What currency is the official money of Mexico and uses the ISO code MXN?

The Mexican peso is the official currency of Mexico and uses the ISO 4217 code MXN.

The peso originated in the Spanish colonial monetary system. Its name comes from the Spanish word peso, meaning “weight,” because early pesos referred to measured amounts of precious metal. Mexico continued using the peso after independence in 1821.

The modern Mexican peso replaced the old peso at a rate of 1,000 old pesos to 1 new peso in 1993, following a period of severe inflation. The new currency is sometimes called the nuevo peso in historical contexts, but the official name is now simply the peso.

The Mexican peso is divided into 100 centavos. A common mix-up is confusing MXN with the Philippine peso, which has the separate ISO code PHP. Mexico’s central bank, Banco de México, issues the country’s banknotes and coins.