Mexican peso. History and useful information about the currency of Mexico

Mexico is famous for its magnificent resorts, many attractions and one of the oldest monetary units in the world. This country attracts many tourists from all corners of the globe. Going to Mexico, it will not be superfluous to find out about the local currency - the Mexican peso.

History of the Mexican peso

The history of the Mexican peso dates back to the 15th century, when silver coins appeared on the territory of today's Mexico. However, after the conquest of territories in the New World by Spain, a single currency - real was put into circulation here. This monetary unit was the main payment instrument in Mexico until 1821, when the state gained independence. After receiving sovereignty, the Mexican peso returned to circulation. Since 1825, the National Bank of Mexico, which was created in the same year, has been issuing pesos.

It will be by the way to say that the first notes of the Mexican peso appeared a little earlier, namely in 1813. Then began to print banknotes on cardboard, which was caused by a shortage of silver from the colonialists of the Mexican territories.

"Golden fever"

By the beginning of the 20th century, Mexico had become one of the centers of gold mining. Backed up by the impressive reserves of this precious metal, the Mexican peso occupies a major place in Latin America and serves as the currency of the various states of the region.

It should be noted that even the First World War did not cause any significant damage to the Mexican peso course, which demonstrated enviable stability until 1970. "Golden" pesos were put into circulation in 1904. They replaced silver coins and remained a legal payment instrument until 1931, after which they were abolished. The legislative act of July of that year abolished the circulation of gold pesos and introduced paper notes into circulation. This decision was met with resistance from Mexican citizens. They believed that using paper money is inconvenient. In addition, unlike gold coins, peso banknotes could not be exchanged for gold.

The oil crisis in the last quarter of the 20th century hit the Mexican economy painfully, and the government of the state was forced to declare a default. The course of the Mexican peso did not stay aloof from these events. Inflationary processes developed with such rapidity that the National Bank simply did not have time to print new money. The Mexican peso was able to stabilize only in 1993 due to the denomination of the national currency. The new monetary units were exchanged for the old sample in the ratio 1 to 1000.

Mexican currency in our days. Information for tourists

Tourists and travelers should bear in mind that on the territory of airports, hotels, resorts, large shopping centers and other infrastructure facilities, one can use plastic cards of the world's major payment systems. Mexico is not just a big country. This state is included in the G20. Here at a high level is the development of technology. But at the same time, we should not forget that it is always necessary to have cash with you. For example, to buy souvenirs in the market or in a small private shop.

Most branches of Mexican banks operate exclusively on weekdays from 9:00 to 18:00. True, in the resort areas of the country there are institutions in which it is possible to cash out or exchange cash before midnight. In addition, you can buy the desired currency in the exchange offices, which are marked with the inscription casas de cambio.

Mexican peso banknotes

Many visitors, visiting Mexico, face one curious feature. The fact is that the National Bank of this country issues peso banknotes of two series. On paper bills depicted images of various outstanding personalities that made Mexico famous.

For example, for 500 pesos of the D series, General Ignacio Zaragoza is depicted, and on the banknote of the same denomination of the F series - artist Diego Rivera. To date, the Mexican peso is worth ten, twenty, fifty, one hundred, five hundred and one thousand. In addition, coins are used in five, ten, twenty and fifty centavos (change money).

Mexican Peso Course

The most profitable for tourists quotes at the airports. Therefore, it is advisable to stock up in advance with the necessary amount of cash pesos in the event that the plans include rest in a small remote settlement. It should be noted that in Mexico, US dollars are accepted as a payment instrument almost everywhere. True, the conversion conditions are not very profitable. At the moment, the Mexican peso against the US dollar is traded at the rate of 20.89 to 1.

In conclusion, it should be emphasized that in Mexico almost all goods and services are subject to VAT at a rate of 15%. This also applies to paying for cellular services or renting accommodation. Therefore, do not be surprised at the difference between the real value of goods and services and declared on the price tags. The Mexican peso to the ruble is traded at the rate of 1 to 0.35.