Anyone know Pesos?
 

I was given some several years ago. I know they did a reduction on the value but I don't know if these are per reduction or post.

Anyone?

http://forums.pelicanparts.com/uploa...1390421125.jpg

$260 or so American, assuming they are valid, etc.

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Did some reading and looked at the dates on the bills (1983 & 1984) might not be worth that much.

I remember a buddy bought Pesos because he was getting 15% return on them. Two months after buying $10K US of them they were devalued to almost nothing.

" the nuevo peso (new peso) was the result of hyperinflation in Mexico. In 1993, Presidente Carlos Salinas de Gortari stripped three zeros from the peso, creating a parity of $1 New Peso for $1000 of the old ones.

The transition was done both by having the people trade in their old notes, and by removing the old notes from circulation at the banks, over a period of three years from January 1, 1993 to January 1, 1996. At that time, the word "nuevo" was removed from all new currency being printed and the "nuevo" notes were retired from circulation, thus returning the currency and the notes to be denominated just "peso" again.

Confusion was avoided by making the "nuevo peso" currency almost identical to the old "peso". Both of them circulated at the same time, while all currency that only said "peso" was removed from circulation. The Banco de México (Bank of Mexico) then issued new currency with new graphics, also under the "nuevo peso". These were followed in due course by the current, almost identical, "peso" currency without the word "nuevo".

The sad thing is that the exchange rate was around 4000 to the $1 when the change occurred. The exchange rate is around 13 to one now, or less than one third.

I remember around 1974, the peso was 12 1/2 pesos per dollar. Lots of Mexican nationals had money in U.S. banks. The Mexican government went on a big campaign calling for Mexicans to invest in Mexico by returning their money to Mexican banks on a patriotic basis. Mexican banks were paying great interest rates and some Americans had money there also and lots of Mexicans did return their money to Mexican banks. Shortly thereafter, the peso was devalued to more than 20p/$1 and kept rising. I felt sorry for those who lost money in this scenario, and the Mexicans who lost money felt betrayed again.