Mexican peso exchange rate – MXN/PLN

The history of the Mexican peso dates back to the Spanish conquest of the Americas. When the Spanish discovered mineral deposits in Zacatecas and Guanajuato, they wasted no time in commencing mining operations. In 1535, they established a mint – La Casa de Moneda de México – in what is now the capital. It is the oldest institution of its kind in the Americas. It was from there that the „real de a ocho”, also known as the Spanish dollar, originated. The silver from that region was of such high purity that the coin quickly circulated around the globe. It was exchanged for goods in Europe and also found favour with Asian merchants. After Mexico regained its independence in 1821, the state continued to issue currency based on the Spanish system (1 peso = 8 reales). The real problems arose at the start of the 20th century. The Mexican Revolution completely shattered the national monetary system. Various generals began printing their own money. However, these were worthless pieces of paper that quickly led to hyperinflation. The chaos was not brought under control until 1925. The Banco de México was established at that time. It is currently the sole issuer of Mexican peso coins and banknotes. The calm did not last forever, however, as in the 1970s and 1980s the Mexican economy, which relied on oil exports, collapsed under the weight of falling oil prices. The country once again faced massive inflation. Over the last 10 years, inflation in Mexico has not exceeded 9%.

1 peso is divided into 100 centavos. Coins in common circulation include denominations of 10, 20 and 50 centavos, as well as 1, 2, 5, 10 and 20 pesos. Their design focuses on Aztec symbolism. The edges feature motifs from the Sun Stone, whilst the 10-peso coin depicts the Aztec sun god, Tonatiuhca. Furthermore, each coin naturally bears the coat of arms of Mexico – an eagle with a snake in its beak, perched on a cactus, surrounded by the inscription „Estados Unidos Mexicanos” (United States of Mexico). Banknotes come in denominations ranging from 20 to 1000 pesos. The 100-peso note features the writer Juana Inés de la Cruz. The 200-peso note features Father Miguel Hidalgo y Costilla. Meanwhile, Presidents Benito Juárez and Francisco Madero are depicted on the 500- and 1000-peso notes. The banknotes also feature cultural details, such as the ruins of the Aztec capital, Tenochtitlán. Local wildlife is also depicted, including the golden eagle, the American jaguar and the El Vizcaíno, El Pinacate and Biosfera de la Mariposa Monarca nature reserves. The peso currently has a floating exchange rate. Mexico has strong economic ties with the United States. This means that the peso dominates the Latin American continent and is one of the most frequently traded currencies amongst emerging markets worldwide.