This week in Economics we talked about money. According to my notes money is any commodity or token that is generally accepted as means of payment. In this weeks blog I will be talking about the money in Mexico. Mexican money is referred to as "pesos". One peso is worth 100 Mexican cents (centavos). Mexican banks print bills in 20 50 100 200 500 and 1000 pesos. There are many different banks in Mexico, Scotiabank, Inverlat, Banamex/Citibank, and BBVA - Bancomer being the largest.
Banco de Mexico is considered the central bank to Mexico. Banco de Mexico is translated into the Bank of Mexico as you can probably already tell . The main jobs of this central bank is to provide currency to the domestic economy according to http://www.banxico.org/. Like the Federal Reserve in America, regulate payment systems, operate as the last resort for credit institutuions. They also operate central banks with financial issues.
Good post. Very similar to my post only that mines is about Cuba. This is good information about Mexico's banks and money for people who do not know.I know that right now a USD is about 10 Mexican pesos or around there.I did not know that Mexico had 1000 pesos bill. Nice to know. good post.
ReplyDeleteWow I didnt know you could make such high bank notes! Very good post I liked it. This post was similar to my post that I just did about the Israeli monetary system! I like your blog keep it up!
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