# peso

> currency of Mexico

**Wikidata**: [Q4730](https://www.wikidata.org/wiki/Q4730)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Mexican_peso)  
**Source**: https://4ort.xyz/entity/peso

## Summary
The peso is the official currency of Mexico, issued by the Bank of Mexico. It is a fiat currency with the ISO code MXN and is subdivided into 100 centavos. The peso has a rich history, evolving from colonial Spanish silver coins to modern banknotes and digital forms, and serves as a key economic indicator for Mexico.

## Key Facts
- **Currency Code**: MXN (Mexican peso).
- **Subdivision**: 1 peso = 100 centavos.
- **Issuer**: Bank of Mexico (established August 25, 1925).
- **Classification**: Subclass of `medium of exchange`, `unit of measurement`, `money`, and `means of payment`.
- **Related List**: Linked to the `list of currencies`.
- **Unicode Symbol**: 💵.
- **Taxonomy**: Dewey Decimal Classification `332.4` (Finance).
- **Aliases**: Includes `MX$`, `Mexican centavo`, `Mexican nuevo peso`, `Mexican new peso`.
- **Wikipedia Presence**: Available in 166 languages.
- **Identifiers**: GND ID `4064147-8`, BabelNet ID `00024507n`, Freebase ID `/m/01q7l`.
- **Related Entities**: Connected to `Mexico` (country), `Bank of Mexico` (central bank), and `currency` (general class).
- **Start Time**: Officially adopted as the national currency on January 1, 1993.
- **Manufacturer**: Produced by the Bank of Mexico.
- **Sitelink Count**: 66 (Wikipedia language editions).

## FAQs
**What is the peso's role in Mexico's economy?**
The peso is the primary medium of exchange in Mexico, used for all financial transactions, including trade, wages, and investments. It is regulated by the Bank of Mexico, which manages monetary policy and ensures economic stability.

**How is the peso subdivided?**
The peso is divided into 100 centavos, with coins and banknotes issued in denominations reflecting this subdivision. For example, 1 peso equals 100 centavos, and coins like the 50 centavo piece are widely used.

**What organizations is the peso managed by?**
The peso is issued and regulated by the Bank of Mexico, which serves as Mexico's central bank. It is also part of the broader global financial system, including international trade agreements like USMCA.

**What are the main forms of the peso?**
The peso exists in physical forms (coins and banknotes) and digital forms, including electronic payments and central bank digital currencies. It is a fiat currency, meaning its value is determined by government policy rather than a physical commodity.

**How does the peso compare to other currencies?**
The peso is distinct from other currencies like the US dollar or euro, as it is specific to Mexico and regulated by the Bank of Mexico. It has its own ISO code (MXN) and is part of Mexico's broader economic and cultural identity.

## Why It Matters
The peso is the backbone of Mexico's financial system, enabling trade, investment, and economic stability. Its issuance and regulation by the Bank of Mexico ensure monetary policy coherence, while its role in international trade agreements like USMCA highlights Mexico's economic significance in North America. The peso's evolution from colonial silver coins to a modern fiat currency reflects Mexico's historical and economic development, making it a vital component of the country's identity and global economic landscape.

## Notable For
- **Monetary Authority**: The peso is managed by the Bank of Mexico, which is the sole authority responsible for its issuance and regulation.
- **Economic Stability**: The peso's stability is crucial for Mexico's economic growth, influencing trade, investment, and consumer confidence.
- **Cultural Significance**: The peso is deeply tied to Mexico's cultural heritage, appearing in art, literature, and media, and is a symbol of national identity.
- **Global Recognition**: The peso is widely recognized and accepted in Mexico, as well as in international trade, reflecting its status as a key currency in Latin America.
- **Digital Evolution**: The peso has adapted to modern financial systems, including digital payments and central bank digital currencies, ensuring its relevance in the 21st century.

## Body
### Definition and Classification
The peso is the official currency of Mexico, with the ISO code MXN. It is a fiat currency, meaning its value is determined by government policy rather than a physical commodity. The peso is classified as a `medium of exchange`, `unit of measurement`, `money`, and `means of payment`, reflecting its multifaceted role in the economy.

### History and Evolution
The peso has a rich history, evolving from colonial Spanish silver coins to modern banknotes and digital forms. It was officially adopted as the national currency on January 1, 1993, replacing the Mexican peso (1992–1993) and the Mexican new peso (1982–1992). The Bank of Mexico, established on August 25, 1925, has been responsible for its issuance and regulation.

### Structure and Subdivision
The peso is subdivided into 100 centavos, with coins and banknotes issued in denominations reflecting this subdivision. For example, 1 peso equals 100 centavos, and coins like the 50 centavo piece are widely used. The Bank of Mexico produces the peso, ensuring its authenticity and circulation.

### Global Recognition and Documentation
The peso is extensively documented across global knowledge systems, with a Wikipedia presence in 166 languages. It is mapped to numerous controlled vocabularies, including the Dewey Decimal Classification `332.4` (Finance). The peso has identifiers in major databases like GND (`4064147-8`), BabelNet (`00024507n`), and Freebase (`/m/01q7l`).

### Related Entities
The peso is connected to several key entities, including `Mexico` (country), `Bank of Mexico` (central bank), and `currency` (general class). It is part of the broader global financial system, including international trade agreements like USMCA. The peso is also linked to the `list of currencies`, which enumerates specific currency units.

### Cultural and Digital Depictions
The peso has a significant cultural presence, appearing in art, literature, and media. It is represented by the Unicode character 💵 and has a dedicated OpenStreetMap key (`currency`). The peso is also a topic in fictional universes, with articles in multiple languages for settings like *Star Wars* and *Forgotten Realms*.

### Organizational and Platform Contexts
The peso is integrated into various organizational taxonomies and platform schemas. It is recognized by its aliases, including `MX$`, `Mexican centavo`, `Mexican nuevo peso`, and `Mexican new peso`. The peso is also present in news and media contexts, with topics in platforms like BBC Things and The Guardian.

### Linguistic and Lexical Data
The peso is recognized in over 20 languages, with aliases including `monetary unit`, `unit of money`, `money unit`, `currencies`, and language-specific terms like `divisa` (Spanish) and `通貨` (Japanese). The peso has lexical IDs in databases like `lex_id: valuta` and `psh_id: 1488`.

### Reference and Authority Control
The peso is firmly anchored in authority control files, with identifiers like GND (`4064147-8`) and BabelNet (`00024507n`). It is also referenced in historical and academic sources, including the Great Soviet Encyclopedia and Brockhaus and Efron Encyclopedic Dictionary.

### Economic and Political Significance
The peso plays a critical role in Mexico's economy, enabling trade, investment, and economic stability. Its regulation by the Bank of Mexico ensures monetary policy coherence, while its role in international trade agreements like USMCA highlights Mexico's economic significance in North America. The peso's evolution from colonial silver coins to a modern fiat currency reflects Mexico's historical and economic development.

## References

1. [Source](https://github.com/JohnMarkOckerbloom/ftl/blob/master/data/wikimap)
2. ISO 4217
3. Freebase Data Dumps. 2013
4. National Library of Israel
5. GF WordNet