In this Euro to Mexican peso guide:
We review euro to Mexican peso latest & historic FX rates along with recent EUR/MXN Trend and Alerts.
In this Euro to Mexican peso guide:
Exchange rates available for foreign transfers and currency exchange always contain either a rate margin from the wholesale EUR/MXN mid-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 and the possible savings of using another FX provider.
We can help you get an even better deal when sending a Large International Money Transfer.
Click below for the Request Quotes form and enter your transfer details (BER account required).
Save time and money - fewer websites to visit and you get a much better exchange rate & service.
The Mexican peso continued its good run in 2020 hitting the significant value of 20 to the US dollar November 23rd, as the oil price continues to improve and investors look for higher yield investments. 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's prediction in April was dire; Cash transfers from immigrants in the U.S. to family in Latin America would plummet 19% due to the pandemic. However with remittances surging, the level of money being sent is roughly equal with 2019.
The topside of the EUR/USD is now limited to 1.2000 and the risk is for a move to the next support at 1.1700. EUR Forecasts
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.
All foreign exchange providers charge a fee for providing their service and this fee 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.
This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the euro vs Mexican peso current value is to look the EUR/MXN historic rate and change over a range of periods.
The following table looks at the change in the EUR to MXN exchange rate over periods from the previous week back to the last 10 years.
26 Jul 2021→
|0.1% ▼||1 Week|
03 Jul 2021→
|0.8% ▲||30 Days|
04 May 2021→
|2.7% ▼||90 Days|
02 Aug 2020→
|9.9% ▼||1 Year|
03 Aug 2016→
|12.2% ▲||5 Years|
05 Aug 2011→
|38.2% ▲||10 Years|
EUR/MXN rate change to 02-Aug-2021 → 23.6358
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 EUR/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.
^ Scroll back up to ^