The best USD to MXN exchange rate is 17.52. We compare OFX conversion costs to this mid-market rate and other FX providers, find better deals.
In this OFX Dollar to Peso (USD/MXN) rate guide:
USD to MXN 
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Mexican peso (MXN) rates from different sources before making a conversion.
The below OFX Rate Comparison Table makes it easy to compare the Total Cost you are being charged on OFX Dollar to Peso currency rates and the possible savings of using various providers.
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OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.
OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.
OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.
When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.
*Minimum transfer amount apply. Please note that the receiving bank or intermediary bank may charge fees on transactions.
US dollar (USD) to Mexican peso (MXN) market data - latest interbank mid-rate, trend, chart & historic rates.
| Date | USD/MXN | Change | Period |
|---|---|---|---|
20 Nov 2023 | 17.11 | 2.1% ▲ | 2 Week |
05 Sep 2023 | 17.40 | 0.4% ▲ | 3 Month |
04 Dec 2022 | 19.39 | 9.9% ▼ | 1 Year |
05 Dec 2018 | 20.52 | 14.9% ▼ | 5 Year |
06 Dec 2013 | 12.95 | 34.9% ▲ | 10 Year |
09 Dec 2003 | 11.18 | 56.3% ▲ | 20 Year |
According to a Reuters Poll of Forex Strategists, the U.S. dollar is exhibiting enduring strength, underpinned by a robust domestic economy and the allure of high Treasury yields. Despite occasional weak spells, the greenback has demonstrated resilience, largely bolstered by concerns over global growth prospects and turmoil surrounding China's economic stability. This robustness is forecasted to continue into the near term. However, FX analysts foresee a modest softening of the dollar against major currencies in the upcoming year as the Federal Reserve potentially approaches its first rate cut. The market view is that while the USD's strengths may extend into 2024, a gradual decline is projected, given a shift in the Fed's monetary policy, as well as considerations of the global economic slowdown, corporate profitability uncertainties, and geopolitical tensions.
Read our full USD to MXN forecasts analysis
There are several ways to save on exchange rates when converting US dollar to Mexican peso:
Generally speaking, if you are buying Mexican peso with US dollar, then it's better for the USD/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.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
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 USD/MXN to your personalised BER Smart Rate Tracker 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.
Read our Currency guide to Mexico - a practical currency and money guide to travel, living and doing business in Mexico with the Mexican peso.
| United States (USD) | Mexico (MXN) |
Mexico can be a good place for Americans to retire to, as it offers a lower cost of living and a warm climate in many areas. However, it is important to keep in mind that Mexico has its own unique culture and way of life, which may take some getting used to.
Additionally, it is important to be aware of the potential risks and hazards that can come with living in a foreign country, such as crime and political instability. It is also important to research the area you plan to retire to and understand the local laws and customs. Consulting with a financial advisor and attorney before making any decisions is also advisable.
Read more at our Mexico (MXN) country guide
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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