Mexican Peso (sign: $ ; code: MXN ) is the Mexican currency. Modern pesos and dollar currencies have the same origins in the 19th-19th century Spanish dollars, most continue to use the sign, "$". The Mexican peso is the most heavily traded currency in the world, the third most-traded currency originating in America (after the US dollar and Canadian dollar), and the most traded currency originating in Latin America.
The current ISO 4217 code for peso is MXN ; before the 1993 revaluation (see below), the code MXP is used. Pesos are divided into 100 centavos , represented by "Ã, Â ¢". On April 5, 2018, the peso exchange rate was $ 22,2377 per euro and $ 18,1081 per US dollar.
Video Mexican peso
Etymology
This name was first used in reference to peso oro (gold weight) or pesos plata (silver load). Spanish word peso means "heavy". Compare the British pound sterling. Maps Mexican peso
History
First peso
Pesos are the names of the original eight coins issued in Mexico by Spain. This was the so-called Spanish dollar or eight pieces in wide circulation in America and Asia from the summit of the Spanish Empire to the early 19th century (the United States received the Spanish dollar as a legitimate means of payment until the Coinage Act of 1857).
In 1863, the first edition was made of coins in centavos, worth one hundredth of a peso. This was followed in 1866 by coins denominated "one peso". Coins in currencies continued to be issued until 1897. In 1905, the gold content of pesos was reduced by 49.3% but the silver content of the peso remained unchanged (the coinage of subsidiaries was reduced). However, from 1918 onwards, the weight and smoothness of all silver coins declined, until 1977, when the last 100-peso silver coins were printed.
New peso
Throughout much of the 20th century, the Mexican peso remains one of the more stable currencies in Latin America, as the economy does not experience the period of hyperinflation common in other countries in the region. However, after the oil crisis of the late 1970s, Mexico failed to repay its foreign debt in 1982, and as a result the country suffered from severe capital flight cases, followed by several years of inflation and devaluation, to a government economic strategy called "Growth Pact Economy and Stability " (Pacto de estabilidad y crecimiento econÃÆ'³mico, PECE) was adopted under President Carlos Salinas. On January 1, 1993, the Bank of Mexico introduced a new currency, nuevo peso ("new peso", or MXN), written "N $" followed by numerical numbers. One new peso, or N $ 1.00, equals 1000 pesos of obsolete MXP.
On January 1, 1996, nuevo modifiers were dropped of names and new coins and banknotes - identical in all respects to the 1993 problem, with the exception of a now nobody's "nuevo" word - put into circulation. The ISO 4217 code, however, remains unchanged as MXN.
Thanks to the stability of the Mexican economy and the growth of foreign investment, the Mexican peso is now among the 15 most traded currency units.
Coins
19th century
The first coin of the peso currency was 1 centavo printed in 1863. Emperor Maximilian, second ruler of the Mexican Empire from 1864-1867, scored the first coin with their "peso" legend. The portrait is at the front, with the legend of "Maximiliano Emperador;" instead showing the imperial arms and legends of "Imperio Mexicano" and "1 Peso" and its date. They were beaten from 1866 to 1867.
The New Mexico Republic continues to attack 8 realist sections, but also starts printing coins in centavos and pesos. In addition to coin 1 centavo of copper, silver (0.903 refined) coins of 5, 10, 25 and 50 centavos and 1 peso were introduced between 1867 and 1869. Gold 1, 2½, 5, 10 and 20-peso coins were introduced in 1870. Obverses featured ' eagles' Mexico and legend "Republica Mexicana." The opposite of larger coins shows a pair of scales; smaller coins, denominations. One peso coins were made from 1865 until 1873, when 8 reales coins resumed production. In 1882, cupro-nickel coins 1, 2 and 5 centavos were published but they were only printed for two years. 1 peso was reintroduced in 1898, with a Phrygian hat, or freedom hat design carried from 8 reales.
20th century
In 1905 a monetary reform was carried out in which the gold content of pesos was reduced by 49.36% and silver coins (with the exception of 1-peso) were reduced to token problems. Bronze 1 and 2 centavos, 5 centavos nickel, 10 silver, 20, and 50 cents, 5- and 10 pesos gold are excluded.
In 1910, a new peso coin was issued, the famous Caballito, considered one of Mexico's most beautiful coins. The front has an official Mexican emblem (an eagle with a snake in its beak, standing on a cactus plant) and legend "Estados Unidos Mexicanos" and "Un Peso." The opposite shows a woman riding a horse, her hands raised high in the insistence of holding the torch, and the date. It was printed in.903 silver from 1910 to 1914.
Between 1917 and 1919, the gold currency expanded to include 2, 2, ½, and 20-pesos. However, the problem of the gold circulation ceased in 1921. In 1918, the peso coins were lowered, thus in line with the new 10-, 20-, and 50-centavo silver coins. All printed in.800 fineness with standard 14.5 g to peso. The freedom hat design, already in other silver coins, was applied to the peso. Another damage in 1920 reduced the subtlety to 0.720 with 12 g of silver to the peso. The 10- and 20-centavo bronze coins were introduced in 1919 and 1920, but the coins of the denomination were also printed silver until 1935 and 1943, respectively.
In 1947, a new edition of silver coins was struck, with 50-centavo and 1-peso in fineness.500 and a new 5-peso coin in.900 fineness. A portrait of JosÃÆ' Â © MarÃÆ'A Morelos appears on 1 peso and this remains a feature of the 1-peso coin until its destruction. The silver content of this series is 5.4 g for the peso. This was reduced to 4 g in 1950, when 300 300- and 50-centavo smoothness, and 1-peso coins were printed simultaneously.720 smoothness of 5 pesos. A new portrait of Morelos appeared on 1 peso, with Cuauhtemoc on 50-centavo and Miguel Hidalgo on a 5-peso coin. No references are made to silver content except on 5-peso coins. During this period 5 pesos, and to a lesser extent, 10-peso coins are also used as vehicles for occasional warning strikes.
In 1955, 50-centavos bronze was introduced, along with a smaller 5-peso coin and a new 10-peso coin. In 1957, a new 1-peso coin was published in.100 silver. The series contains 1.6 g silver per peso. A special 1-peso printed in 1957 to commemorate Benito JuÃÆ'¡rez and the constitution of 1857. This is the last silver peso. The 5-peso coins are now weighed 18 grams and still 0.720 silver; 10-peso coins weighing 28 grams and being at 0.900 silver.
Between 1960 and 1971, new coins were introduced, consisting of brass 1 and 5 cents, 10-, 25-, and 50-centavos, 1-, 5-, 10-peso, and 25-peso silver snacks (excluded only year 1972). In 1977, 100-peso silver was excreted for circulation. In 1980, smaller 5-peso coins were introduced with 20-peso and (from 1982) 50-pesos in cupro-nickel. Between 1978 and 1982, the size of the coin for 20 centavos and above was reduced. The base metals 100, 200, 500, 1000, and 5000 peso coins were introduced between 1984 and 1988.
Nuevo peso
As mentioned above, nuevo peso (new peso) is the result of hyperinflation in Mexico. In 1993, President Carlos Salinas de Gortari removed three zeros from pesos, creating a $ 1 parity of New Pesos for $ 1000 from the old one.
The transition was done either by getting people to trade their old records, and by removing old records from circulation in the bank, over a three-year period from 1 January 1993 to 1 January 1996. At that time, the word "nuevo" was removed from all new currencies which is being printed and the note "nuevo" is discontinued from circulation, thus returning the currency and records into "pesos" again.
Confusion is avoided by making the currency nuevo pesos almost identical to the old "peso". Both are circulating at the same time, while all the currencies that simply say "peso" have been removed from circulation. The Bank of Mexico then issued a new currency with new charts, also under "nuevo peso". This is followed by the current "peso" currency, almost identical, without the word nuevo .
In 1993, the new currency coins (dated 1992) were issued in denominations of 5, 10, 20 and 50 centavos, 1, 2, 5, 10, 20 and 50 nuevos pesos. The 5 and 10 centavos are printed in stainless steel and 20 and 50 centavos in aluminum bronze. The peso nuevo denomination is bimetal, with 1, 2 and 5 nuevos pesos having aluminum center aluminum and stainless steel rings, and 10, 20 and 50 nuevos pesos having 0.925 silver centers and aluminum bronze rings.
In 1996, the word Nuevo was removed from the coin. 10 new pesos were introduced with base metal replacing silver center. The 20, 50, and 100-peso coins are the only coins currently circulating in a world that contains silver.
In 2003, Banco de Mexico embarked on a staged rollout of a new $ 100 bimetallic coin series. This number is 32 - one for each of the 31 states, plus the Federal District. While the front of this coin bearing the traditional Mexican emblem, their reversals show each component state symbol. The first countries celebrated in this way are Zacatecas, YucatÃÆ'¡n, Veracruz, and Tlaxcala. In circulation they are unbelievably rare, but their new value offsets the discomfort most users feel because it has large sums of money in a single coin. Although the Bank has tried to encourage users to collect full sets of these coins, issuing a special display folder for the purpose, the high costs involved have worked against them. This bullion version of the coin is also available, with an outer ring made of gold instead of aluminum bronze.
The coins commonly encountered in circulation have a face value of 50 Ã, Â ¢, $ 1, $ 2, $ 5, and $ 10. Coins 5Ã, Â ¢, 10Ã, Â ¢ and 20Ã, Â ¢ are rare because of their small value. Small commodities are priced in multiples of 10 Â ¢, but stores may choose to round the total price to 50 Â ¢. There is also a tendency for supermarkets to require customers to collect a total of up to 50Ã, Â ¢ or 1 peso to automatically donate the difference to the charity. Coins $ 20, $ 50 and $ 100 are rarely seen in circulation because of the widespread use of paper money that is lighter than the same denomination as well as their metal grades.
Banknote
First peso
The first banknotes issued by the Mexican state were produced in 1823 by Emperor Agustin de Iturbide in denominations of 1, 2 and 10 pesos. Similar problems were made by the republican government in the same year. Note Ten pesos were also issued by Emperor Maximilian in 1866 but, until the 1920s, the production of banknotes was entirely in the hands of private banks and local governments.
In 1920, the Monetary Commission ( ComisiÃÆ'³n Monetaria ) issued 50-centavos and 1-peso notes while Bank of Mexico (Banco de MÃÆ'Â xico ) issued 2-peso notes. From 1925, the Bank issued banknotes for 5, 10, 20, 50 and 100 pesos, with 500 and 1000 pesos following in 1931. From 1935, the Bank also issued 1-peso notes and, from 1943, 10,000 pesos.
The production of 1-peso notes stopped in 1970, followed by 5 pesos in 1972, 10 and 20 pesos in 1977, 50 pesos in 1984, 100 pesos in 1985, 500 pesos in 1987 and 1,000 pesos in 1988. 5,000-peso records were introduced in 1981, followed by 2,000 pesos in 1983, 20,000 pesos in 1985, 50,000 pesos in 1986 and 100,000 pesos in 1988.
AA Series
Serial A
Series B
In 1993, records were introduced in the new currency for 10, 20, 50, and 100 pesos nuevos. This record is assigned series B by the Bank of Mexico ( Banco de MÃÆ' Â © xico ). (It is important to note that the marking of this series is not a 1 or 2 letter serial label printed on the banknote itself.) All printed on 31 July 1992. The design was taken from the corresponding note of the old peso.
Series C
All Series C records have new designs and were printed by December 10, 1993, but they were not issued until October 1994. The word "nuevos" remains and banknotes in denominations of 500 pesos nuevos are added. The 500 nuevos peso note is worth over US $ 100 when it was introduced, but its value dropped to nearly $ 100 by the end of 1994.
D Series
The next series of banknotes, the designated D series, were introduced in 1996. This is a modified version of the C series with the word "nuevos" dropped, the bank title changed from "El Banco de MÃÆ'Ã… © xico" to "Banco de MÃÆ'Ã… © xico "and the" pagarÃÆ'¡ a la vista al portador "clause ( Pay in view to carrier ) is deleted. There are several print dates for each denomination. In 2000, a series of warnings were issued which were like the D series except for the additional text "75 aniversario 1925-2000" under the bank title. This refers to the 75th anniversary of the establishment of the Bank. While the D series includes money $ 10 and is still a valid payment instrument, they are no longer printed, are rarely seen, and coins are more common. A $ 10 note is rarely found in circulation.
Starting from 2001, every denomination in this series is gradually upgraded. On October 15, 2001, in an effort to combat counterfeiting, the Series D record of 50 pesos and above was further modified by the addition of colored strips. On a note of 100 pesos and above, the denominations are printed with color-shifting inks in the upper right corner.
On September 30, 2002, a new $ 20 note was introduced. New $ 20 is printed on a durable polymer plastic rather than paper. A new $ 1000 bill was issued on November 15, 2004, which is worth about US $ 88 at the time of introduction. Bank of Mexico refers to $ 20, $ 50, and $ 1000 records during this wave of change as "D1 series".
On April 5, 2004, the Chamber of Deputies approved the initiative to demand that the Bank of Mexico produce on January 1, 2006 records and coins identifiable by the blind population (estimated at more than 750,000 blind people, including 250,000 completely blind).
On December 19, 2005, $ 100, $ 200, and $ 500 of the MXN paper money including inflated, tactile patterns (like Braille), were meant to make them differentiated for people with visual impairments. This system has been questioned and many requests are being replaced by the actual Braille so that it can be used by foreigners unfamiliar with these symbols. Banco de MÃÆ'Ã… © xico, however, said they will continue to issue symbol bills.
The generated and tactile patterns are as follows:
Series F
In September 2006, it was announced that a new banknote family would be rolled out gradually. Denomination of 50 pesos in polymer was launched in November 2006. Note 20 pesos was launched in August 2007. Notes 1,000 pesos were launched in March 2008.
$ 200 was released in 2008, and $ 100 and $ 500 were released in August 2010. The family is Series F. A revised $ 50 record, with enhanced security features released on May 6, 2013. This record is part of the family F Series banknotes issued by Banco de Mexico (such as Type F1).
banknote warning
On September 29, 2009, the Bank of Mexico launched a set of banknote warnings. The 100-peso denominational note commemorates the one hundred from the Early Mexican Revolution (1910-1920). The 200-peso fraction note commemorates the two centuries warning from the beginning of the Mexican War for Independence that began in 1810. There was a printing error in the $ 100 peso note, in small letters (almost invisible, because they were very small and the same color as the line waving), near the top right corner, just above the transparent corn, from the side of "La RevoluciÃÆ'³n contra la dictadura Porfiriana", it is written: "Sufragio electivo y no reelecciÃÆ'³n", this is supposed to be a quote for famous phrase Francisco I. Madero, but he says "Sufragio efectivo no reelecciÃÆ'³n" (Valid Voting Rights, No Re-election). President Felipe CalderÃÆ'³n made a newspaper announcement in which he apologized for this, and said that the record would continue to circulate, and that they would defend their value.
Likewise, a 100 peso paper bill commemorating 100 years of enactment of the Mexican Constitution was inaugurated in 2017.
Use outside Mexico
Spanish dollars of the 18th and 19th centuries and Mexican pesos are widely used in the early United States. On July 6, 1785, the value of the United States dollar was determined by a decision to roughly correspond to the Spanish dollar. Both are based on silver coin content. The first US dollar coins were not issued until April 2, 1792, and the peso continued to be officially recognized and used in the United States, along with other foreign coins, until February 21, 1857. In Canada, it remained legitimate, along with other foreign silver coins, until 1854 and continue to circulate beyond that date. The Mexican peso also serves as a model for the Straits dollar (now Singapore/Brunei Dollar), Hong Kong dollars, Japanese yen and Chinese yuan. The term Chinese yuan refers to Spanish round dollars, Mexican pesos and 8 other realist silver coins used in China during the 19th and 20th centuries. The Mexican peso was also briefly a legitimate means of payment in the 19th century Siam, when government candy was unable to accommodate the sudden inflows of foreign traders, and was exchanged at a rate of three pesos to one Thai baht.
The modern usage
Some companies in the US border region accept Mexican pesos as currency, such as Walmart stores at certain borders, certain border gas stations such as Circle K, and La Bodega supermarkets in San Ysidro on the Tijuana border. In 2007, Pizza PatrÃÆ'³n, a pizza chain chain in the southwestern US, began accepting the currency, sparking controversy in the United States. In addition to the border cities of the US, Guatemala, and Belize, Mexican pesos are generally not accepted as currency outside of Mexico.
See also
- Peso
- Mexican economy
- The 1994 economic crisis in Mexico
- Gold and Silver Libertad Mexican Coins
References
External links
- Mexican Banknotes, a description of Mexican banknotes from the Bank of Mexico was released from 1925 to the present.
- Banknotes and coins on the site of Banco de MÃÆ' Â © xico (Central Bank of Mexico)
- Historia de la moneda y del billete en MÃÆ' Â © xico , currency history of Banco de MÃÆ' Â © xico
- The historic, modern Mexican coin image
- Mexico's historic paper money (in English) (in German)
Source of the article : Wikipedia
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