Convert USD to MXN at Best Exchange Rates
There are three simple steps you need to take in order to get a good USD-MXN exchange rate:
- Know the latest USD to MXN market mid-rate shown above - this is your starting point!
- Compare your Bank's exchange rates to several licensed FX providers, remember to compare both the exchange rate margins as well as the various types of fees. We make that easy to do with our calculators for Foreign Transfers and Travel Money transactions.
- Review up-to-date Currency News and Forecasts for both the U.S. dollar and Mexican peso currencies, if available.
1. Market USD/MXN mid-rate
Right now the USD/MXN market rate is and represents how many Mexican peso you can get for one U.S. dollar.
Calculate equivalent currency amounts with this USD to MXN currency converter then select the transaction type to compare the best exchange rates available.
Currency Converter USD to MXN
U.S. dollar to Mexican peso (USD-MXN) - 10 Year History
|20 Jun 2018||20.3395||Latest|
|13 Jun 2018||20.6687||1 Week||-1.59%|
|21 May 2018||19.8385||1 Month||+2.53%|
|22 Dec 2017||19.7472||6 Months||+3%|
|20 Jun 2017||18.2233||1 Year||+11.61%|
|20 Jun 2016||18.6963||2 Years||+8.79%|
|21 Jun 2013||13.3060||5 Years||+52.86%|
|22 Jun 2008||10.3009||10 Years||+97.45%|
The USD/MXN mid-rate is the rate you will see Quoted on Google or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the USD / MXN was traded (bought or sold) in the international markets.
The closer your final exchange rate is to the market / midrate the better deal you are getting.
2. Transaction Costs - Margins and Fees for USD/MXN Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
USD to MXN Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from USD to MXN.
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote
Compare Foreign Transfers
Sending USD 10,000 to MXN
Fees: USD 0
Rate timestamp : Thu Jun 21 2018 05:03:42 GMT+0000 (UTC)
Fees: USD 15
Travel Money USD to MXN - Costs Compared
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Travel Money Exchange Rates Compared
Buying MXN Cash with USD 1,000
Fees: USD 0
Rate timestamp : Thu Jun 21 2018 05:00:04 GMT+0000 (UTC)
Fees: USD 10 (1%)
Getting a good market rate is mainly about timing however 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 comparison calculators make shopping around easy and help you calculate how much you can save.
Why can't I just get the same USD/MXN market rate I see on Google or in the Media?
When you look up the current U.S. dollar to Mexican peso exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great USD to MXN mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use our USD to MXN currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates. Then choose your transaction type for specific U.S. dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for U.S. dollar and Mexican peso
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 is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the USD vs MXN, you should pay attention to both U.S. dollar and Mexican peso news and forecasts.
U.S. dollar (USD) - Market news and forecasts
It was a fine run for the dollar during the six-week period ending May 25th – the day of this report. The Dollar Index never looked back after breaking from a pocket of congestion in the final week of April. The index ended this period achieving a six-month high of 94.3. The dollar benefited from higher US yields.
Against individual currencies, within this timeframe the dollar was impressive against the euro, which fell to buy only 1.165 dollars, from levels near 1.24; against the pound, which fell to buy 1.33 dollars, from 1.44; and against the New Zealand dollar, which fell to 0.69 from 0.738.
A warning on the dollar’s medium-term outlook was offered in May by Citibank. The bank argues that downward pressure on the dollar will resume because Washington’s planned fiscal spending will cause a further deterioration in the US’ twin deficits. The dollar might have 5 percent downside over 6-12 months and 10 percent downside in the long run, a Citi analyst said.
In the coming month, supporting the dollar against growth-sensitive currencies, which include CAD, AUD, NZD, SEK, NOK, SGD and most of the emerging market currencies, will be developments surrounding global trade. In May, trade tensions resurfaced after the US Commerce Department announced it would investigate automobile imports. In 2018, Washington had already announced tariffs on aluminium and steel imports, angering much of the rest of the world.
Mexican peso (MXN) - Market news and forecasts
Entering 2018, all analysts polled by Bloomberg predicted a stronger peso, with most year-end forecasts lying between 17 and 18 pesos per dollar. The peso followed the plan between January and mid-April, strengthening from 19.6 to 18, but since then, the peso has fallen sharply. By mid-May – the time of this report – the peso had fallen back through its 2018 opening price to a one-year low of 19.93. The peso is likely to be supported, at least in the short-term, should the USD/MXN exchange rate reach 20.0 – this being a psychologically important level for investors.
Additionally, the euro is still buying more than 23 pesos; the peso thus continues to trade at historically weak levels versus the single currency.
Factors driving the peso lower in 2018 will include political uncertainty ahead of this summer’s election, uncertainty over NAFTA negotiations, higher US interest rates and the emergence of a currency crisis in Argentina, which has unnerved investors in emerging markets.
Supporting the peso this year will be monetary policy, with the probability of further interest rate hikes remaining high; and oil, which climbed in May to long-term highs above $70 per barrel.