Complete Financial Report of Mexico

Basic Information

• Country ISO Code: MX

• Official Language: Spanish

• Language ISO Code: es

• Current Official Currency: Mexican Peso

• Currency ISO Code: MXN

Historical and Current Currencies of Mexico

1. Mexican Peso (MXN) – Current Official Currency

• ISO Code: MXN

• Symbols: $ or Mex$

• Singular Name: peso

• Plural Name: pesos

• Monetary Subdivision: 1 peso = 100 centavos

• Fraction Name (singular): centavo

• Fraction Name (plural): centavos

• Initial Production Date: 1821 (after Mexico’s independence)

• Final Production Date: ongoing

• Initial Circulation Date: 1821

• Final Circulation Date: currently in circulation

• Mint: Casa de Moneda de México (founded in 1535, the oldest mint in the Americas)

• Issuing Authority: Banco de México

• Coin Denominations: 5, 10, 20, 50 centavos; 1, 2, 5, 10 pesos

• Banknote Denominations: 20, 50, 100, 200, 500, 1000 pesos

• Designs and Symbols:

  • Coins and banknotes feature historical Mexican figures, national symbols such as the golden eagle, and pre-Hispanic and modern cultural elements.

• Historical Context:

  • The Mexican peso was the first currency to use the "$" symbol, inspired by the Spanish 8 Reales coins.

  • In 1993, Mexico introduced the "nuevo peso" to combat inflation, where 1 nuevo peso equaled 1000 old pesos.

  • In 1996, the currency reverted to the name "peso" and the "$" symbol, phasing out the old banknotes.

  • The Mexican peso is the 13th most traded currency globally and the most traded in Latin America.

• Current Status: active and sole legal tender in Mexico.

• Curiosities:

  • The Casa de Moneda de México is the oldest mint in the Americas and has produced coins for several countries.

  • The Mexican peso served as a model for currencies such as the US dollar, Japanese yen, and Chinese yuan.

  • Banknotes feature historical personalities like Miguel Hidalgo, Benito Juárez, and José María Morelos.

Economic and Monetary Context

• Mexico has a diversified economy with significant industrial, agricultural, and service sectors.

• Banco de México regulates monetary policy to control inflation and ensure stability.

• The Mexican peso is widely used in international trade and has experienced periods of appreciation and depreciation, notably in the 1990s.

Summary

This report is prepared in Spanish, the official and predominant language of Mexico, based on reliable and updated sources.