EUR/MXN price
EURMXN Key Statistics
Trading hours
Symbol trading specification
About EURMXN
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.