What is the Mexican Peso?
The currency of Mexico, the Peso is the 8th most traded currency in the world. The Peso is subdivided into 100 centavos that is represented by ‘¢’.
Uses of the Mexican Peso
The Peso is used throughout Mexico where it is the official currency of the country. The futures contract symbol is 6M.
Risks of the Mexican Peso
Historically the Peso has been seen as a volatile currency. It 1994 the Mexican central bank devaluated the Peso between 13 and 15%, in the same year the Peso was allowed to float. With this there was a flight away from the Peso with the currency experiencing a severe recession.