Article snapshot taken from Wikipedia with creative commons attribution-sharealike license.
Give it a read and then ask your questions in the chat.
We can research this topic together.
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 "¢". Its current ISO 4217 code is MXN (prior to 1993 the code "MXP" was used).
Current system
On 1 January1993 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 January1996 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.
Coins
The coins currently in circulation have face values of 10¢, 20¢, 50¢, $1, $2, $5, $10, and $20. Coins worth $50 also exist and is legal tender, but it was not included in the 1996 issue and is extremely rare and largely disliked by users.(This coin must be carefully distinguished from the goldbullion Mexican 50-peso coin,which contains 37.5 grams (1.2067 troy ounces) of pure gold,and of course does not circulate at face value). Coins of 5¢ also exist, but are rare. All the coins incorporate design elements from the Aztec Calendar.
