TRY/MXN: what to know
The TRY/MXN rate shows how much MXN you get for 1 TRY. Right now, 1 TRY buys 0.3521 MXN at the mid-market rate. In the other direction, 1 MXN is worth 2.8403 TRY.
In the short term TRY is driven mainly by high inflation and central-bank policy, while MXN responds to the US economy and capital flows.
The Turkish Lira (TRY) is issued by Central Bank of Türkiye. In 2005 Türkiye removed six zeros: 1,000,000 old lira became 1 new lira. 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 TRY/MXN rate has ranged between 0.3484 and 0.4462 — a change of -21.66% 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.