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LOCAL CURRENCY IN MEXICO

Need to know waht is the local currency in Mexico? The local currency in Mexico is called Peso.

The Mexican Peso is issued and managed by the Bank of Mexico. To find out the current currency exchange rates for Peso to other major currencies of the world, click on foreign currency rates.

Mexican Currency Information
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The currency used in Mexico is called as the Peso. This currency is denoted with the currency sign $ or Mex$ and the ISO 4217 Code for the Mexican Peso is MXN (. The Peso, is the official currency of the Mexico . It is divided into 100 smaller units called centavo.

The constitution of Mexico provides that the Mexico government shall have the power to print the Mexican Peso and centavo coins to be used as a legal tender in Mexico. The Mexican Peso bank notes and Centavo coins are both designated as "legal tender" in payment of debts.

The Mexican Peso bill uses the decimal system, consisting of 100 equal units.

The symbol $ or Mex$, usually written before the numerical amount, is used for the Mexican Peso.

Currently printed bank notes denominations are $20, $50, $100, $200, $500 $10, $1000 and the coins are minted in the denominations of 10¢,20¢,50¢, $1, $2, $5, $10 5¢, $20, $50, $100.

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How Does Balance of Trade and Investment Affect the Value of the Mexican Peso
Financial analysts regularly cite the balance of trade and investment in Mexico as the most important influence on the value of the Peso. The difference between what the Mexico exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Peso exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Peso exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Mexican Peso.
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