MXN/JPY: what to know
The MXN/JPY rate shows how much JPY you get for 1 MXN. Right now, 1 MXN buys 9.0456 JPY at the mid-market rate. In the other direction, 1 JPY is worth 0.1106 MXN.
In the short term MXN is driven mainly by the US economy and capital flows, while JPY responds to Bank of Japan policy and global risk appetite.
The Mexican Peso (MXN) is issued by Bank of Mexico. The Spanish-colonial peso and its “$” sign influenced the US dollar symbol. The Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”.
Over the past 12 months the MXN/JPY rate has ranged between 7.9899 and 9.4272 — a change of +13.64% 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.