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Story
In 1822, a project was outlined to create the Great Bank of the Mexican Empire, which was supposed to begin issuing banknotes. The project was not implemented. On December 22, 1822, the Treasury began issuing paper money for the Mexican Empire. In 1823, after the proclamation of the Republic, paper money from the imperial period was withdrawn from circulation and replaced by paper pesos of the Nation's Treasury.
In 1884, the production of banknotes from private banks began. The number of banks issuing banknotes grew rapidly: the Bank of Chihuahua since 1884, the Commercial Bank of Chihuahua since 1889, the Bank of Aguscaliente and the Bank of Chiapas since 1902, the Bank of Campeche since 1903, etc.
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Notes
Literature
- Butakov D.D., Zolotarenko E.D., Rybalko G.P. Currencies of the world: Directory / Ed. S. M. Borisova, G. P. Rybalko, O. V. Mozhaiskova. - 5th ed., revised. and additional - M.: Finance and Statistics, 1987. - 383 p.
Links
- (Spanish) - official website of the Bank of Mexico (English)
| Briefcase and stacks of gold coins | This is a preliminary article about banks. You can help the project by adding to it. |
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Excerpt characterizing the Bank of Mexico
“I told you,” Sever smiled. – Living Water... It helps to absorb knowledge, relieves fatigue, and returns light. Everyone who is here drinks it. She has always been here, as far as I remember.He pushed me further. And then I suddenly realized what seemed so strange to me... The room did not end!.. In appearance it seemed small, but continued to “lengthen” as we moved through it!.. It was incredible! I looked at Sever again, but he just nodded, as if saying: “Don’t be surprised by anything, everything is fine.” And I stopped being surprised... A man “came out” right from the wall of the room... Startled in surprise, I immediately tried to pull myself together so as not to show surprise, since for everyone else living here, this was apparently completely familiar. The man came straight up to us and said in a low, sonorous voice:
- Hello, Isidora! I am the Magus Isten. I know it’s hard for you... But you yourself chose the path. Come with me - I'll show you what you've lost.
We moved on. I followed a wonderful man from whom incredible power emanated, and sadly thought how easy and simple everything would be if he wanted to help! But, unfortunately, he didn’t want to either... I walked, deep in thought, completely not noticing how I found myself in an amazing space, completely filled with narrow shelves, on which rested an incredible number of unusual gold plates and very old “packages” similar to ancient manuscripts kept in my father’s house, with the only difference being that those stored here were made on some very thin unfamiliar material, which I had never seen anywhere before. The plates and scrolls were different - small and very large, short and long, as tall as a man. And in this strange room there were a great many of them...
– This is KNOWLEDGE, Isidora. Or rather, a very small part of it. You can absorb it if you wish. It will not harm, and may even help you in your quest. Try it, honey...
Isten smiled affectionately, and it suddenly seemed to me that I had always known him. A wonderful warmth and peace emanated from him, which I so missed all these terrible days fighting Caraffa. He apparently felt all this very well, because he looked at me with deep sadness, as if he knew what an evil fate awaited me outside the walls of Meteora. And he mourned me in advance... I approached one of the endless shelves, “filled to the top” with semicircular gold plates, to see how Isten suggested... But before I even had time to bring my hand closer, a flurry of stunning things literally fell on me. wonderful visions!!! Stunning pictures, unlike anything I had ever seen, flashed through my exhausted brain, replacing each other with incredible speed... Some of them for some reason remained, and some disappeared, immediately bringing with them new ones that I I also almost didn’t have time to look at it. What was that?!.. The life of some long-dead people? Our Great Ancestors? The visions changed, rushing by at crazy speed. The stream did not end, carrying me into some amazing countries and worlds, not allowing you to wake up. Suddenly one of them flashed brighter than the others, and a stunning city was revealed to me... it was airy and transparent, as if created from White Light.
Postal code: 06059 (Codigo postal 06059)
Phone: +52 5237-2000
Fax: +52 5237-2070
Of. website: http://www.banxico.org.mx/
President: Agustin Guillermo Carstens
Vice Presidents: Roberto del Cueto Legaspi
Manuel Ramos Francia
Manuel Sanchez Gonzalez
Jose Julian Sidaoui Dib
Story
The Central Bank of Mexico (El Banco Central de Mexico) was founded on September 1, 1925 through the efforts of then Secretary of Finance Alberto J. Pani with the support of President Plutarco Elias Calles. However, attempts to create were made earlier - starting in the 20s of the 19th century, when during the reign of Emperor Agustin de Iturbide a project was presented to create an organization with the right to print money, which was called the “Great Bank of the Mexican Empire” (“Gran Banco del Imperio Mexicano". The project, however, was never brought to life.
The first major reform carried out by the bank took place in 1931-32. In July 1931, the controversial “Monetary Law” (“Ley Monetaria”) was promulgated, according to which the national currency was no longer pegged to gold. As a result, there was a shortage of cash for some time and there was even a national movement in support of banknotes issued by the Central Bank.
In 1935 the so-called outbreak broke out. The “silver crisis”, when, as a result of a sharp rise in silver prices, there was a very real risk that the value of Mexican silver coins by weight (which were issued in silver at that time) would exceed their face value. To avoid this, the Central Bank began issuing coins with a lower percentage of silver, and then generally replaced silver coins with paper banknotes, which people nicknamed “camarones”. As a result of these measures, the exchange rate of the Mexican peso against the dollar collapsed from its original 3.60 to 5 pesos per dollar.
During the Second World War, the Central Bank was faced with a sharp influx of foreign currencies in huge quantities, which European banks and ordinary citizens hastily exported from war-torn Europe. As a result, at this stage the Central Bank fought against currency speculators and their operations that could negatively affect the exchange rate national currency. During these years there was an unprecedented growth in deposits - by 50% in Mexico City and by 45% in the rest of the country. As a result, the Central Bank accumulated a significant amount of money supply. In 1948, the Central Bank let the peso exchange rate float freely, as a result of which the national currency dropped against the dollar to 8.65 pesos per dollar.
In 1952, the Central Bank was headed by Rodrigo Gomez. Together with his assistant, Antonio Ortiz Mena, he pursued such wise financial policies for the bank that between 1954 and 1970 the country's financial position was comparable to that of the United States. During those years, the current exchange rate of the peso was set at 12.50 pesos per dollar and remained stable for many subsequent years. At this time, wages of the population increased significantly, but prices remained at the same level. This period was called “stabilizing development” (“desarrollo estabilizador”).
After 1972 and until the end of the 80s, the Central Bank struggled with rising inflation. In the last years of the presidency of Miguel de la Madrid (1983-1988), through the efforts of the Central Bank, it was possible to bring the government, entrepreneurs, workers and employees to an agreement, which resulted in the signing of an agreement on linking wages and the national currency exchange rate to rising prices.
Currently, the Central Bank is completely autonomous. It successfully resisted the 1995 crisis and withstood the blow of the global economic crisis of 2008-10 with honor. The main stated goal of the Central Bank is to maintain the value of the national currency and improve the economic well-being of Mexicans. The Central Bank states that it “strives to be an ideal organization that deserves public confidence in achieving its stated objectives through its openness and transparency, as well as through its technical capabilities and ethical standards.”
Prices in new pesos are also denoted NP$.
IN major cities In addition to pesos, US dollars are accepted for payment.
How much money to take to Mexico - To answer this question, we suggest that you familiarize yourself with approximate prices.
Approximate prices in Mexico
- 1 liter of gasoline - 80 cents
- Average lunch - $30
- Fast food - 10-15 $
- Bottle of water - 1 $
- Bottle of wine - $10
- Entrance to attractions - about $40
BY THE WAY. The 10 Peso coin is considered the most beautiful coin in the world and has the Mayan calendar on one side.
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| 10 pesos - the most beautiful coin in the world |
Currency exchange in Mexico
You can exchange money in Mexico at the airport, hotel, bank or at special exchange offices “casas de cambio”. As in many countries, the exchange rate at the airport is not the best.
Bank operating hours: Mon-Fri 09:00-17:00, Sat 09:00-14:00, Sun - closed.
It is most profitable to exchange US dollars for pesos.
Credit cards are accepted almost everywhere in Mexico.
Tipping in Mexico
In Mexico, it is customary to tip 10% of the amount. You should also leave a tip for the porter and maid at the hotel - approximately $1. Leaving a tip in a taxi is at the discretion of the passenger.
Largest banks in Mexico
- Bank of Mexico is the central bank of Mexico.
- Banamex is Mexico's second largest bank.
- BBVA Bancomer is Mexico's largest financial institution and is a division of the Spanish banking group BBVA.
- BanRegio is a Mexican bank founded in 1994 with approximately 100 branches and 165 ATMs in Mexico.
- Banorte is one of the oldest and largest banks in Mexico, founded in 1899.
- HSBC Mexico is one of the four largest banks in Mexico. A division of the British financial group HSBC.
Bank of Mexico
The future client of a Mexican bank, of course, is concerned about the reliability of the Mexican banking system. In addition, each client wants to understand the features of the banking system, the programs that are provided to users and the list of large Mexican banks that have earned a good reputation. This article will talk about how to open an account in a Mexican bank, what commission is charged when performing financial transactions at ATMs, as well as which foreign banks have their branches in this country.
Mexican banks have their own characteristics that directly affect clients and their accounts. For example, only a resident of Mexico can get a credit card, and it is worth considering that the interest rates on payments are high, and the loan limit does not exceed 15,000 pesos. Money in the account is stored only in national currency, even if you transfer funds to an account from another country, in foreign currency, the amount will be automatically converted into pesos. Also, when withdrawing cash, citizen clients of foreign banks should be aware that their home bank withdraws a commission in accordance with the user’s conditions, and also each Mexican bank through whose ATM the transaction is made withdraws its own fixed amount.
Overview of the main banks in Mexico
Major Mexican banks offer their clients a reliable level of protection and a wide range of services. Most branches are open from 8.00 to 19.00. There are a huge number of ATMs available throughout the city where you can withdraw cash, but it is advisable to avoid such transactions after dark.
Banco De México is the central bank of Mexico. It is autonomous both in its activities and in its management. Its main function is to provide national currency to the Mexican economy, and its main priority is to ensure the stability of the purchasing power of the national currency. Its other functions are to promote the development of the financial system and the optimal functioning of payment systems.
BBVA
BBVA BBVA Bancomer is the country's largest financial institution, controlling about 20% of the market.
Banking programs for clients:
- Libretón Premium – the ability to link your loans, investments, insurance, loans and salaries;
- safe shopping in thousands of stores in Mexico and around the world;
- servicing your international debit card using Bancomer Móvil and com;
- “Withdrawal without card” option at BBVA Bancomer ATMs;
- making purchases through a mobile phone application;
- assistance in planning trips;
- cash withdrawal in local currency;
- The maximum balance is $15,000.
It is the second largest bank in Mexico. System control and security guarantee protection 24 hours a day, 365 days a year. The bank's technologies and guarantees are based on the highest international security standards.
The bank provides users with the opportunity to create joint accounts, keep maximum balances and allows a high number of transactions. Managing your account is easy and convenient through your personal account, open on the official website. Clients can make transfers, payments to third parties, interbank payments, national payment orders, make payments for services and write checks.
This financial company, through its subsidiaries, provides banking and related services in Mexico. The sixth largest bank in Mexico by assets, it provides banking and credit services and operates as a fiduciary company. Its services include deposits, mortgage and car loans, loan processing and debit cards, financial leasing, currency exchange, investment products and trusts.
Inbursa operates Seguros Inbursa, which offers fire and accident insurance, automobile, maritime transport, civilian individuals or entire groups. The Inbursa pension program operates in the life insurance, pension insurance administration and social security sectors.
The bank offers time and demand deposits, personal loans, mortgage loans, commercial loans, personal loans, car loans and business loans. Handles registration credit cards and letters of credit. The company also provides buyout transactions, financial leasing, insurance and foreign exchange services, as well as wealth management and asset management services. The bank has 143 branches, 267 ATMs and 13.5 thousand POS terminals.
Main foreign banks in Mexico
Since the 2000s, foreign banks began to appear in Mexico. Thus, since 2015, the following large financial institutions have been operating here:
- Sabadell – Spanish bank;
- ICBC – industrial and commercial bank of China;
- Shinhan Bank - bank of Korea;
- Mizuho is a bank in Japan.
In addition, Canada's largest bank, ScotiaBank, operates in Mexico. In it, clients can use a wide variety of services from managing their own in cash, to investment banking.
Instructions: how to open a bank account
This operation can be carried out mainly by residents of Mexico. In order to open an account, you need to prepare a package of documents, which includes:
- passport;
- a document confirming the address of residence in Mexico, this could be a utility bill for the apartment of a friend or relative living in Mexico, and it is not at all necessary that the name of the person wishing to open a bank account be indicated there;
- in the application form it will be necessary to indicate the names, surnames and contacts of two residents of Mexico who will be able to recommend the person wishing to open an account as a dutiful and respectable citizen.
If all conditions are met and available Required documents in good condition, the account opening procedure will not take more than a quarter of an hour. The client immediately receives a debit card without a personal name; to receive a personalized card, you will need to wait 8 days. From the moment the account is opened, the client receives access keys to use electronic banking, and the card itself will be activated after replenishing the amount of 5,000 pesos.
Therefore in Lately For many, the method of opening a bank account via the Internet has become popular. At the same time, it is important to use the services of a foreign website - an official banking resource.
Each bank has a “Services” section on its official website. Here, customers are offered account options to open a personal account. Once the client has made his choice, the following steps must be taken:
- click the “open account” button;
- fill out the form to open a record, this includes: information about the client, contacts, email address;
- after this, you must wait for a connection with a bank representative to confirm the information;
- making a down payment;
- creation of a personal user account for managing accounts through a bank.
After this, the client can log into his account and use an officially opened account if he has replenished the balance with the required amount.
Fee for cash withdrawals from ATMs
There are ATMs of various banks in Mexico in both large and small cities. It is worth noting that all Mexican ATMs charge a standard commission, except for the one charged by the issuing bank for the transaction. The amount of the commission depends not on the withdrawal amount, but on the ATM; in some the commission will be 20-30 pesos, while in others this amount can reach up to 70 pesos per transaction. Therefore, the commission for the operation is the percentage that the home bank withdraws + the percentage that the ATM in Mexico withdraws. Therefore, it is better to immediately withdraw the required large amount and not lose extra money on commissions.
Before the operation is performed, a message will appear on the ATM monitor indicating how much commission will be debited from the account. The lowest commission at HSBC ATMs is 20-30 pesos.
