Definition

1. Noun:
   • The basic unit of money in Mexico: The "Mexican peso" is the official and primary currency of Mexico. It serves as the standard monetary unit for all financial transactions within the country.
   • Equal to 100 centavos: One Mexican peso is subdivided into 100 smaller units called centavos, similar to how a US dollar is divided into 100 cents.

Usage Examples

• Noun:
  • The souvenir costs only fifty Mexican pesos. (The price of the souvenir is fifty units of Mexico's currency.)
  • I need to exchange my dollars for Mexican pesos before my trip. (I need to convert US currency into the currency of Mexico.)

Advanced Usage

• "Peso" as a standalone term: In financial or travel contexts within North America, the word "peso" is often understood to refer to the Mexican peso, though other countries also use pesos.
  • The vendor quoted the price in pesos, so I knew he meant Mexican currency.
• Referring to value or exchange rate: The term is used when discussing the currency's value against other global currencies.
  • The Mexican peso has strengthened against the euro this quarter.

Variants and Related Words

• Peso (n): The more common, shortened form of "Mexican peso."
  • I have a hundred pesos in my wallet.
• Centavo (n): The fractional unit of the Mexican peso.
  • The coin is worth twenty centavos.
• MXN: The three-letter ISO 4217 currency code for the Mexican peso, used in international finance and currency markets.
  • The transfer was made in MXN.

Synonyms

• Mexican currency: A general term for the money used in Mexico.
• $ (Mexican peso sign): The symbol (identical to the US dollar sign) used to denote pesos, often written as MX$ or $ to distinguish it.

Related Phrases

• Peso fluctuates: Refers to changes in the exchange rate or value of the Mexican peso.
  • Investors watch when the peso fluctuates.
• Peso-denominated: Describes assets, debts, or prices stated in Mexican pesos.
  • He holds a peso-denominated bond.

Noun

1. the basic unit of money in Mexico; equal to 100 centavos