USD to MXN Converter & Mexico Remittance Guide

Get the live USD → MXN rate

Rates move every minute — open the converter above for the current mid-market USD/MXN rate. What your recipient gets depends on the provider's margin and fees below. Unlike a managed currency, the peso floats freely, so there's no official band to compare against.

The floating peso and Banxico's remesas data

Mexico has had a free-floating exchange rate since December 22, 1994, and Banco de México (Banxico) says the rate "is determined freely in the market without the intervention of the authorities." There's no target band or peg for USD/MXN to check yourself against — the rate simply moves with market supply and demand, which is why it can swing more in either direction than a currency under a managed band.

Banxico separately tracks how much money actually flows into Mexico as remittances, publishing a report on the first business day of every month. Its most recent report at time of writing covers July 2026, showing remittance inflows of $5,571 million, up 3.0% year-over-year, across 13.1 million individual transfers averaging $426 each. That average-transaction figure is a useful sanity check: if a provider's quote for a similarly sized transfer looks unusually far from the mid-market rate, it's worth getting a second quote.

Cash pickup vs. bank deposit, and the new US remittance tax

Providers serving Mexico typically offer both bank deposit and cash pickup, and the right choice depends on your recipient: a bank deposit needs no branch visit and suits someone already banked, while cash pickup at a partner location suits someone without an account but requires them to travel to a physical location with ID. Not every provider offers both, so check the specific route.

Separately, US law now adds a cost on the sending side. The One Big Beautiful Bill Act created a federal 1% excise tax on qualifying remittance transfers sent from the United States, effective January 1, 2026, according to the IRS. The sender is liable for the tax, though providers must collect it, and it applies where a sender funds a transfer with cash, a money order, a cashier's check, or a similar physical instrument. The IRS issued proposed regulations in April 2026 to clarify exactly which transfers and payment methods are in scope, so check IRS.gov for the current rules that apply to your transfer before assuming a fee quote already includes or excludes this tax.

Frequently Asked Questions

What is the live USD to MXN rate?

Use the converter above for the current mid-market USD/MXN rate. Your recipient's amount depends on the provider's margin and fee.

Cheapest way to send USD to Mexico?

Get quotes from two or three providers and compare the total received for your exact amount.

Why is my rate worse than Google's?

Google shows the mid-market rate; providers add a margin and sometimes a fee. Compare the final amount across providers.

How to get the best USD–MXN rate?

Compare a few providers, use first-transfer promos, focus on the margin not just the fee, and send larger amounts less often.

How much money do people send to Mexico each month?

Banco de México (Banxico) publishes remesas data monthly. Its most recent report at time of writing showed $5,571 million in remittance inflows for July 2026, a 3.0% increase from July 2025, across 13.1 million transactions averaging $426 each.

Is there a new US tax on money sent to Mexico?

Yes. The One Big Beautiful Bill Act created a 1% federal excise tax on qualifying remittance transfers sent from the US, effective January 1, 2026, per the IRS. The sender is liable for the tax, and providers are required to collect it; check IRS.gov for the current rules on which transfer methods and payment sources are covered, since the IRS issued proposed regulations in April 2026 to clarify scope.

Cash pickup or bank deposit — which is better for Mexico?

It depends on your recipient. A bank deposit lands directly in their account with no branch visit, which suits someone who is already banked. Cash pickup at a partner location suits a recipient without a bank account, but requires a trip to a physical location with ID. Compare providers on your route — not every provider offers both options to Mexico.

Is the peso fixed to the dollar?

No. The Mexican peso floats freely; Banco de México does not target a fixed USD/MXN rate or a specific band, so the rate moves continuously with market supply and demand rather than around an official reference point.

Related calculators

• Home Loan Calculator – the USA
• SIP Calculator – the USA
• Home Loan Calculator – Mexico
• Fixed Deposit Calculator – Mexico

Sources

• Banco de México, Regímenes Cambiarios en México a partir de 1954 (accessed 24 September 2026)
• Banco de México, Información de Ingresos y Egresos por Remesas, julio de 2026 (accessed 24 September 2026)
• Banco de México, Remesas, balanza de pagos (accessed 24 September 2026)
• IRS, Treasury, IRS issue proposed regulations on the new remittance transfer tax (accessed 24 September 2026)