Compare & Save on Canadian dollar to Mexican peso FX rates - Check CAD to peso trends and forecasts.
In this CAD to peso rate guide:
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.
Cash remittances to South America have defied predictions of a large Covid related drop. The World Bank predicted that cash transfers from immigrants in the U.S. to family in Latin America would plummet 19% due to the pandemic however remittance levels have been surging.
Since the start of the Russia/Ukrainian war the risk on-off markets had been pushing the Canadian dollar rate up and down in a range around 0.7850 to the US dollar.
However from mid-September the loonie has weakened down from this range to around 0.73 relative to the greenback.
| Date | CAD/MXN | Change | Period |
|---|---|---|---|
14 Nov 2022 | 14.53 | 1.5% ▼ | 2 Week |
30 Aug 2022 | 15.39 | 7% ▼ | 3 Month |
28 Nov 2021 | 17.08 | 16.2% ▼ | 1 Year |
29 Nov 2017 | 14.43 | 0.8% ▼ | 5 Year |
30 Nov 2012 | 13.01 | 10% ▲ | 10 Year |
03 Dec 2002 | 6.5210 | 119.4% ▲ | 20 Year |
Exchange rates available for foreign transfers and currency exchange always contain either a rate margin from the Latest CAD to peso exchange rate (shown above) or a transaction fee and often both!
The below comparison table makes it easy to calculate the Total Cost you are being charged on CAD to peso currency rates and the possible savings of using different FX providers.
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 Canada (CAD) |  Mexico (MXN) |
There are two important ways to save on Foreign Exchange, the first is minimising unnecessary or excessive costs and fees, and the other is to transact when the exchange rate is in your favour.
Generally speaking, if you are buying Mexican peso with Canadian dollar, then it's good for the CAD/MXN exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
You can also read our practical guide to getting the Best Deals for your Foreign Transfers and Travel Money to Mexico.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add CAD/MXN to your BestExchangeRates My Rates Watchlist to track and benefit from currency movements.
Rather than requiring you to set a target rate, our FX Alerts work differently.
Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.
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