The pair of currencies - USD=US dollar, MXN=Mexican Peso - is quoted as 1 USD x MXN. If the pair is trading at 19, it means it takes 19 MXN to buy 1 USD. The higher this rate from a US perspective, the stronger the US dollar to the other currency. The MXN is a free floating currency, so its value isn’t pegged to the USD. The USD to MXN exchange rate was 20.17 on December 13, 2024.
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