Mexican Peso

MXN

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Floating
Currency Reference Centre

Available Currency Pairs

EURMXN

View EUR

USDMXN

View USD

GBPMXN

View GBP

CHFMXN

View CHF

AEDMXN

View AED

AUDMXN

View AUD

CADMXN

View CAD

CNYMXN

View CNH/CNY

CZKMXN

View CZK

DKKMXN

View DKK

HKDMXN

View HKD

ILSMXN

View ILS

MXNHUF

View HUF

MXNTHB

View THB

NOKMXN

View NOK

NZDMXN

View NZD

PLNMXN

View PLN

RONMXN

View RON

SEKMXN

View SEK

Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: high
FX FORWARD
Maximum maturity: 24 months
Liquidity: high

Did You Know?

plus-icon

Monetary policy

  • Banco de Mexico (BdM) is the central bank of Mexico. Its objective is to ensure price stability in the Mexican economy.
  • Price setting method: the exchange rate system is described as floating, but the BdM has a policy of active intervention in the foreign exchange market. Most often, the goal is to defend the peso against the US dollar.
plus-icon

Features and highlights

  • The only freely convertible and transferable Latin American currency, the Mexican Peso is considered extremely liquid by the markets.
plus-icon

Expert opinion

  • The Mexican Peso is extremely volatile because three main factors influence it: the variation of the price of energy (oil and gas), the appetite of the markets for the risk, and the political and economic relations of Mexico with the USA.
plus-icon

Regulations

There are no special restrictions on the purchase and sale of MXN.

Important Information

PAYMENTS IN MXN TO MEXICO

The IBAN format is not used in Mexico. Payment instructions must contain:

  • The BIC Code of the beneficiary bank
  • The full name and address of the beneficiary.

Keep In Mind

PUBLIC HOLIDAYS

New Year’s Day 1 Jan
Juarez Birthday 21 Mar
Puebla Day 5 May
All souls Day 2 Nov
Our lady of Guadalupe 12 Dec
Constitution Day 5 Feb
Labour Day 1 May
Independence Day 16 Sep
Mexican Revolution 20 Nov
Christmas Day 25 Dec

When a holiday falls on a weekend, the next business day becomes a holiday

Resource PDF image

Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts

Reference guide