This might come as a surprise to you, but the American dollar (USD) and the Mexican peso (MXN) have a history that stretches far back in time. In fact, before the Declaration of Independence was written – and for a few years after – the Mexican dollar was used as the official currency in the United States. The Mexican dollar was at the time one of the most influential currencies in the world. Additionally, it was the Mexican dollar that laid the groundwork for today’s modern Mexican peso.
The USD and MXN also have a history of competing for different regions in Asia. Both currencies have actually been the official method of payment in the Philippines, Hong Kong, and Japan at different times.
Today, the relationship and exchange rate between the American dollar and the Mexican peso is stronger and more important than ever. As two of the strongest economies in North America, the two currencies have a huge impact on the economy in the region since they represent a majority of all the trading in the area. Also, many of the smaller nations in the Caribbean and Central America are in one way or another completely dependent on either the American dollar or the Mexican peso.
However, the relationship runs deeper than that. Considering that the border between Mexico and the United States is the 10th longest in the world, it comes as no surprise that the trade between the two countries is of epic proportions. Every day, millions of dollars worth of products are shipped across the border in both directions. And even though Donald Trump is trying to stop this, or somewhat minimize trading, there is no real sign of anything slowing down.
Then we have the immigration aspect. There is a large population of Mexican citizens living in the United States, both legally and illegally, and the majority of those people send money home to relatives. This phenomenon is so big that American dollars are accepted in many parts of Mexico, especially in proximity to the border in towns such as Tijuana.
Convert USD to MXN
So how do all these people using both currencies exchange dollars to pesos? And how can you check the price of 1 USD in peso? Well, it’s actually very easy. All you need is to use a currency converter.
A currency converter is a practical tool that lets you compare the value of two currencies, for example, the price of 10 dollars in pesos or vice versa. Currency converters come in many shapes and forms. They can either be offered by a brick and mortar exchange service, such as a bank, or online via an online currency converter.
Luckily enough, we offer one of the best currency converter on the market right here on BullMarketz.com. It is a great tool that can be used to convert dollar to peso, as well as many other currencies. So for whatever reason you might want to convert USD to MXN – whether it be for trading or traveling – we have the solution for you.