Mexican peso Mexican peso The Mexican peso (sign: $; code: MXN) is the currency of Mexico. Modern peso and dollar currencies have a common origin in the 15th–19th century-Spanish dollar, most continuing to use its sign, "$". The Mexican peso is the 10th most traded currency in the world, the third most traded currency from America (after the United States dollar and Canadian dollar), and the most traded currency from Latin America. The current ISO 4217 code for the peso is "MXN"; prior to the 1993 revaluation (see below), the code "MXP" was used. The peso is subdivided into 100 "centavos", represented
Gold standard Congress on March 3, 1903. Around the same time Mexico and Japan pegged their currencies to the dollar. When Siam adopted a gold exchange standard in 1908, only China and Hong Kong remained on the silver standard. When adopting the gold standard, many European nations changed the name of their currency, for instance from Daler (Sweden and Denmark) or Gulden (Austria-Hungary) to Crown, since the former names were traditionally associated with silver coins and the latter with gold coins. Governments with insufficient tax revenue suspended convertibility repeatedly in the 19th century. The real test, however, came in the form of