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The '''Peso''' is the currency of ]. In the ] it was often divided into 100 ''centavos''. The '''peso''' is the currency of ]. It is divided into 100 ''centavos''. The symbol used for the peso is "$", while centavos are represented by "¢".

⚫ It was originally based on the ] silver ].


]: MXN (prior to 1993: MXP) ]: MXN (prior to 1993: MXP)

==History==

⚫ The peso was originally based on the ] silver ].

==Current system==

On ] ] Mexico adopted a new currency, the ''nuevo peso'' ("new peso", or MXN). The new peso was equal to 1000 of the obsolete MXP pesos. The change was necessitated by the violent and massive devaluations the currency had suffered over the previous quarter century.

On ] ] the modifier ''nuevo'' was dropped from the name and new coins and banknotes – identical in every respect to the 1993 issue, with the exception of the now absent word "nuevo" – were put into circulation. The ISO 4217 code, however, remained unchanged as MXN.

The coins currently in circulation are the 5¢, 10¢, 20¢, 50¢, $1, $2, $5, and $10; $20 and $50 coins also exist and are legal tender, but they are extremely rare. Banknotes are issued in denominations of $20, $50, $100, $200, and $500; a $10 note existed during the early days of the changeover but has since been withdrawn.

These banknotes depict the following figures from ]:
*$10: ]
*$20: ]
*$50: ]
*$100: ]
*$200: ]
*$500: ]

==External link==
* (Mexico's Central Bank)

Revision as of 04:25, 12 March 2004

The peso is the currency of Mexico. It is divided into 100 centavos. The symbol used for the peso is "$", while centavos are represented by "¢".

ISO 4217: MXN (prior to 1993: MXP)

History

The peso was originally based on the Spanish silver Dollar.

Current system

On 1 January 1993 Mexico adopted a new currency, the nuevo peso ("new peso", or MXN). The new peso was equal to 1000 of the obsolete MXP pesos. The change was necessitated by the violent and massive devaluations the currency had suffered over the previous quarter century.

On 1 January 1996 the modifier nuevo was dropped from the name and new coins and banknotes – identical in every respect to the 1993 issue, with the exception of the now absent word "nuevo" – were put into circulation. The ISO 4217 code, however, remained unchanged as MXN.

The coins currently in circulation are the 5¢, 10¢, 20¢, 50¢, $1, $2, $5, and $10; $20 and $50 coins also exist and are legal tender, but they are extremely rare. Banknotes are issued in denominations of $20, $50, $100, $200, and $500; a $10 note existed during the early days of the changeover but has since been withdrawn.

These banknotes depict the following figures from Mexican history:

External link