Available Currency Pairs
Did You Know?
- Banco de Mexico (BdM) is the central bank of Mexico. Its objective is to ensure price stability in the Mexican economy.
- Price setting method: the exchange rate system is described as floating, but the BdM has a policy of active intervention in the foreign exchange market. Most often, the goal is to defend the peso against the US dollar.
Features and highlights
- The only freely convertible and transferable Latin American currency, the Mexican Peso is considered extremely liquid by the markets.
- The Mexican Peso is extremely volatile because three main factors influence it: the variation of the price of energy (oil and gas), the appetite of the markets for the risk, and the political and economic relations of Mexico with the USA.
There are no special restrictions on the purchase and sale of MXN.
The IBAN format is not used in Mexico. Payment instructions must contain:
- The BIC Code of the beneficiary bank
- The full name and address of the beneficiary.
Keep In Mind
When a holiday falls on a weekend, the next business day becomes a holiday