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base info Dai

Dai to Mexican Peso Converter and calculator

Convert 1Dai (DAI) to Mexican Peso (MXN) equals $ 16.59 | Bitget

MXN information

About the Mexican Peso (MXN)

What Is the Mexican Peso (MXN)?

The Mexican Peso (MXN) is the official currency of Mexico. It is abbreviated as MXN and often represented by the symbol $ or Mex$. Originating from the Spanish dollar between the 15th and 19th centuries, the peso has evolved from a regional currency to a potent global financial instrument. The Mexican Peso is the sole legal tender in Mexico, and it is used for all transactions within the country.

The Mexican Peso is issued by the Bank of Mexico (Banco de México), which is the central bank of Mexico. Established in 1925, the Bank of Mexico is responsible for regulating the country's monetary policy, including the issuance and circulation of the national currency, the Mexican Peso (MXN). The central bank's responsibilities also encompass managing Mexico's currency reserves, controlling inflation, and ensuring the stability of the financial system.

What Is the History of MXN?

The peso's history is deeply intertwined with Spain's official currency, the "real," minted in silver. The term "peso," meaning "weight," referred to the silver weight of the currency. The most common denomination was the silver 8-real coin, which remained in circulation until the mid-19th century. Mexico's transition to paper money began in the early 20th century, with the Bank of Mexico established in 1925 to control currency circulation, exchange rates, and interest rates.

The 1980s were marked by hyperinflation and currency devaluation, leading to the introduction of the "Nuevo Peso" in 1993, valued at 1,000 old pesos. This change was a response to the economic challenges Mexico faced, including the impact of the 1970s oil crisis.

Notes and Coins of MXN

The Mexican Peso includes a diverse range of banknotes and coins, each showcasing the nation's rich history and culture. The banknotes feature prominent figures and landmarks, with denominations of 20, 50, 100, 200, 500, and 1000 Pesos. The coins, which come in denominations of 5, 10, 20, and 50 centavos, and 1, 2, 5, 10, and 20 Pesos, display Mexico's national emblem and other cultural symbols.

Global Standing

As of recent years, the Mexican Peso has become one of the most traded currencies in the world and is the most traded currency in Latin America. Its value and exchange rates are influenced by various factors, including Mexico's economic policies, global market sentiments, and its relationship with major economies like the United States.

Can You Use MXN in Other Countries?

The Mexican Peso, while primarily used within Mexico, may occasionally be accepted in certain areas outside the country, particularly in US border towns and some tourist destinations in the Caribbean or Central America, due to high cross-border traffic or tourism. However, its acceptance is limited and not a standard practice.

What Is the Relationship Between MXN and the United States?

The Mexican Peso's relationship with the United States is complex and deeply interwoven, primarily driven by extensive trade ties underpinned by the United States-Mexico-Canada Agreement (USMCA). As Mexico's largest trading partner, economic fluctuations and policy changes in the U.S. significantly impact the Peso's value. This interdependency is further highlighted by the substantial remittances sent from Mexican nationals working in the U.S., which form a crucial part of Mexico's economy. Additionally, the U.S. is a key source of foreign direct investment in Mexico, making the Peso sensitive to shifts in U.S. investor sentiment and monetary policy. Political decisions, especially regarding trade and immigration, also play a pivotal role in shaping the Peso's strength. Consequently, the Peso often reacts to economic developments and policy alterations in the U.S., reflecting the intricate economic and financial symbiosis between the two neighboring countries.

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Bitget crypto-to-fiat exchange data shows that the most popular Dai currency pair is the DAI to MXN, with for Dai's currency code being DAI. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for MXN.

DAI to MXN conversion rate trend

1D7D1M3M1YAll
In the past 1D, Dai has changed -0.00% to MXN. Based on the trend and price charts, Dai(DAI) has changed -0.00% to MXN while Mexican Peso(MXN) has changed % to DAI in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
$16.58
0.0001% / 0.0004%vip-iconVIP
Kraken
$16.57
0.1000% / 0.1000%
Yes
OKX
$16.58
0.080% / 0.100%
Yes
Huobi
$16.57
0.1000% / 0.1000%
Yes
Gate.io
$16.55
0.1000% / 0.1000%
Yes
Bybit
$16.57
0.1000% / 0.1000%
Yes
Last updated 2024/04/15 17:00:26(UTC+0)

What factors influence the conversion rate of Dai to Mexican Peso?

Dai to Mexican Peso is falling this week.
Dai's current market price is $ 16.59 per DAI, with a total market cap of $ 88,701,364,470.1 MXN based on a circulating supply of 5,347,888,600 DAI. The trading volume of Dai has changed by -37.20% ($ -4,728,948,462.18 MXN) in the last 24 hours. Last trading day, DAI's trading volume was $ 12,711,748,649.73.
Market cap
$5.35B
24h volume
$481.25M
Circulating supply
5.35B DAI

Conversion tables

The exchange rate of Dai is decreasing.
1 DAI is currently valued at $ 16.59 MXN , which means buying 5 DAI will cost $ 82.93 MXN . Similarly, $1 MXN can be traded for 0.06029 DAI, and $50 MXN can be converted to 3.01 DAI, excluding any platform or gas fees.
The exchange rate of 1 DAI to Mexican Peso has changed by -0.02% in the last 7 days. In the last 24 hours, the rate has fluctuated by -0.00%, reaching a high of 16.59 MXN and a low of 16.58 MXN . One month ago, the value of 1 DAI was $ 16.59 MXN , which represents a -0.04% change from its current value. Over the last year, Dai has changed by
+$
0.006017MXN
, resulting in a change of +0.04% in its value.

DAI to MXN

Amount
17:53 today
0.5 DAI
$8.29
1 DAI
$16.59
5 DAI
$82.93
10 DAI
$165.86
50 DAI
$829.31
100 DAI
$1,658.62
500 DAI
$8,293.12
1000 DAI
$16,586.24

MXN to DAI

Amount17:53 today
0.5MXN0.03015  DAI
1MXN0.06029  DAI
5MXN0.3015  DAI
10MXN0.6029  DAI
50MXN3.01  DAI
100MXN6.03  DAI
500MXN30.15  DAI
1000MXN60.29  DAI
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Today vs. 24 hours ago

Amount17:53 today24 hours ago24h change
0.5 DAI$0.5000$0.5000
-0.00%
1 DAI$0.9999$0.9999
-0.00%
5 DAI$5$5
-0.00%
10 DAI$10$10
-0.00%
50 DAI$50$50
-0.00%
100 DAI$99.99$99.99
-0.00%
500 DAI$499.95$499.97
-0.00%
1000 DAI$999.91$999.94
-0.00%

Today vs. 1 month ago

Amount17:53 today1 month ago1M change
0.5 DAI$0.5000$0.5001
-0.04%
1 DAI$0.9999$1
-0.04%
5 DAI$5$5
-0.04%
10 DAI$10$10
-0.04%
50 DAI$50$50.01
-0.04%
100 DAI$99.99$100.03
-0.04%
500 DAI$499.95$500.14
-0.04%
1000 DAI$999.91$1,000.27
-0.04%

Today vs. 1 year ago

Amount17:53 today1 year ago1Y change
0.5 DAI$0.5000$0.4998
+0.04%
1 DAI$0.9999$0.9995
+0.04%
5 DAI$5$5
+0.04%
10 DAI$10$10
+0.04%
50 DAI$50$49.98
+0.04%
100 DAI$99.99$99.95
+0.04%
500 DAI$499.95$499.77
+0.04%
1000 DAI$999.91$999.54
+0.04%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.