CBSE ENGLISH LANGUAGE & LITERATURE

Detailed explanation-1: -The Mexican peso (MXN) is the official currency of Mexico. It is subdivided into 100 centavos. The currency was initially based on Spain’s official currency, called ‘real’, which was the Spanish dollar. The Mexican peso’s name originated from the silver 8-real coins issued by Spain in Mexico.

Detailed explanation-2: -The Mexican peso. The Mexican Peso is the legal tender in Mexico, a currency that has lived adapting to the needs of the market throughout the years. At present, the peso is issued in nine different kinds of banknotes and nine coins of different value, ranging from 5 centavos to 1, 000 pesos.

Detailed explanation-3: -Latest Currency Exchange Rates: 1 Mexican Peso = 0.0551 US Dollar.