MXN/NZD: what to know
The MXN/NZD rate shows how much NZD you get for 1 MXN. Right now, 1 MXN buys 0.1013 NZD at the mid-market rate. In the other direction, 1 NZD is worth 9.8686 MXN.
In the short term MXN is driven mainly by the US economy and capital flows, while NZD responds to soft-commodity prices and 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 New Zealand Dollar (NZD) is issued by Reserve Bank of New Zealand. The New Zealand dollar is nicknamed the “Kiwi”, after the bird on the $1 coin.
Over the past 12 months the MXN/NZD rate has ranged between 0.0910 and 0.1014 — a change of +11.39% 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.