JPY/MXN: what to know
The JPY/MXN rate shows how much MXN you get for 1 JPY. Right now, 1 JPY buys 0.1105 MXN at the mid-market rate. In the other direction, 1 MXN is worth 9.0478 JPY.
In the short term JPY is driven mainly by Bank of Japan policy and global risk appetite, while MXN responds to the US economy and capital flows.
The Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”. The Mexican Peso (MXN) is issued by Bank of Mexico. The Spanish-colonial peso and its “$” sign influenced the US dollar symbol.
Over the past 12 months the JPY/MXN rate has ranged between 0.1061 and 0.1252 — a change of -12.00% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.