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GBP to MXN Exchange Rate

Currency Information on Mexican Peso - MXN— Mexican peso - $. The foreign exchange currency code for MXN represents the Mexican Peso exchange rate.

Currency Exchange Rates for Mexican Peso. Originating from the Spanish dollar, like most peso and dollar currencies, the Mexican peso is subdivided into 100 centavos and the current incarnation is a result of revaluation in 1993.

The second peso was introduced in 1993, with the name ‘nuevo peso’, however the word ‘nuevo’ was dropped from th banknotes and coins issued in 1996. The Mexican peso is now the one of the top 15 most traded units of currency.

Currency Information on MXN. Coins are available in denominations of 5, 10, 20 and 50 cents, although, only 50 cent coins are used regularly. 1, 2, 5, 10 and 20 peso coins are also available, with all but the 20 peso coins being in regular circulation. Banknotes are available in denominations of 20, 50, 100, 200, 500 and 1,000 pesos, though the 1,000 peso note is rarely seen or used.

History and development.
Peso is a Spanish word that means weight. Initially it was used to about gold weight. Initially Mexican peso was used to refer to eight coins, which made up the Spanish dollar used in America and Asia in the 19th century. It was dominated by centavos bank notes from 20 t0 1,000. However, the latter is hardly used. The coin denominations range from five to 50 cents. The Mexican peso remained the most stable currency of the 20th century throughout Latin America. The oil crisis in 1970 saw the Mexican peso inflate leading to the establishment of a new peso stabilizing the economy.

The new peso, which resulted from inflation, $1 Nuevo peso for $1000 old peso. It was used for a period of three years overriding the old bank notes. It was later left out giving the return of the original peso. In 1996 coins were produced without the word Nuevo made with a metallic bottom. The bank of Mexico launched new $1000 bimetallic coins. In 2006 September, an announcement to start new family bank notes was made. 50-peso was initiated in November 20-peso 2007 August and 1000 peso in 2008. This was part of the F series bank notes with $50 being the latest bunch to be released.

Use and validity
The Mexican peso was used as a model in making of the Chinese Yuan, the Japanese Yen and the Japanese dollar. Currently, some border areas of the United States still accept the Peso currency such as border gas stations and Walmart stores. Apart from Guatemala US and Belizean, the Mexican peso is not recognized outside the boundaries of Mexico. The Mexican peso remains among the top 15 most used unit. Since 2015 to February 12th, 2016, when the Mexican Peso when Compared to the US Dollar, its exchange rate has depreciated by 1.93% each month

Convert Pound to Mexican Peso

Convert GBP to MXN exchange rate. Buy and sell British Pounds to Mexican Peso. Convert MXN to GBP with a currency broker offering the best foreign exchange rates. Exchange GBP to MXN - Convert Pound to Mexican Peso for a Free Online Quote.

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