When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.
| Foreign Transfer Providers Ratings & Reviews | Receive MXN($) | Exchange Rate | Fee CAD | Total Cost | Transfer Services | Transfer Speed | Deal Links |
|---|---|---|---|---|---|---|---|
   Great rates and platform for personal, business and online sellers. Get local currency accounts in GBP, EUR, CAD, USD, AUD, NZD, JPY and CNY. More▾ | 145,100 MXN Best Overall | 14.51 | 0 | 0.37% | Bank Transfers - Online & Phone | 1-2 days | |
 OFX exchange rates are highly competitive for global money transfers, great customer service. ^Zero transfer fees for BestExchangeRates customers. More▾ | 143,600 MXN $1,500 less | 14.36 | 0^ | 1.4% | Bank Transfers - Online & Phone | 1-2 days | |
Banks - Average Rate      Average rate from these selected Banks. Click icons to see each bank's individual rate and fee. More▾ | 139,255 MXN $5,845 less | 14.04 | 15 | 4.38% | Online, Branch, Bank Transfers | 2-3 days |
This is the current CAD-MXN mid-market exchange rate. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market CAD-MXN exchange rate.
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.
So it follows that if you are determining the best time to transact, in this case the CAD vs MXN, you should pay attention to both Canadian Dollar and Mexican Peso news and forecasts.
7-February-19: January was a fantastic month for the Canadian dollar. A gain of 4 percent relative to the US dollar took USD/CAD away from 19-month highs near C$1.365 into the low C$1.31s.
A recovery in the oil market has played a big part in the loonie’s 2019 recovery. By the time of this report, oil had gained nearly $12 per barrel, or 23 percent, on 2018 lows. The price of oil remains vital to Canada’s economy; it had fallen by as much as 40 percent in the October-December period.
Going forward, risks to the Canadian dollar include, of course, oil, and the return of global trade tensions.
Towards the end of 2018, Goldman Sachs predicted a strong energy market rebound in 2019 — more so than has already been realised — and this would underpin Canada’s currency.
In February, Westpac reaffirmed its view that the Canadian dollar would be an outperformer in 2019. Canada’s growth picture is more secure than those of the eurozone, UK or Australia, Westpac believes, and as a result, the Bank of Canada will be more hawkish this year relative to other G10 central banks, driving CAD appreciation.
12-February-2019: The December-January period was an excellent one for the Mexican peso as it strengthened by nearly 7 percent into the low 19s per USD. Traders began piling into pesos after USD/MXN failed multiple times in the fourth quarter ’18 to break meaningfully through important resistance at 20.5-20.6.
From here on in, the peso stands to appreciate, or will at least be among the best performing emerging market currencies of 2019, says an analyst at ING. The analyst said in February that the peso had most to gain because of its sensitivity to the oil price, which ING says has significant upside this year.
Also supporting the peso in 2019 will be a slower pace of Federal Reserve interest rate hikes. Under such conditions the dollar will weaken, and emerging market currencies should gain value as a result because their respective governments usually hold high levels of dollar-denominated debt, which becomes easier to repay when dollars are cheaper.
