What is the currency of Mexico?

The Mexican Peso is the currency of Mexico. It is symbolised by the dollar sign "$", which is the same sign as US dollars. The peso is made up of 100 centavos, represented by "¢". As of 26 September 2021, the peso's exchange rate was $23.51 per euro and $20.06 per U.S. dollar.

The Spanish word peso means "weight" and was originally used in reference to 'pesos oro' (gold weights) or 'pesos plata' (silver weights). Several other Spanish-speaking countries use pesos, such as Argentina, Chile, Colombia, Cuba, Dominican Republic, the Philippines, and Uruguay. The exchange rate differs between countries.

The first Mexican pesos and centavos were minted in 1863. Until then, countries under Spanish control used the colonial Real. A couple of years later, pesos were minted with a portrait of Emperor Maximilian on one side. Maximilian was the ruler of the Second Mexican Empire from 1864 to 1867.

In January 1993, the Bank of Mexico introduced a new currency, the 'nuevo peso' (new peso). One new peso was equal to 1000 old pesos. The word 'nuevo' has since been removed from the name of the currency. The reason for this change in currency was the elevated rates of inflation in Mexico during the 1980s.