![]() Let’s say you have $5,000 MXN and would like to figure out how much in U.S. dollars that you have to spend on your trip. The resulting number will show you the amount of U.S. Once you know that information, multiply the amount you have in pesos by the current exchange rate. At the time of writing, 1 MXN is worth 0.05 USD. In order to do this, you need to know the current exchange rate. The other option is to do the calculation manually using a simple mathematical formula. Individual merchants may also charge supplemental fees if you ask them to convert the price of an item to your home currency at checkout. For instance, credit card companies and ATM networks usually charge a 1% conversion fee on all foreign transactions. Keep in mind that exchanging currency often comes with added fees that a conversion calculator won’t be able to predict. Since exchange rates fluctuate on a daily basis, using a calculator can ensure your math is correct. Using a currency conversion calculator is often the easiest way to get an estimate when you’re converting currency. You can either make the conversion using a calculator or do it by hand. These are basically some of the reasons that define the importance that the US dollar has on the Mexican economy and especially the importance of knowing their current value.Via Wise website How to Convert MXN to USDĬalculating a conversion of pesos to dollars is fairly simple. The dollar is also the official currency in which the Bank of Mexico saves its international reserves. In this website, we show the price of the dollar in Mexico’s leading banks, updating its value every 30 minutes to keep you well informed about the current dollar value or commonly called "Dollar Today", the banks that we show are:īanamex, CitiBanamex, Santander, Monex, Banjercito, Banco de Mexico, HSBC, Banorte, BX+,īanco Azteca, Inbursa, Scotiabank, Banco del Bajio, Bancomer, IxeĪs extra information, it is noteworthy that the stock market of all countries use the dollar as an element on which various transactions are measure and guarantee. The dollar’s role in the Mexican economy is clearly one of the main elements of which depends on stability, and that is the main currency in which remittances are received from the United States, representing the second largest source of income in the country. The importance of this currency, especially lies to Mexico that this country belongs to the FTA (Free Trade Agreement) which is composed of Mexico, USA and Canada, and also 80% of its exports are to the United States, this being the main reason, which is important to know the price of the dollar and its behavior in the currency conversions. Since a long time the dollar is and remains the most widely used currency in the world economy, some countries like Panama, El Salvador and Ecuador adopted the US dollar as its official currency. In the international standard ISO 4217 is defined as USD (United States Dollar) or what is the same, "American Dollar". The US dollar is the most important currency in the world. ![]() ![]() If you are going to buy, your best option is: Banorte in $16.10 pesos per dollar. If you are going to sell, your best option is: Scotiabank in $18.20 pesos per dollar. ![]()
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