Mexican Peso: One of the Best Performing Currencies in the World (2024)

FAQs

Is the Mexican peso a strong currency? ›

The key to the peso's strength has been its low volatility and Mexico's record-high interest rates, which make it attractive to borrow in one currency and lend in pesos, the so-called carry trade.

Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN.

1 USD = 16.9466 MXN May 02, 2024 04:17 UTC

Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently.

The Mexican peso (MXN) is the official currency of Mexico. It is subdivided into 100 centavos.

Nearshoring: Mexico continues to benefit from ongoing foreign investment as many multinational companies shift manufacturing from Asia to countries closer to the US. Mexican GDP growth is projected to outpace the US in 2024 in data from the IMF (Mexico +2.7%/US +2.1 %) and the OECD (Mexico +2.5%/US +1.5%).

The recommendation is to use pesos in Mexico. Though some businesses may accept U.S. dollars, converting your currency to pesos is better. It ensures better exchange rates and wider acceptance. Many travelers get pesos from their home bank before their trip.

A two-bedroom house in Mexico City can range anywhere from $100,000 to $500,000, while a similar property in Tulum may cost upwards of $1 million. In Cancun, a two-bedroom home can range from $200,000 to $1,100,000, depending on the location and amenities.

The Bank of Mexico honors all genuine notes it issues, regardless of their date of emission, at present-day values.

Anyone who makes around 3500 pesos a week can live comfortably and even mantain a small family. So I'd say anything above 5000 would be rich. However this depends on the part of the country, as some places are richer or poorer than others.

Mexico: cost of a pint of beer in Mexico City 2014-2019

This statistic displays the average cost of a pint (or 500 ml) of beer in Mexico City from 2014 to 2019. In 2019, the price of a beer in Mexico City amounted to approximately 3.10 U.S. dollars, up from 2.40 U.S. dollars the previous year.

Is the Mexican peso going up or down? ›

US Dollar to Mexican Peso Exchange Rate is at a current level of 16.97, down from 17.09 the previous market day and down from 18.05 one year ago. This is a change of -0.69% from the previous market day and -5.97% from one year ago.

100 pesos goes pretty far while traveling in Mexico

Fortunately for travelers, there's plenty you can buy with this amount, from food to attractions to transportation. For example, street tacos in Mexico often hover around 12 to 30 pesos each; you can pick up anywhere from three to eight tacos, depending on pricing.

The best time for MXN trading is typically in the morning, when financial markets are open and there is a steady flow of economic news. Bid-ask spreads tend to widen during quiet periods and narrow when trading is more active.