Receive MXN(Mex$) Exchange RateFee USDDeal Links
OFX logo
Mex$236,000
1.74%
Best Overall
23.60^
XE logo
Mex$237,200
1.24%
Mex$1,200 more
23.720
Wells Fargo Bank logo
Mex$230,884
3.87%
Mex$5,116 less
23.1318
HSBC logo
Mex$230,654
3.97%
Mex$5,346 less
23.1U$15
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
Mex$229,284
4.54%
Mex$6,716 less
23.0615
Bank of America International Money Transfers
Bank of America logo
Mex$227,799
5.16%
Mex$8,201 less
23.01U$100
U.S. Bank International Money Transfers
U.S. Bank logo
Mex$227,799
5.16%
Mex$8,201 less
23.01U$100
 
OFX logo
OFX: Foreign Transfer USD→MXN
From Amount (USD)U$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:23.6 (1.74% from mid-rate)
To Amount (MXN) Mex$236,000
Total Cost:1.74%
Time:
Rate Fetched: Tue Apr 07 2020 18:02:46 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
XE logo
XE: Foreign Transfer USD→MXN
From Amount (USD)U$10,000
Fee:
Exchange Rate:23.72 (1.24% from mid-rate)
To Amount (MXN) Mex$237,200
Total Cost:1.24%
Difference:
Mex$1,200 MXN more than using OFX
Time:18:03 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
Wells Fargo Bank logo
Wells Fargo Bank: Foreign Transfer USD→MXN
From Amount (USD)U$10,000
Fee:18
Exchange Rate:23.13 (3.7% from mid-rate)
To Amount (MXN) Mex$230,884
Total Cost:3.87%
Difference:
Mex$5,116 MXN less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
HSBC logo
HSBC: Foreign Transfer USD→MXN
From Amount (USD)U$10,000
Fee:U$15 USD (.15%)
Exchange Rate:23.1 (3.83% from mid-rate)
To Amount (MXN) Mex$230,654
Total Cost:3.97%
Difference:
Mex$5,346 MXN less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer USD→MXN
From Amount (USD)U$10,000
Fee:15
Exchange Rate:22.96 (4.41% from mid-rate)
To Amount (MXN) Mex$229,284
Total Cost:4.54%
Difference:
Mex$6,716 MXN less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
Bank of America logo
Bank of America: Foreign Transfer USD→MXN
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:23.01 (4.2% from mid-rate)
To Amount (MXN) Mex$227,799
Total Cost:5.16%
Difference:
Mex$8,201 MXN less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
U.S. Bank logo
U.S. Bank: Foreign Transfer USD→MXN
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:23.01 (4.2% from mid-rate)
To Amount (MXN) Mex$227,799
Total Cost:5.16%
Difference:
Mex$8,201 MXN less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 04/07/2020 - View latest rates

Mexican Peso to US Dollar - Historical Rates

PeriodMXN/USDDate
1 Day0.041930 Mar 2020
7 Day0.040424 Mar 2020
30 Day0.050301 Mar 2020
3 Month0.052901 Jan 2020
1 Year0.052201 Apr 2019
5 Year0.066502 Apr 2015
10 Year0.081203 Apr 2010

Mexican Peso to Euro - Historical Rates

PeriodMXN/EURDate
1 Day0.038030 Mar 2020
7 Day0.037424 Mar 2020
30 Day0.045601 Mar 2020
3 Month0.047101 Jan 2020
1 Year0.046501 Apr 2019
5 Year0.061102 Apr 2015
10 Year0.060003 Apr 2010

Mexican Peso to Pound Sterling - 10 Year History

PeriodMXN/GBPDate
1 Day0.033930 Mar 2020
7 Day0.034224 Mar 2020
30 Day0.039401 Mar 2020
3 Month0.039901 Jan 2020
1 Year0.039901 Apr 2019
5 Year0.044802 Apr 2015
10 Year0.053203 Apr 2010

Mexican Peso to Australian Dollar - Historical Rates

PeriodMXN/AUDDate
1 Day0.068030 Mar 2020
7 Day0.067624 Mar 2020
30 Day0.077801 Mar 2020
3 Month0.075301 Jan 2020
1 Year0.073401 Apr 2019
5 Year0.087602 Apr 2015
10 Year0.088303 Apr 2010

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