The EURMXN is an exotic currency pair because it involves a major currency and a currency from a developing or small economy. In the duo, EURO is the base currency and is the second most traded one on the forex market. Mexican Peso (MXN) is also a popular currency in Latin America.

What is EURMXN?

The EURMXN currency pair shows the number of MXNs a trader or investor must purchase, to buy one EURO. This currency pair has existed since the creation of the EURO as a currency on 1st January 1999. It's traded on the forex market using different trading approaches, including trend, breakout or news trading strategy, range trading or carry trading. If investors want to understand how to trade EURMXN they can start with a demo account on the SimpleFX platform.

How does EURMXN work?

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURMXN start without risking their real assets. Besides, a few factors also cause the exchange rate to change over time. As Mexico is an oil exporter, price fluctuations also affect the EURMXN exchange rate. Moreover, the central banks of both countries set the currency's interest rate. Therefore, before investing in the currency pair, investors must thoroughly research the trends and market performance.

EURMXN price history

The prime thing while considering investing in a currency pair is market research. The vital aspect is knowing about the currency pair's price history or past performance. Here's a summarized version of the EURMXN pair's performance from 2018-2022.

2018

The year began with an exchange rate of 23.611 MXN, and by its end, it dropped to 22.5791 MXN. The year's best performance of 24.3662 MXN was observed on 13th June 2018, and the worst exchange rate price was recorded on 7th August 2018, i.e., 21.4086 MXN. The average exchange rate of the year was 22.6894 MXN.

2019

On 1st January 2019, the exchange rate value of the year was 22.5049 MXN which was also the year's best. Whereas on 31st December 2019, the value was at 21.2511 MXN. The worst exchange rate of the year was 20.982 MXN, observed on 21st December 2019. The average EURMXN Price was 21.5526 MXN.

2020

The year started with the EURMXN value of 21.2132 MXN and ended at 24.3083 MXN. The exchange rate showed the best performance of 27.2945 MXN on 2nd May 2020; the worst rate of 20.0598 MXN was recorded on 19th February 2020. The year's average exchange price was 24.5174 MXN.

2021

At the start of the year, EURMXN's price was 24.1264 MXN; by the year's end, it was 23.3075 MXN. On 8th March 2021, the exchange rate was highest, i.e., 25.4775 MXN, and the worst exchange rate of 23.1681 MXN was recorded on 30th December 2021. The average exchange rate of the year was 23.9892 MXN.

2022

At the start of 2022, the exchange rate was 23.3134 MXN, and on 31st December 2022, the EURMXN was 20.8965 MXN. On 5th February and 3rd November, the best exchange rate of 23.6785 MXN and 19.182 MXN was recorded, respectively. The year's average value was 21.1961 MXN.

Current EURMXN price

The current EURMXN price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURMXN a good investment?

Whether EURMXN is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors worldwide.

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