BestExchangeRates Mexico - Compare & Save on Foreign Exchange
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For over a decade BestExchangeRates.com has been a trusted voice in foreign exchange in the United States and globally.
BestExchangeRates compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.
We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.
More than 3 million satisfied visitors have saved over $200M on foreign exchange.
We partner with only the largest, safest and most trusted foreign exchange brands.
Track MXN rates – transact when market in your favour. Follow FX forecasts & analysis.
Any marketing fees we receive from partners do not affect your exchange rate savings.
Popular MXN Exchange Rates
Follow exchange rates via your personal BER My Rates Tracker to keep track of trending currency pairs so that you can take advantage of opportunities and trends in the market.
Save on International Money Transfers
Sending money abroad can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers can be very expensive – often 5% to 6% worse than using a foreign exchange specialist to send money abroad or pay a foreign invoice.
Where do you want to Send Money?
We compare exchange rates from major financial institutions in Mexico.
Save with our partners who are among the best & most trusted brands in Mexico.
Get Better Currency Exchange Rates
We show you how to save by ordering foreign cash online or compare rates on multi-currency travel cards for better currency exchange rates, convenience and security for your next trip or overseas online purchase.
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Mexican peso market update
In recent weeks, the Mexican Peso (MXN) has faced increased pressure, marked by its lowest points against the US dollar in the past year. As of early August, the MXN traded at 0.051674 USD, reflecting a decline of 1.6% from its three-month average. Economists attribute this depreciation to rising apprehensions regarding a sluggish US economy, which has been further exacerbated by a notable increase in unemployment figures. The recent unemployment report indicated a shocking 4.3% spike, unsettling traders and leading to a market pullback despite minimal changes in Mexico's gross fixed investments and a slight rise in unemployment.
The health of the Mexican peso remains intricately linked to the oil market and US interest rates, given Mexico's substantial dollar-denominated debt. As such, higher US interest rates pose challenges for repayment and can push the currency lower. The peso's connection to cash remittances has also shown resilience, as these streams from Mexican workers abroad have bucked expectations of decline amidst the broader economic downturn. Remittances play a vital role in stimulating domestic demand and bolstering household incomes in Mexico. With the MXN to EUR and MXN to GBP showing similar patterns, trading at 0.047059 and 0.039433 respectively—both below their three-month averages—markets are displaying volatility, with the MXN recently trading within ranges as wide as 15.3%. FX analysts suggest that this volatile environment could compel investors to retreat from emerging market currencies, including the peso, in favor of safer assets as concerns around economic conditions continue to escalate.
BestExchangeRates.com keeps you up-to-date on Mexican peso forecasts by collating the views of reliable FX forecasters and economists together with recent MXN price trends. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.