Peso Mexicano to Dollar: The Ultimate Guide (2023)

The peso mexicano (MXN) is the official currency of Mexico. It is the 10th most traded currency in the world and is widely used in Latin America. The peso is divided into 100 centavos.

The exchange rate between the peso and the US dollar has fluctuated significantly over the years. In 2000, 1 USD was worth about 9.5 MXN. By 2009, the exchange rate had fallen to around 1 USD = 13.5 MXN. In recent years, the exchange rate has been relatively stable, hovering around 1 USD = 19.5 MXN.

Factors Affecting the Peso Mexicano to Dollar Exchange Rate

Several factors affect the exchange rate between the peso and the US dollar, including:

• Economic growth: When the Mexican economy grows, the demand for the peso increases, which can lead to an appreciation of the peso against the dollar.
• Interest rates: If Mexican interest rates are higher than US interest rates, investors will be more likely to invest in Mexico, which can lead to an appreciation of the peso.
• Inflation: If inflation in Mexico is higher than inflation in the US, the peso can depreciate against the dollar.
• Political stability: Political instability in Mexico can lead to a decrease in investor confidence, which can lead to a depreciation of the peso.
• Oil prices: Mexico is a major oil producer. When oil prices rise, the peso tends to appreciate against the dollar.

How to Convert Peso Mexicano to Dollar

There are several ways to convert peso mexicano to dollar, including:

• Exchange bureaus: Exchange bureaus are located in airports, banks, and other public places. They offer a convenient way to exchange currency, but they typically charge a fee.
• Banks: Banks also offer currency exchange services. They typically offer competitive rates, but they may require you to open an account.
• Online currency exchanges: There are several online currency exchanges that allow you to convert currency from the comfort of your own home. These exchanges typically offer competitive rates and low fees.

Tips for Getting the Best Exchange Rate

• Compare rates: Before exchanging currency, compare rates from different providers to ensure you get the best deal.
• Use a currency converter: A currency converter can help you calculate how much money you will receive in exchange for your currency.
• Avoid exchanging currency at airports: Airports typically have the worst exchange rates.
• Consider using a credit card: Credit cards typically offer competitive exchange rates, and they are convenient and secure.

Peso Mexicano to Dollar Exchange Rate Tables

The following tables show the exchange rate between the peso mexicano and the US dollar for different periods.

Peso Mexicano to Dollar FAQs

Q: What is the current peso mexicano to dollar exchange rate?
A: As of March 2023, the exchange rate is approximately 1 USD = 19.75 MXN.

Q: Where can I exchange peso mexicano to dollar?
A: You can exchange currency at exchange bureaus, banks, and online currency exchanges.

Q: How can I get the best exchange rate?
A: Compare rates from different providers, use a currency converter, and avoid exchanging currency at airports.

Q: Can I use a credit card to exchange currency?
A: Yes, credit cards typically offer competitive exchange rates and are convenient and secure.

Q: What factors affect the peso mexicano to dollar exchange rate?
A: Several factors affect the exchange rate, including economic growth, interest rates, inflation, political stability, and oil prices.

Q: How can I track the peso mexicano to dollar exchange rate?
A: You can track the exchange rate using a currency converter or financial news website.