Converting between pesos and dollars is common for travelers and businesses conducting cross-border transactions between the United States and countries that use the peso as currency. With fluctuating exchange rates and multiple peso currencies, it’s important to stay up-to-date on the latest peso to dollar conversions.
This comprehensive guide provides everything you need to know about current and historical peso to dollar exchange rates. We’ll cover conversions for the Mexican peso (MXN), Philippine peso (PHP), Uruguayan peso (UYU), Chilean peso (CLP), Dominican peso (DOP), and more against the US dollar (USD).
Overview of Peso Currencies and Exchange Rates
Several countries in North America, South America, and Asia use the name “peso” for their official currencies. Here is a quick overview of the major peso currencies:
- Mexican Peso (MXN) – Mexico
- Philippine Peso (PHP) – Philippines
- Chilean Peso (CLP) – Chile
- Uruguayan Peso (UYU) – Uruguay
- Dominican Peso (DOP) – Dominican Republic
- Cuban Peso (CUP) – Cuba
- Argentine Peso (ARS) – Argentina
- Colombian Peso (COP) – Colombia
The exchange rates between these peso currencies and the US dollar vary based on the relative economic conditions and monetary policies of each country. Exchange rates fluctuate daily based on supply and demand.
Government central banks and private banks set official daily exchange rates that are used for large interbank transactions between the countries. Retail exchange outlets then set their own rates for exchanging with individual consumers based on the wholesale interbank rates plus a markup.
Live Exchange Rates for Major Peso Currencies
Staying up-to-date on current exchange rates is important for getting a good deal when exchanging currencies. Here are today’s live exchange rates for major peso currencies against the US dollar:
|Currency||Code||USD Exchange Rate|
These are current as of Monday, October 16, 2023. Rates are shown as units of the foreign currency per 1 US dollar. For example, 19.92 Mexican pesos (MXN) are worth 1 US dollar (USD) today.
The rates fluctuate daily Monday through Friday based on trading. Check back often to get the latest conversions. Websites like XE.com also provide live updating currency charts.
Mexican Peso (MXN) to USD Exchange Rate History
The Mexican peso has had a fluctuating exchange rate history versus the US dollar over the past decades. Here is a look back at the exchange rate over time:
|Year||MXN per USD Exchange Rate|
In the early 2000s the exchange rate was around 10 MXN per 1 USD. The peso declined against the dollar over the next two decades, needing over 20 MXN for each USD by 2020. The exchange rate has eased somewhat in 2022 back under 20 MXN per USD.
The peso-dollar exchange rate often fluctuates with economic conditions, trade flows, inflation rates, and interest rates between Mexico and the United States. Keep an eye on the latest exchange listings when transferring money between the two countries.
Philippine Peso (PHP) to USD Historical Rates
The Philippine peso is another prominent currency in Asia that is pegged against the US dollar. Here are the historical USD exchange rates for the Philippine peso (PHP):
|Year||PHP per USD Rate|
Up until recently the exchange rate held relatively stable between 40-50 PHP per USD. But the peso has declined in value compared to the dollar over the past two years.
When sending money or buying products between the Philippines and the US, be sure to check a live exchange listing to value the transaction accurately.
Chilean Peso (CLP) Historical Exchange Rates
For transactions between Chile and the United States, the Chilean peso exchange rate is needed. Here are the historical rates between CLP and USD:
|Year||CLP per USD Rate|
The Chilean peso has faced high inflation and currency devaluations in recent decades. As a result, the exchange rate has risen from around 500 CLP per 1 USD in 2000 to over 950 CLP per 1 USD today. Keep a close eye on currency markets when doing business between Chile and the United States.
Converting USD to Uruguayan Peso (UYU) Rates
For financial transfers and transactions between the US and Uruguay, referencing the USD to Uruguayan peso exchange rate is a must. Here are the historical rates:
|Year||USD per 1 UYU Rate|
The Uruguayan peso has seen significant inflation and currency devaluations versus the US dollar in the 21st century. Overall the trend has been upward, reaching over 40 UYU per 1 USD in 2020 before easing to around 38 UYU recently.
Dominican Peso (DOP) Exchange Rate Against USD
For travel and business transactions between the Dominican Republic and the United States, you will need to reference the DOP to USD exchange rate. Key historical rates include:
|Year||DOP per 1 USD Rate|
The DOP has gradually declined versus the dollar over the past 20 years. Recently is has stabilized in the mid-50s range. But be sure to check for any fluctuations before making conversions.
How to Convert Between Pesos and Dollars Easily
- Use a currency converter – Popular online converters like XE or Oanda allow you to enter any peso or dollar amount and convert to the other currency instantly.
- Check exchange rates online – News sites and currency sites like Bloomberg provide tables with daily exchange rates for easy conversion.
- Use mobile apps – Downloadable currency converter apps have up-to-date rates and allow easy conversions on the go.
- Ask your bank – Major banks can exchange pesos and dollars for customers requiring foreign currency.
- Withdraw at ATMs abroad – Using an ATM or debit card abroad gives live exchange rates. Check fees.
- Exchange at airports/stations – Airports, stations and border crossings may offer currency exchange services. Compare rates.
- Use exchange services – Services like Western Union allow direct peso-dollar transfers between banks and remittance outlets.
FAQs About Peso to Dollar Conversions
What is the current peso to dollar exchange rate?
The exchange rates fluctuate daily based on trading. As of October 16, 2023 the rates per USD are: MXN 19.92, PHP 57.35, CLP 852.50, UYU 39.90, DOP 57.47.
Where can I find the latest peso to dollar exchange rates?
Live updated rates can be found online at sites like XE, Bloomberg, and Oanda. Major banks also list daily currency exchange rates.
Which peso currencies can be exchanged with US dollars?
The major peso currencies exchanged against USD include the Mexican (MXN), Philippine (PHP), Chilean (CLP), Uruguayan (UYU), and Dominican (DOP) pesos.
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How often do peso to dollar exchange rates change?
The rates can change daily Monday through Friday based on currency trading. Rates generally remain stable on weekends and holidays when markets are closed.
Which factors influence the peso to dollar exchange rate?
Key factors include relative inflation rates, economic growth, interest rates, monetary policy, and political stability between the countries. Supply and demand for currencies also impact daily rates.
Should I exchange dollars for pesos before or after traveling?
It depends on the exchange rate trends and fees. Getting pesos before traveling locks in a rate. But withdrawing pesos upon arrival could give you a better rate if the dollar strengthens. Compare options.
Converting Pesos to Dollars Made Simple
Exchanging between the US dollar and the many peso currencies common across North and South America doesn’t need to be complicated. Whether transferring funds abroad or exchanging money for an upcoming trip, this guide provides the latest exchange rates and best practices for getting favorable peso-dollar conversions.
Checking daily listings from credible sources will give you the current rate so you can value cross-border transactions accurately and get the best deals. With this comprehensive overview, converting pesos to dollars is made quick and easy!