Meaning of mxn (what is it, concept and definition)

What is MXN:

MXN is a nomenclature to refer to Mexico, especially to indicate the currency of that country: the Mexican peso.

MXN is generally used to indicate the change from the Mexican peso (MXN) to other currencies such as the United States dollar (USD) or the euro (EUR).

Each country has a specific nomenclature for its national currency, for example, COP for the Colombian peso or CLP for the Chilean peso.

The Mexican currency expressed with the letters MXN, like all world currencies, are subject to exchange rates that will determine the value it has with respect to the currency of another country.

For example, to change from Mexican pesos to US dollars, generally expressed as: “MXN to USD”, the exchange rate must first be taken into account.

For example, if the exchange rate indicates that 1 US dollar (USD) is equal to 21 Mexican pesos (MXN), to know how much 100 Mexican pesos are worth, you must divide the 100 by 21 being 4,761 US dollars. This can be expressed in the following way:

100 MXN = 4,761 USD

If, on the other hand, we want to know how much 100 US dollars in Mexican pesos are worth, following the example of the exchange rate above, we must multiply 100 by 21, which results in 2100 Mexican pesos. We can write this in the following way:

100 USD = 2100 MXN

MXN is also used informally as an abbreviation for Mexico.