Current Exchange Rate Mexican Peso To Us Dollar
As of today, the current exchange rate between the Mexican peso and the US dollar stands at 19.95 pesos to one dollar. This means that if you were to exchange 100 dollars, you would receive 1,995 Mexican pesos in return.
Factors Affecting the Exchange Rate
The exchange rate between two currencies is determined by a variety of factors, including economic conditions, political stability, and market demand. In the case of the Mexican peso and the US dollar, some of the key factors that affect their exchange rate include:
- The strength of the US economy compared to the Mexican economy
- The level of trade between the two countries
- The political climate in both countries
- The level of foreign investment in Mexico
Historical Exchange Rate Trends
The exchange rate between the Mexican peso and the US dollar has fluctuated significantly over the years. In the early 2000s, the exchange rate was around 9 pesos to one dollar. However, the value of the peso declined significantly during the global financial crisis in 2008, reaching an all-time low of 19.44 pesos to one dollar in January 2017. Since then, the exchange rate has fluctuated between 18 and 22 pesos to one dollar.
How to Exchange Mexican Pesos for US Dollars
If you have Mexican pesos that you would like to exchange for US dollars, there are a few options available to you:
- Exchange your pesos at a bank or currency exchange office
- Withdraw dollars from an ATM in Mexico
- Use a credit or debit card to make purchases in the US and have the transaction converted to dollars
What to Consider When Exchanging Currency
When exchanging currency, it is important to consider the following factors:
- The current exchange rate
- The fees charged by the exchange provider
- The security of the exchange provider
- The convenience of the exchange method
Conclusion
The exchange rate between the Mexican peso and the US dollar is subject to a variety of factors, including economic conditions, political stability, and market demand. While the exchange rate has fluctuated significantly over the years, it currently stands at 19.95 pesos to one dollar. If you need to exchange pesos for dollars, there are a few options available to you, including exchanging at a bank or currency exchange office, withdrawing dollars from an ATM in Mexico, or using a credit or debit card to make purchases in the US. When exchanging currency, it is important to consider factors such as the current exchange rate, fees, security, and convenience.