dollars using the applicable exchange rate without prior notice to you.įor additional information related to Wires and foreign currency wires, please see the Online Access Agreement or applicable service documentation. Incoming wire transfers received in a foreign currency for payment into your account will be converted into U.S. We may refuse to process any request for a foreign exchange transaction. Modern peso and dollar currencies have a common origin in the 16th19th century Spanish. Wells Fargo is your arms-length counterparty on foreign exchange transactions. The Mexican peso (symbol: code: MXN) is the currency of Mexico. Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks. a) April 19 of 1954 to August 31 of 1976: Fixed exchange rate of 12.50 pesos (old pesos) per dollar. The foreign currency was being bought from 16.90 pesos (Banorte) to 17.50 pesos (Inbursa) and sold from 18.29 pesos (BBVA) to 19.00 pesos (Inbursa). Different customers may receive different rates for transactions that are the same or similar, and the applicable exchange rate may be different for foreign currency cash, drafts, checks, or wire transfers. peso is equivalent of 1,000 (one thousand) of those. Claim: The peso-dollar exchange rate during the administration of Ferdinand Marcos was at P1.50 to P2 per dollar, a sign of a better economy compared to today. The exchange rate Wells Fargo provides to you may be different from exchange rates you see elsewhere. The applicable exchange rate does not include, and is separate from, any applicable fees. USD/MXN extends losses around 18.0900, awaits Fed policy decision. The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The exchange rate used when Wells Fargo converts one currency to another is set at our sole discretion, and it includes a markup. In addition to any applicable fees, Wells Fargo makes money when we convert one currency to another currency for you.
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