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Mexican peso

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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.

Coins

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 were not included in the 1996 issue and are extremely rare. All the coins incorporate design elements from the Aztec Calendar.

Value Coin Size & Design Metal & Weight
5¢ File:121-546.jpg 5.5 mm diameter
no milling 		stainless steel
1.58 g
10¢ File:121-547.jpg 7 mm diameter
no milling 		stainless steel
2.08 g
20¢ File:121-548.jpg 9.5 mm diameter
scalloped edge 		92% Cu, 6% Al, 2% Ni
3.04 g
50¢ File:121-549.jpg 12 mm diameter
scalloped edge 		92% Cu, 6% Al, 2% Ni
4.39 g
$1 File:121-603.jpg 11mm diameter
no milling 		Bimetallic:
outer: stainless steel
inner: 92% Cu, 6% Al, 2% Ni
3.95 g
$2 File:121-604.jpg 13 mm diameter
no milling
outer ring depicts "ring of days" from Calendar 		Bimetallic:
outer: stainless steel
inner: 92% Cu, 6% Al, 2% Ni
5.19 g
$5 File:121-605.jpg 15.5 mm diameter
no milling
outer ring depicts "ring of serpents" from Calendar		 Bimetallic:
outer: stainless steel
inner: 92% Cu, 6% Al, 2% Ni
7.07 g
$10 File:121-616.jpg 18 mm diameter
inner circle depicts Tonatiuh from centre of Calendar
Milled edge (special 2001 millennium issue has inscription on edge)		 Bimetallic:
outer: 92% Cu, 6% Al, 2% Ni
inner: 65 % Cu, 10 % Ni, 25 % Zn
11.18 g
$20 File:121-561.jpg Depicts Miguel Hidalgo
Two special 2000 variants depict:
- New fire ceremony
- Octavio Paz		 Bimetallic
$50 Heroic Cadets of Chapultepec Bimetallic

Banknotes

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