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The nuevo peso (new peso) was the result of hyperinflation in Mexico. In 1993, Carlos Salinas de Gortari had to strip 3 zeros from the peso. The parity was $1000 = N$1.
The transition was done in three years from January 1, 1993 to January 1, 1996, when the word "nuevo" was removed from the currency, returning it to be called "peso". The parity that followed was N$1 = $1.
Confusion was avoided by making the "nuevo peso" currency almost identical to the old "peso". Both of them circulated at the same time. Later all currency that only said "peso" was removed from circulation. The Banco de México (Bank of Mexico) then issued new currency with new graphics, also under the "nuevo peso". These was followed by the current almost identical "peso" currency.
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