MXN/JPY exchange rate
MXN/JPY historical chart
MXN/JPY daily reference conversion rate
As of 2026-09-18 00:00:00 UTC, MXN/JPY (Mexican Peso / Japanese Yen) is 9.1645, reconciled from ECB ref · live spot and refreshed every 1-minute ingest / daily reference fallback. Every observation is point-in-time and labels its source class and timestamp — backtest-safe and reproducible. MXN/JPY is available over the REST API and an MCP server on exchangerate.dev, with a free tier to start.
MXN to JPY and JPY to MXN
How do I query MXN/JPY?
One authenticated GET returns the latest value with its timestamp and source. Swap the language tab for your stack.
Reference
Latest MXN/JPY indicative spot rate — value, timestamp, source, and market_session.
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Use MXN/JPY in your application
Try the current indicative rate without a key. The response labels sources.JPY, effective_at.JPY and market_session; check those fields before treating a value as fresh.
curl -fsS "https://api.exchangerate.dev/v1/latest/MXN?symbols=JPY"Daily reference history is available where this pair has published observations. This pair is eligible for intraday market observations at 1m, 5m, 15m, 1h, 4h; missing buckets remain gaps. This pair is also eligible for authenticated WebSocket updates. See interval and history limits · WebSocket integration guide · Plan and commercial-use details.
MXN/JPY — Peso-Yen Carry and NAFTA/USMCA Flows
MXN/JPY is the carry-trade cross between the Mexican peso and the Japanese yen. Mexico's proximity to the US — its largest trading partner — and its exposure to oil exports make the peso sensitive to US economic conditions, USMCA trade flows, and energy prices. Combined with yen safe-haven dynamics, the pair has a rich macro driver set.
Japan and Mexico run meaningful trade and investment flows, particularly in the automotive sector. Japanese automakers have large manufacturing footprints in Mexico, and repatriation of profits between the two countries creates bilateral FX demand.
The Banco de México (Banxico) has historically held rates well above the Fed to attract capital and support the peso, while the BoJ has held near zero. The resulting carry is one of the largest in G20 currency pairs.
Rates shown are indicative from aggregated market data and public reference rates. Not for settlement.
Frequently asked questions
- What is the typical MXN/JPY carry premium?
- When Banxico holds rates at 11% and the BoJ at 0.1%, the annualized carry exceeds 1,000 basis points (10%). Narrowed carry in recent BoJ normalization cycles compressed this, but the differential remains large by G10/EM standards.
- How does USMCA affect the Mexican peso?
- The United States-Mexico-Canada Agreement locks in trade preferences that support Mexican manufacturing exports. Any threat to USMCA — renegotiation, tariff threats — is a negative for MXN and can move MXN/JPY sharply.
- Does oil price matter for MXN/JPY?
- Yes, through Mexico's state oil company Pemex and export revenues. Rising oil prices support the peso (higher MXN/JPY); falling oil adds fiscal pressure to Mexico, weakening MXN.
- Why is MXN/JPY popular in Japan?
- The large interest-rate differential has made it a retail carry-trade favorite for decades among Japanese investors. Periodic sharp devaluations (2008, 2016, 2020) have burned carry traders, but the premium regularly rebuilds.
- How does the US Federal Reserve affect MXN/JPY?
- Indirectly but significantly. Fed tightening strengthens USD, which often weakens EM currencies including MXN (USD/MXN rises). Banxico typically follows the Fed to maintain the rate differential, but rate expectations relative to the US still drive short-term MXN volatility.
- Is MXN/JPY available on the free tier of the API?
- Yes. Both MXN and JPY are in the live-updating currency set. Free-tier users get the live indicative rate with source and market_session on every call.
- Does remittance flow between Mexico and Japan affect the pair?
- Mexican diaspora remittances are a major national income source but are primarily USD-denominated flows. Mexico–Japan bilateral remittance is small relative to automotive investment flows.