This page shows the Banco de Guatemala (Banguat) reference rate for the Mexican peso against the quetzal, refreshed from Banguat data each business day in the box above. Below: how Banguat calculates that figure, what it does not tell you (the price a bank or casa de cambio will actually give you), where to exchange pesos, and how the rate has moved over the past 12 months.
MXN/Q Rates at Guatemalan Banks
We do not publish a per-bank MXN table. An earlier version of this page showed one, but those figures were estimates worked out from the US-dollar rate, not quotes published by the banks, so we removed it rather than show numbers no bank published. For today’s US-dollar rates at each bank, see the exchange rate page; for MXN cash, ask the branch for its tipo de cambio del día.
Not every branch handles Mexican peso cash. Ask before you go, and get the rate before you exchange.
How Banguat Calculates the MXN/Q Reference
Banguat’s reference-rate page describes two steps:
- The US-dollar reference. Banguat calculates the quetzal rate against the US dollar every day from the operations reported by the institutions of the Mercado Institucional de Divisas (banks, private financial companies, stock exchanges and casas de cambio). The buy and sell references are the weighted average of the buy and sell operations those institutions report, and they take effect from midnight of the business day after the calculation date.
- Other currencies, including the Mexican peso. Between 8:00 and 9:00 each morning, Banguat obtains international quotes for other currencies from a specialized information service and combines them with its US-dollar reference. The result is the quetzal reference rate for that currency, valid for the day it refers to. Banguat’s list includes the euro, pound sterling, Swiss franc, Canadian dollar, Mexican peso, Japanese yen, Salvadoran colón, Honduran lempira, Nicaraguan córdoba and Costa Rican colón.
In Banguat’s exchange-rate web service the Mexican peso is currency code 18, and it is quoted as pesos per US dollar. To get quetzales per peso, divide:
Quetzales per 1 MXN = (quetzales per USD) ÷ (pesos per USD)
Pesos per Q1 = (pesos per USD) ÷ (quetzales per USD)
The box at the top of this page shows that calculation with the latest Banguat inputs and its data date.
What the Reference Does Not Tell You
The Banguat figure is a reference, not a price anyone will pay you at a counter. Banks and casas de cambio set their own buy and sell prices for peso cash, and some do not handle pesos at all. Before you exchange:
- Ask for the buy price (what they pay you for your pesos), not the sell price.
- Compare that buy price with the reference above. The gap between the two is what the exchange costs you.
- Ask whether any commission is charged on top of the rate.
Where to Exchange Mexican Pesos in Guatemala
Banks and casas de cambio
Banks and casas de cambio are among the institutions that report their currency operations to Banguat. Not every branch handles Mexican peso cash: ask before you go, and ask for the rate before you exchange.
At a land crossing from Mexico
If you are crossing by land from Mexico, compare the rate at more than one exchange counter before you change money. Use an established business rather than informal street changers: if the notes or the count turn out wrong, you have no recourse.
Guatemala City casas de cambio
If a casa de cambio in Guatemala City accepts MXN cash, ask for its rate before you exchange.
Transfers from a Mexican account
For money sent from a Mexican bank account, compare the total cost (exchange rate plus fees) across your bank’s international wire, money-transfer services and digital providers before you send. The rate each provider applies is its own, not the Banguat reference, so check the amount in quetzales the recipient will actually receive. See the remittance comparison and the international wire transfers guide.
Airport
At an airport exchange counter, compare its rate with the reference above, and ask first whether it handles pesos. Compare first, and exchange only what you need on arrival.
For Mexican Visitors, Residents and Cross-Border Workers
- Cards. A card payment uses the card network’s exchange rate plus any fee your card issuer charges. Check your card’s foreign-transaction terms before you travel.
- ATMs. If you withdraw quetzales with a Mexican debit card, the ATM shows its fee on screen before you confirm. Your own bank may charge as well.
- Cash. Carry only the peso cash you plan to exchange, and exchange it where you have compared the rate.
- Regular conversions. If you earn or spend in both currencies, check the reference on this page before each conversion and compare it with the quote you are offered.
MXN/Q: 12-Month Banguat Range
Banguat reference, quetzales per Mexican peso (mid of buy and sell), from Banguat daily data covering 265 business days between 2025-11-03 and 2026-11-06:
| Date | Quetzales per 1 MXN |
|---|---|
| 2025-11-03 | Q0.41426 |
| 2026-01-01 | Q0.42584 |
| 2026-02-02 | Q0.44059 |
| 2026-05-01 | Q0.43744 |
| 2026-07-01 | Q0.43555 |
| 2026-09-01 | Q0.44992 |
| 2026-10-01 | Q0.41986 |
| 2026-11-06 | Q0.40951 |
- 12-month low: Q0.40534 (2026-10-30)
- 12-month high: Q0.45169 (2026-09-09)
Over the same window, Banguat’s US-dollar reference stayed between Q7.61364 (2026-06-16) and Q7.66827 (2026-01-20). Because the quetzal-per-dollar leg moved within that narrow band, most of the movement in MXN/Q came from the peso’s quote against the dollar.
We do not publish forecasts for MXN/Q. For a conversion that matters, check the box at the top of this page on the day, then compare the actual quotes you are offered.
How We Verify This Page
Sources: Banco de Guatemala, page Tipos de cambio de referencia (method for the US-dollar reference and for other currencies, and the list of currencies covered); Banguat’s exchange-rate web service list of currency codes (Mexican peso = code 18); and Banguat daily data from 2025-11-03 to 2026-11-06 for the 12-month range above. Captured 2026-11-08. The rate in the box at the top is refreshed from Banguat data each business day and shows its own data date.
Related Currencies and Resources
- USD to Quetzal (live Banguat reference) — The US-dollar reference Banguat uses to calculate MXN/Q
- CAD to Quetzal — For Canadian snowbirds and retirees
- EUR to Quetzal — For European tourists and EU pension recipients
- GBP to Quetzal — For British retirees and UK visitors
- All currencies hub — Multi-currency comparison
- USD accounts in Guatemala — Holding US dollars in a Guatemalan account
- International wire transfers — Bank-to-bank transfers into Guatemala
- Remittance comparison — Wise, Remitly, Western Union side-by-side
Frequently Asked Questions
What is the MXN to quetzal rate today?
1 MXN = Q0.4095 from Banco de Guatemala data dated 2026-11-06. It is a reference, not a bank’s buy or sell quote; ask the branch.
Does Banguat publish a quetzal rate for the Mexican peso?
Yes. Banco de Guatemala (Banguat) says that, besides the US dollar, it also calculates quetzal reference rates for other foreign currencies, and the Mexican peso is on its list, together with the euro, pound sterling, Swiss franc, Canadian dollar, Japanese yen and four Central American currencies. Each of these references applies for the day it refers to.
How does Banguat calculate the MXN/Q reference?
Each morning, between 8:00 and 9:00, Banguat takes international quotes for these currencies from a specialized information service and combines them with its quetzal reference rate for the US dollar. Banguat’s service quotes the peso as pesos per US dollar, so the quetzal value of one peso is the quetzal-per-dollar reference divided by the pesos-per-dollar quote. The dollar reference itself is the weighted average of the buy and sell operations reported by the banks, private financial companies, stock exchanges and casas de cambio that make up the Mercado Institucional de Divisas.
Which bank gives the best MXN rate in Guatemala?
We do not publish a per-bank MXN table. Each bank and casa de cambio sets its own buy and sell price; the Banguat reference is not an offer from any of them. Ask the branch for its tipo de cambio del día for peso cash, confirm that it handles pesos at all, and compare its buy price with the reference on this page.
Where can I exchange Mexican pesos in Guatemala?
At a bank or a casa de cambio that handles peso cash. Ask before you go, and get the rate before you hand over cash. If you cross by land from Mexico, compare the rate at more than one exchange counter, and use an established business rather than informal street changers: if the notes or the count turn out wrong, you have no recourse.
How has the MXN/Q rate moved over the past year?
Between 2025-11-03 and 2026-11-06, the Banguat reference for one Mexican peso ranged from a low of Q0.40534 (2026-10-30) to a high of Q0.45169 (2026-09-09). It was Q0.41426 on 2025-11-03. We do not publish forecasts.
How do I send Mexican pesos to Guatemala?
Compare the total cost (exchange rate plus fees) across your bank’s international wire, money-transfer services and digital providers before you send. The rate each provider applies is its own, not the Banguat reference, so check the amount in quetzales the recipient will actually receive.
Should I exchange pesos at the airport?
At an airport exchange counter, compare its rate with the reference above, and ask first whether it handles pesos. Compare first, and exchange only what you need on arrival.
