The Mexican peso (currency code: MXN) is the official currency of
Mexico and the 8th most traded currency in the world. Each peso comprises 100 centavos. Its symbol is also the
$ as both the US dollar and the Mexican peso have their origins in the Spanish dollar. The $ sign is
believed to have come about due to the overwriting of an S over the letter P.
The word peso comes from the Spanish for weight and is ultimately derived from the Latin pensum
meaning "to hang". The current peso was introduced in mid-1800s. Prior to that, a peso (the Spanish dollar) was
equivalent to 8 reals (the previous currency), and therefore known as "pieces of eight".
