The official currency of Mexico is the Mexican Peso, abbreviated as MXN. The peso has a rich history, dating back to the Spanish dollar used during colonial times. Today, it is one of the most traded currencies in the world, reflecting Mexico’s role as a significant player in global trade. The peso is subdivided into 100 centavos, and its value can fluctuate against other currencies based on various economic factors, including inflation and interest rates. The symbol for the peso is "$," similar to the U.S. dollar, but often it's denoted as "MX$" to avoid confusion.