The USD is the abbreviation for the U.S. dollar, the United States of America’s official currency, and the world’s primary reserve currency. The Peso is the basic monetary unit of several Latin American countries and the Philippines. Countries that use the Peso as their currency include Mexico, the Philippines, Uruguay, Chile, Colombia, Cuba, Dominican Republic, and Argentina.
In this article, CompareRemit has put together a guide that looks at the U.S. dollar to every country’s peso exchange rate that uses the Peso as their currency.
Mexico
Mexico is a country in the southern parts of North America and a most popular Spanish speaking nation. Their currency is known as the Mexican Peso (MXN). They call it Peso Mexicano in Spanish. The ISO 4217 (a standard published by the International Organisation for Standardisation (ISO) defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units) code for the Mexican Peso is MXN. As of December 9, 2020, the Mexican Peso’s exchange rate was $19.83 per U.S. dollar.
Philippines
The Philippines is an archipelagic country in Southeast Asia. Their currency is known as the Philippine Peso, also called by its Filipino name, piso. The Philippine peso sign is represented by the symbol ₱, created under American reign in place of the original Peso sign $ used all over Hispanic Latin America. The ISO 4217 code for the Philippine Peso is PHP. According to Google Finance, as of January 29, 2021, 1 U.S. dollar to PHP is equal to 48.06 Philippine pesos. The current exchange rate for USD to pesos varies in the Latin countries that use pesos as their currency. The Peso is also becoming more substantial and valuable as an exchange currency.
Uruguay
Uruguay, officially the Oriental Republic of Uruguay, is a country in the southeastern region of South America. The Uruguayan Peso, or in Spanish peso uruguayo, has been named the Uruguayan currency since Uruguay’s settlement by Europeans. The ISO 4217 code for the Uruguayan Peso is UYU. As of January 11, 2021, 1 U.S. dollar to UYU is equal to 42.5364 Uruguayan pesos about Google Finance.
Chile
Chile, officially the Republic of Chile, is a country in western South America. The Chilean Peso is the currency for Chile. The ISO 4217 code for the present Chilean Peso is CLP. Its symbol is $ and clarified as CLP$. The $ commonly known as the United States dollar sign also uses the same logo. Therefore, to define, it is advisable to include the ISO 4217 code before the symbol. According to Google, the exchange rate was about CLP$720 to 1 United States dollar as of August 2019 and has risen to 735.00 Chilean Peso per one United States Dollar as of January 29, 2021 Finance.
Colombia
Colombia is a transcontinental country mainly in the north of South America, with territories in North America. The Colombian Peso is the coinage of Colombia. According to Google Finance report on January 29th, 1 U.S. dollar is equal to 3,563.13 Colombian Peso.
Cuba
Cuba comprises the island of Cuba and Isla de la Juventud, and some insignificant archipelagos. In Cuba, till January 1, 2021, there are two currencies, both referred to as Peso. The first one is the “Cuban peso”, and the second one is the Cuban convertible peso, commonly dubbed as “dollar” in the spoken language. From 2011 until December 31 2020, the official rate was 1:24 to convert CUC to CUP and 25:1 the opposite according to the Central Bank announcement on March 12, 2011.
Dominican Republic
The Dominican Republic is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. Dominican Peso, or rather Peso Dominicano in Spanish, has been the name of the Dominican Republic or Republica Dominicana currency since 2011. Its sign is $, with RD$ often used when distinction from other pesos (or dollars) is needed. As of August 31, 2020, US$1 buys around 58.50 pesos. This has dropped to 57.95 Dominican Pesos per 1 U.S. dollar as of January 29, 2021. This information is about the Google Finance report.
Argentina
Argentina, officially the Argentine Republic or Republica Argentina in Spanish, is a country located mostly in South America. The Argentine Peso (established as the peso convertible) is Argentina’s currency, identified by the symbol $ preceding the amount in the same way as many countries using dollar currencies. Its ISO 4217 code is ARS. As of January 29, 2021, 1 United States dollar is equal to 87.28 Argentine Pesos, a report written by Google Finance.
Conclusion
Using the exchange rate, we are able to compare prices of goods, services, and assets quoted in different currencies. If you send or receive money frequently, being up-to-date on these factors will help you better evaluate the optimal time for international money transfer.
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