Know Your Mexican Peso

In 1993, notes were introduced in the new currency for 10, 20, 50, and 100 nuevos pesos. These notes are designated series B by the Bank of Mexico (Banco de México). (It is important to note that this series designation is not the 1 or 2 letter series label printed on the banknotes themselves.) All were printed with the date July 31, 1992. The designs were carried over from the corresponding notes of the old peso. In 1920, the Monetary Commission (Comisión Monetaria) issued 50-centavos and 1-peso notes whilst the Bank of Mexico (Banco de México) issued 2-pesos notes.

For the next year, he led a vast insurgent army that swept through Mexico reclaiming it from Spanish Royalist forces. He was captured and executed in 1811, a decade before independence was finally achieved. The smallest denomination of Mexican currency but the most commonly used, the 20 peso bill features the great statesman Benito Juárez, Mexico’s only indigenous president. Born into rural poverty in the southern state of Oaxaca, Juárez overcame a great many obstacles in his youth, including being orphaned at age three. As a young man, he moved to Oaxaca City to study for the priesthood but left to study law, before moving into local politics.

Pesos

This guide gives you a comprehensive overview of Mexico’s money system as well as the banks and banking services available that help to facilitate the commercial interactions you’ll need to engage with while you’re here. The entry into Mexico City is portrayed on the front of the new 20-peso note.

On the back is an image of the Sian Ka’an biosphere reserve in the southeastern state of Quintana Roo. A Mexican crocodile is swimming in the mangroves, while a crane flies overhead. Nezahualcoyotl lived from April 28, 1402 – June 4, 1472, and was a philosopher, warrior, architect, poet, and ruler of the city-state of Texcoco in pre-Columbian Mexico.

Coins

Here is the Culture Trip guide to the famous faces on Mexican money. The Bank of México announced Thursday that the newest member of the new family of banknotes had been released. The central bank had previously issued new 500, 200, 100 and 20-peso bills.

In the major cities, prices vary greatly depending on the neighborhood. The 500 peso bill is unique in that it contains two portraits, one on each side. The duo are the bohemian couple, Frida Kahlo and Diego Rivera, two of the country’s most celebrated artists and personalities. Rivera was the most famous of the Mexican muralists who were active from the 1920s, and his huge frescoes conveyed powerful social and political messages. Kahlo specialized in intimate portraits that depicted her personal physical and emotional pain.

Money In Mexico

From January 1, 1996 the “nuevo peso” was simply renamed to “peso”, and new Series D banknotes were issued identical to Series C except for the word “nuevo” dropped. From 1918 onward the weight and fineness of all the silver coins declined, until 1977, when the last silver 100-peso coins were minted. The U.S. dollar was worth MXP 2.00 from 1905 to 1929, rising afterwards until it stabilized at MXP 12.50 from 1954 to 1976.

• The cheapest way to convert your extra pesos back into US dollars is by bringing them back to the US.
• Baja is thought of as “less sophisticated” than most of mainland Mexico and counterfeiters have found the tourist cities a particularly good place to pass off their work.
• With the $200 peso note, it becomes a value to try to counterfeit.
• Knowing what is the value of the bill you are pulling from your wallet or purse at a glance can save you from being short-changed or over-paying.
• 15-16 silver reales were worth a gold escudo, and eight-real coins of 24.44 g fine silver were widely called pesos in Spanish America and dollars in England and its American colonies.

Another feature of this banknote is the increasing folio numerals. At the end of your visit to Mexico, you might find yourself with some spare peso coins, or some bills that you’d like to convert back into US dollars. We’ve already shown you the cheapest way to get pesos, but how can you exchange them back for dollars? The Mexican peso has been up and down like a see-saw this year, but the country is still relatively inexpensive for North American or European travelers. As cheerful and brightly-colored as the Mexican bills are, they still don’t shape up against the dollar, pound or euro.

Use Outside Mexico

We decided to move to the island for the warm weather, culture, connection with the US, geographic convenience, and potential tax savings. We wanted to share some of the things we wish we had known about Puerto Rico before moving here, so consider this a reflection on two years of living in Puerto Rico. If you’re traveling to Playa from outside of Mexico, you’re likely going to arrive Cancun first. In this article, we’ll show you how to get to Playa del Carmen from the Cancun airport on a budget. The previous version of the 500 pesos bill shows Diego Rivera, a Mexican muralist, and his wife Frida Kahlo, a renowned Mexican artist. Obviously, this guestimation will be different depending on where you plan to visit.

• The 50-peso denomination in polymer was launched in November 2006.
• In September 2006, it was announced that a new family of banknotes would be launched gradually.
• A portrait of José María Morelos appeared on the 1 peso and this was to remain a feature of the 1-peso coin until its demise.
• One culture shock for many who visit Mexico for the first time is how difficult it can be to find a store or vendor who has change for larger bills.
• In 1980, smaller 5-peso coins were introduced alongside 20-pesos and 50-pesos in cupro-nickel.
• The newest version of the 500 pesos bill features Benito Juárez, former Mexican president who served from 1858 until his death in 1872.

To the left side of the aqueduct is a representation of the pre-Hispanic symbol of the state of Michoacán (Mechuaca, which means “land of fish,” taken from the codex telleriano remensis). Monarch butterflies can also be observed, some printed in the main body of the polymer and others in the clear window. You even need to watch your change at supermarkets and gas stations. Unlike up north, a cashier is responsible for the shortfalls in their cash drawer and shortages are deducted from their pay.

Where To Find The Current Exchange Rate

Bronze 1- and 2-centavos, nickel 5-centavos, silver 10-, 20-, and 50-centavos and gold 5- and 10-pesos were issued. The current ISO 4217 code for the peso is MXN; prior to the 1993 revaluation, the code MXP was used. As with the U.S. dollars, Mexican money portrays the image of important people from the country’s history. In the case of Mexican pesos, the people on the bills are famous luminaries who lived before, during, and after the Spanish conquest.

It kind of hovers below and above, but about 21 pesos, which makes it really easy to convert. If you’re going to buy something that says it’s 500 pesos, all you need to do is move the decimal point over one and that will leave you with 50.

Mexican Peso Symbol And Abbreviations

Cut that in half and that’s how much it is going to be in U.S. dollars. If you’re searching for real estate, you may see “mdp” after the value.

• A Mexican dollar used as currency in Tokugawa Japan, countermarked with “Aratame sanbu sadame” (改三分定, fixed to the value of 3 bu).
• The Spanish dollar and Mexican peso served as global silver standard reserve currency, recognized all over Europe, Asia and the Americas from the 16th to 20th centuries.
• To the left side of the aqueduct is a representation of the pre-Hispanic symbol of the state of Michoacán (Mechuaca, which means “land of fish,” taken from the codex telleriano remensis).
• The 20 pesos bill showcases former Mexican president Benito Juárez.

To distinguish whether the symbol refers to dollars or pesos, you may sometimes see it presented as MX$ or the value with the letters “MN” after it, e.g. $100 MN. The MN stands forMoneda Nacional, meaning “National Currency.” These photos of Mexican bills in circulation will give you an idea of what Mexican money looks like. One peso can be split into 100 centavos and these coins come in denominations of 10, 20 and 50 centavos.

Mexico Newsletter

The 20, 50, and 100-peso notes are produced in polymer, while the other banknotes will be printed on paper. This series did not originally consider including a $20 note, since it would gradually be replaced by a coin, but a $20 note to commemorate the bicentennial of Mexican independence was issued in September 2021. Should there be a need, Banco de México will introduce a $2,000 note. 15-16 silver reales were worth a gold escudo, and eight-real coins of 24.44 g fine silver were widely called pesos in Spanish America and dollars in England and its American colonies.

Yet while the six peso bills currently in circulation are not the world’s most highly-valued tender, the various notes depict some very influential national treasures. These larger than life characters are a source of great pride to many, so it’s worth getting to know them.

The obverse had the Mexican official coat of arms and the legends “Estados Unidos Mexicanos” and “Un Peso.” The reverse showed a woman riding a horse, her hand lifted high in exhortation holding a torch, and the date. All denominations of Mexican currency vary in color, texture, and size, in an effort to deter counterfeiting and to assist the blind. The four largest bills are not only the longest but are also made out of a different material than the 50 and 20 pesos bills. The larger bills are made from paper while the 50 and 20 are plastic. Just keep in mind that if you’re making a purchase that requires getting fifty to one hundred or more pesos back in change to try to use the smallest denominations you can to help assure that you’re able to make the transaction.

Being left holding the bag, by accepting a bad $500 pesos note can zap as much as 50% of a cashier’s weekly check. When they discover their error they may often try to pass the bad note on to the next unsuspecting customer. The Spanish dollar and Mexican peso served as global silver standard reserve currency, recognized all over Europe, Asia and the Americas from the 16th to 20th centuries. They were legal tender in the United States until 1857 and in China until 1935. In 2019, the Bank of Mexico issued a new 200-peso banknote of the Series G issues, but containing a special overprint referencing the 25th Anniversary of the Bank of Mexico’s Autonomy from the Federal Government. While many touristy cities in Mexico often have restaurants that accept payment in dollars, it’s usually a bad idea to pay in anything other than the local currency. With banks, you’ll get a far better rate than anything you’ll find in Mexico in terms of exchange kiosks.