Convert Mexican Peso to Saudi Riyal
Please provide values below to convert Mexican Peso [MXN] to Saudi Riyal [SAR], or Convert Saudi Riyal to Mexican Peso.
How to Convert Mexican Peso to Saudi Riyal
1 MXN = 4.97178666666667 SAR
Example: convert 15 MXN to SAR:
15 MXN = 15 × 4.97178666666667 SAR = 74.5768 SAR
Mexican Peso to Saudi Riyal Conversion Table
| Mexican Peso | Saudi Riyal |
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Mexican Peso
The Mexican Peso (MXN) is the official currency of Mexico, used for everyday transactions and financial exchanges within the country.
History/Origin
The Mexican Peso originated in the 19th century, evolving from the Spanish dollar and undergoing various reforms. It was decimalized in 1905 and has experienced multiple currency reforms, including the introduction of the current peso in 1993 to stabilize the economy.
Current Use
Today, the Mexican Peso is widely used in Mexico for all forms of payment, both cash and electronic, and is one of the most traded currencies in Latin America.
Saudi Riyal
The Saudi Riyal (SAR) is the official currency of Saudi Arabia, used for all monetary transactions within the country.
History/Origin
The Saudi Riyal was introduced in 1925, replacing the Indian Rupee, and has undergone various reforms, including decimalization in 1929. It is issued and regulated by the Saudi Central Bank.
Current Use
The SAR is widely used in Saudi Arabia for everyday transactions, banking, and international trade, and is pegged to the US dollar at a fixed rate.