Currency pair EURMXN is an exotic currency pair in which euro is the base currency, and Mexican peso — quoted. This financial instrument has no special popularity in the Forex market. The quote of EURMXN trading instrument shows how many Mexican pesos it is necessary to pay for one euro. The currency pair behaves rather quietly. The greatest activity of the pair can be noticed in working hours of the European exchanges.
The Mexican peso is the state currency of Mexico and today it is considered the most popular currency in Latin America. Since 2008, the Mexican peso was included into the list of freely convertible currencies used in case of calculations in the international interbank system.
Currency pair EURMXN directly depends on the economic welfare of Latin America and the European Union. The economic situation of Mexico directly depends on oil export and active trading with the neighbors — Canada and the USA. The economic situation of the European Union is at the high level that in turn fruitfully influences euro, and allows to be high on the list in the exchange market.