Economy of Mexico the country has recovered and has grown 4.2, 3.0 and 4.8 percent in 2004, 2005 and 2006, even though it is considered to be well below Mexico's potential growth. The Mexican peso is the currency (ISO 4217: MXN; symbol: $). One peso is divided into 100 "centavos" (cents). MXN replaced MXP in 1993 at a rate of 1000 MXP per 1 MXN. The exchanged rate remained stable between 1998 and 2006, oscillating between 10.20 and 11=3.50 MXN per US$, recently the Mexican peso parity took a hit under president Enrique Peña Nieto, lost in a single year 19.87% of its
Gold standard to Congress the value of a decimal system. This system would also apply to monies in the United States. The question was what type of standard: gold, silver or both. The United States adopted a silver standard based on the Spanish milled dollar in 1785. From 1860 to 1871 various attempts to resurrect bi-metallic standards were made, including one based on the gold and silver franc; however, with the rapid influx of silver from new deposits, the expectation of scarce silver ended. The interaction between central banking and currency basis formed the primary source of monetary instability during this period.