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USD/MXN exchange rate. Mexican peso crisis in 1994 was an unpegging and devaluation of the peso and happened the same year NAFTA was ratified. [2]The Mexican peso (symbol: $; currency code: MXN; also abbreviated Mex$ to distinguish it from other peso-denominated currencies; referred to as the peso, Mexican peso, or colloquially varo) is the official currency of Mexico.
The dollar sign, also known as the peso sign, is a currency symbol consisting of a capital S crossed with one or two vertical strokes ($ or depending on typeface), used to indicate the unit of various currencies around the world, including most currencies denominated "dollar" or "peso".
It replaced the Guatemalan peso at the rate of 60 pesos = 1 quetzal. [1] Until 1987, the quetzal was pegged to and domestically equal to the United States dollar.