Pictures of Mexican Currency
The reason why there are several types of legal tenders in Mexico is the creation, on January 1st, 1993, of a new unit of the Mexican Monetary System. This new system was established in order to simplify the expression of quantities in domestic currency in Mexico. The new unit is equivalent to 1,000 pesos of the previous unit. The adjective "nuevo" (new) was used in legal tender notes before the name "peso" in the new unit for a transitory period that lasted until 1996, in order to differentiate it from the former monetary unit. Pictures of Mexican Currency - NotesFor the first type, Banco de Mexico issued, starting from 1993, a new series of banknotes denominated in "nuevos pesos" (new pesos). These banknotes, known as Type B Banknotes, have the same designs as the banknotes previously in circulation.
In October, 1994, however, the look of the notes was updated. This issue of banknotes has been named Type C Banknotes, which are also denominated in "nuevos pesos".
The final, third phase of the new currency unit introduction started in 1996 with the elimination of the adjective "nuevo" from the name of the unit in the series of banknotes that were issued. These banknotes, known as Type D Banknotes, have the same designs as the type C banknotes, but the use of the adjective "nuevo" has been ommitted.
Pictures of Mexican Currency - CoinsThose coins representative of the monetary unit in force since January 1st, 1993, are legal tender in Mexico. These coins are known as either type B or type C coins. Type B coins are those issued by the Central Bank with denominations of five, ten, twenty and fifty cents, as well as one, two, five, ten, twenty and fifty nuevos pesos. All of these coins were minted before January 1st, 1996.
Meanwhile, Type C coins are those issued by Banco de Mexico with denominations of five, ten, twenty and fifty cents, as well as one, two five, ten, twenty and fifty pesos. All of these coins have been minted since January 1st, 1996.
|