Portal:Mexico/Selected article archive/September 2007

From Wikipedia, the free encyclopedia

The peso is the currency of Mexico. The symbol used for the peso is "$", basically the same as for the US dollar since this latter took it from the Spanish-Mexican currency. The current ISO 4217 code for the peso is MXN; prior to the 1993 revaluation (see below), the code "MXP" was used. The peso is subdivided into 100 centavos, represented by "¢". The name peso means weight in Spanish. After a decree adopted by the United States on 6 July 1785, the peso became the official currency of most of North America; it also became the foundation for the U.S. monetary system, at a rate of one peso to one dollar. The US dollar was not issued until 2 April 1792, but the peso continued to be officially recognized and used until 21 February 1857. In Canada, it remained a legal medium of payment until 1858. The Mexican peso also served as the model for the Straits dollar, the Hong Kong dollar, the Japanese yen and the Chinese yuan.