MXN to PHP

MXN - Mexican Peso ($)
PHP - Philippine Piso ()
1 MXN1 PHP

Currency conversion rates from MXN to PHP

MXNPHP
1 MXN1 PHP
5 MXN5 PHP
10 MXN10 PHP
20 MXN20 PHP
50 MXN50 PHP
100 MXN100 PHP
250 MXN250 PHP
500 MXN500 PHP
1000 MXN1000 PHP
2000 MXN2000 PHP
5000 MXN5000 PHP
10000 MXN10000 PHP
PHPMXN
1 PHP1 MXN
5 PHP5 MXN
10 PHP10 MXN
20 PHP20 MXN
50 PHP50 MXN
100 PHP100 MXN
250 PHP250 MXN
500 PHP500 MXN
1000 PHP1000 MXN
2000 PHP2000 MXN
5000 PHP5000 MXN
10000 PHP10000 MXN

MXN - Mexican Peso (Mex$)

The Mexican peso is the currency of Mexico. Its currency code is MXN and its symbol is $. To distinguish it from other currencies using the $ symbol, the peso is sometimes written as M$, MX$, or MEX$. The symbol MXN replaced the former symbol, MXP. The peso has a conversion factor of 6 significant digits, and is fiat currency. The most popular peso exchange is with the US dollar.

The Mexican Peso was initially based on Spain’s official currency, which is the silver dollar. The Mexican name originated from the 8-real coins that were issued by Spain for Mexico, which were cast from pure silver. It was the first currency to use a discrete border and accurate weight to guard against counterfeits, which made it very popular.

The Mexican Peso is the currency in Mexico (MX, MEX). The symbol for MXN can be written Mex$. The Mexican Peso is divided into 100 centavos. The exchange rate for the Mexican Peso was last updated on Today from The International Monetary Fund. The MXN conversion factor has 6 significant digits.

Economy

  • The Mexican economy is supported by the private sector. And its economy was based on manufacturing, though agricultural sector went down, it was still considered the source of employment.
  • The Mexican economy went from a deep transformation since 1980s, which is a result of economic laissez-faire and becoming a member of the North American Free-Trade Agreement.
  • In 2003, mining reached a GDP of 1.4%, yet it devalues the significance of oil production in the economy. Oil exports symbolized 11.3% of the entire export earning of the country.

History

  • In the late 18th century, the Mexican Peso was used as a benchmark for all North American countries. On July 6, 1785, the US Dollar was valued at a rate comparable to the Peso, and was widely used as currency in the United States well after USD bills were introduced.
  • After gaining independence from Spain in 1821, Mexico continued to use the Peso as its currency.
  • In 1863, the first centavo coins were issued; a centavo was one-hundredth of a Peso. Another series of 1 peso coins was issued the following year until 1897.
  • In 1905, the value of golden Peso was reduced to 49.3%, but the silver Peso remained unchanged.
  • After the Oil Crisis of the 1970s, Mexico faced many years of inflation and debt defaults, leading to the replacement of the currency with the Nuevo Peso. The Nuevo Peso was valued at 1000 Mexican Pesos.

More information about MXN - Mexican Peso (Mex$)


PHP - Philippine Piso ()

The Philippine peso is the official currency of Philippines. It is commonly depicted by the symbol ₱. Written abbreviations include: PhP, Php, P$, or P. The official currency code for the peso is PHP.

The Peso is the foreign currency of the Philippines. It's subdivided into one hundred centavos. Prior to 1967, English was used on all notes and coins, hence the term “peso” was used as the name of the currency in the Philippines. When Filipino was introduced as a written language, the term used on notes and coins became “piso”.

The Philippine Peso is the currency in Philippines (PH, PHL). The symbol for PHP can be written P. The Philippine Peso is divided into 100 centavos. The exchange rate for the Philippine Peso was last updated on Today from The International Monetary Fund. The PHP conversion factor has 6 significant digits.

Economy

  • The Philippines is estimated to be the 45th largest economy in the world, with a GDP of USD$216 billion (2011). Major exports includes semiconductors and other electrical components, transport equipment, clothing, copper and petroleum products and fruits.
  • In recent times, the Philippines has been transitioning from a agricultural-based economy to one that increasingly relies on services and manufacturing. Agriculture now only accounts for roughly 30% of the workforce and about 14% of GDP.
  • The economy of the Philippines was the second largest in East Asia after World War II. However the economy stagnated until the 1990s, based on economic policies and political volatility, and other Asian countries surpassed the Philippines in terms of GDP growth.
  • In the 1990s, a new program of economic liberalization was introduced, leading to economic recovery until the 1997 Asian Financial Crisis.

History

  • Prior to the introduction of a formal currency, trade in the Philippines was performed using a barter system, and later on “piloncitos” (small pieces of gold) and gold barter rings.
  • The Spanish introduced coins to the Philippines when they colonized the country in 1521. However, the coins used by Filipino people were minted in various Spanish countries around the world, leading to major inconsistencies in purity and weight.
  • In 1861, the first mint was established in order to standardized coinage.
  • After the Philippines gained independence in 1898, the country’s first local currency was introduced, replacing the Spanish-Filipino Peso.
  • The United States captured the Philippines in 1901, and established a new unit of currency that was pegged to exactly half of a US Dollar in 1903.
  • During World War II, the Philippines was occupied by Japan, and new notes were introduced yet again.
  • The Central Bank of the Philippines was established in 1949, leading to the reintroduction of a formal Filipino currency.

More information about PHP - Philippine Piso ()