USD/MXN: what to know
The USD/MXN rate shows how much MXN you get for 1 USD. Right now, 1 USD buys 16.8935 MXN at the mid-market rate. In the other direction, 1 MXN is worth 0.0592 USD.
In the short term USD is driven mainly by Fed policy, US growth and global risk appetite, while MXN responds to the US economy and capital flows.
The US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars. 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 USD/MXN rate has ranged between 16.9113 and 18.6817 — a change of -9.48% 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.