A Brief History of the Mexican Peso

 

Mexican Peso pic

Mexican Peso
Image: currency-history.info

Since 1986, the family-owned Delgado Travel Agency has provided a wide array of services that help its clients fulfill their travel needs and remain in contact with those in their home countries. Through its Delgado Travel II Corp., Delgado Travel Agency offers money exchange services for such currencies as the Mexican peso.

The earliest Mexican pesos borrowed design influence from the silver dollar, which was the official Spanish currency at the time. However, these coins also bore a number of unique features such as a distinguishable border and a weighted frame that made it difficult for individuals to produce counterfeits. Regarded as one of the most secure forms of currency, the peso went on to act as a model for the U.S. dollar.

During the 1700s, the peso became the standard for currency across all of North America. By 1785, it was similar in value to that of the U.S. dollar and remained an accepted form of payment in both the U.S. and Canada until the mid-1800s. Soon after, Mexico’s government made an alteration to the value of the peso, declaring that it would be worth 100 centavos.

The value of the peso has continued to shift throughout the years. Perhaps the most significant change came in the 1990s, when the Mexican government revised its entire currency system. Upon introducing the “nuevo peso,” officials valued this new currency at 1,000 of the previous Mexican pesos.

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