MXN/USD: what to know
The MXN/USD rate shows how much USD you get for 1 MXN. Right now, 1 MXN buys 0.0592 USD at the mid-market rate. In the other direction, 1 USD is worth 16.9023 MXN.
In the short term MXN is driven mainly by the US economy and capital flows, while USD responds to Fed policy, US growth 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 US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars.
Over the past 12 months the MXN/USD rate has ranged between 0.0535 and 0.0591 — a change of +10.47% 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.