Mexican Peso (MXN) Exchange Rates Today
Live rates, 30-day trends, and real talk about what banks charge you for Mexican Peso.
Mid-market rate - no bank markup 200+ currencies Free
What is the Mexican Peso?
One of the most traded emerging market currencies globally. Mexico's proximity to the US and USMCA trade deal make MXN sensitive to US economic conditions.
Symbol: Mex$ ISO code: MXN Central bank: Banco de México (Banxico)
BIS ranking: 12th most traded (the 12th most bought and sold currency worldwide) Used in: Mexico
This page is a hub for all MXN exchange rates on our site. Use the converter above to check the current mid-market rate for Mexican Peso against any supported currency, or scroll down to browse individual pair pages with 30-day charts, historical data, and conversion tables.
How Mexican Peso is commonly exchanged
The Mexican Peso is one of the most traded emerging market currencies globally. USD/MXN dominates due to massive US-Mexico trade flows and remittances. Mexico's proximity to the US and the USMCA trade agreement make MXN especially sensitive to US economic conditions and cross-border policy.
Most MXN conversions pass through one of the major pairs listed below. For less common combinations, rates are computed as cross-rates through USD or EUR, which may carry a slightly wider spread.
Practical notes for Mexican Peso
Travel and card conversions
If you are spending in Mexican Peso, a card with no foreign transaction fee is typically the best option. Always choose to be charged in MXN (the local currency) at point of sale - selecting your home currency triggers Dynamic Currency Conversion, which adds an unnecessary 3-6% markup to your transaction.
Bank spreads
As a less liquid currency, MXN spreads at banks and exchanges tend to be wider than for major currencies - sometimes 4-6% at banks and up to 15% at airport counters. Online transfer services usually offer much tighter spreads for MXN.
Remittances
The MXN remittance corridor is one of the busiest globally. Dedicated remittance services often offer better rates for recurring transfers than banks. Compare not just the exchange rate, but also the delivery speed and the final amount received in MXN after all fees are deducted.
The Banco de Mexico (Banxico) and the Mexican Peso
Banco de México (Banxico) targets 3% inflation (+/- 1%) and meets eight times per year.
Policy tool: The overnight interbank interest rate. Banxico has historically maintained high real rates to support MXN and control inflation.
Key data releases: Mexican CPI, GDP, remittance data, and Banxico minutes. US economic data also moves MXN due to the close trade relationship.
Moments that shaped the Mexican Peso
Tequila Crisis (1994-95)
Mexico's peso crisis began in December 1994 when the government devalued the peso by 15%, then lost control of the rate entirely. The peso ultimately fell over 50% against USD. The US organized a $50 billion international bailout package. Source: IMF
Did you know?
- Mexico's peso was the first currency in the world to use the '$' sign, which was later adopted by the US Dollar. The symbol likely derives from the Pillars of Hercules on Spanish colonial coins.
Frequently asked questions
What is the MXN exchange rate today?
The live mid-market rate is shown in the converter above. It updates every 60 seconds during market hours (Sunday 5pm ET through Friday 5pm ET). Scroll down to see MXN rates against all supported currencies.
What is the mid-market rate for Mexican Peso?
The mid-market rate is the midpoint between wholesale buy and sell prices - the fairest benchmark before any provider adds markup. It is the rate shown on this page. Your bank or service will offer a different rate that includes their margin.
How is MXN performing this month?
Use the converter above and click through to any pair page to see the 30-day range bar, which shows where today's rate sits relative to the recent trend. The rate statistics panel shows 30-day low, high, average, and volatility.
Where can I find historical MXN rates?
Click on any pair page below and scroll to the history chart. You can view 7-day, 30-day, or 1-year history with daily rates. Use the date picker to look up a specific historical date.
What affects the value of Mexican Peso?
Central bank interest rate decisions from the Banco de México (Banxico) are typically the largest driver. Inflation data, economic growth figures, trade balances, and political stability also matter. On a day-to-day basis, scheduled economic data releases and central bank communication can cause noticeable moves.
Why do different sites show different MXN rates?
Different providers use different data sources, update at different times, and may show rates that already include their markup. The mid-market rate (shown here) is the most neutral benchmark. If a site shows a rate that is noticeably worse, that difference is likely their margin built into the number.
How is the MXN exchange rate set?
Most exchange rates are determined by supply and demand in the global forex market, where banks, funds, and corporations trade currencies 24 hours a day on weekdays. Interest rate differentials between central banks are the biggest long-term driver. No single entity "sets" the rate - it emerges from millions of transactions.
Learn more
- Banxico - Exchange Rates - Official Banco de Mexico daily rates
- World Bank - Remittance Prices - Comparison of remittance costs for the US-Mexico corridor
MXN rate statistics
Mexican Peso rate context
We compare the current Mexican Peso exchange rate against its recent trading range to help you decide whether now is a good time to convert. The live analysis updates throughout market hours.
Rate analysis updates when live data is available.
Forex Market Hours
The forex market is open 24 hours a day, five days a week. Trading passes between these major financial centers as the world turns.
| Market | Timezone | Local Time | Status |
|---|---|---|---|
| 🇦🇺 Sydney | AEST | — | — |
| 🇯🇵 Tokyo | JST | — | — |
| 🇬🇧 London | GMT/BST | — | — |
| 🇺🇸 New York | ET | — | — |
All MXN Currency Pairs
Live exchange rate pages for Mexican Peso against every supported currency.