Currencies in Latin America play a crucial role in the economies of their respective countries. Each currency has unique characteristics reflecting its country's history, stability, and challenges, spanning from Central America to South America.

Don’t know them all?

Stay with us to discover the currency used in each country, which is the strongest and most devalued. You’ll also learn about their relevance and current value against the dollar.

Latin American Currencies: A Country-by-Country List

Latin American Currencies and Their Value

It’s estimated there are around 180 currencies worldwide, with 20 officially used in Latin America.

Additionally, seven countries share the "peso" as their currency unit, though each differs in value and design. Other countries share the same currency.

Here are some Latin American currencies and their values:

1. Mexican Peso (MXN) 

Since 1863, the Mexican peso has been Mexico's official currency and is among the most globally used, ranking 15th worldwide and first in Latin America by transaction volume.

In Mexico, different types of coins and bills of $20, $50, $100, $200, $500 and $1,000 circulate. Including the series launched in 2018, the “Familia G”, with new designs that highlight the country's natural and historical heritage.

Current value against the dollar: 20.48 MXN per USD.

2. Chilean Peso (CLP) 

The Chilean peso, official since 1975, is named after the "casa milésima," symbolizing the unit of thousandths. It’s one of Latin America's most stable currencies. Chilean banknotes are vibrant and range from 1,000 to 20,000 CLP, with coins of 10, 50, 100, and 500 CLP.

Current value against the dollar: 947 CLP per USD.

3. Brazilian Real (BRL) 

Introduced in 1994 as part of an economic stabilization plan to curb hyperinflation, the Brazilian real is the second most traded currency in Latin America and ranks 16th globally. Banknote denominations include R$ 2, R$ 5, R$ 10, R$ 20, R$ 50, R$ 100, and R$ 200, with coins of 5¢, 10¢, 25¢, 50¢, and R$ 1.

Current value against the dollar: 5.72 BRL per USD.

4. Argentine Peso (ARS) 

Official since 1992, replacing the austral, the Argentine peso aimed to stabilize the economy. Despite sharing its name with other regional currencies, it has unique characteristics. However, recent decades have seen high inflation and devaluation. Today, banknotes range from 10 to 20,000 pesos, and coins are rarely used.

Current value against the dollar: 1,072 ARS per USD.

5. Uruguayan Peso (UYU) 

Uruguay adopted the peso in 1993 as part of economic reform. The currency symbolizes national identity, highlighting historical and cultural figures. Banknotes come in denominations of $20, $50, $100, $200, $500, $1,000, and $2,000, with coins of $1, $2, $5, $10, and $50.

Current value against the dollar: 42.18 UYU per USD.

6. Peruvian Sol (PEN) 

Official since 1991, the Peruvian sol has been crucial for consolidating economic growth and is now one of Latin America's most stable currencies. Denominations include S/10, S/20, S/50, S/100, and S/200 notes, and S/1, S/2, and S/5 coins, among others.

Current value against the dollar: 3.67 PEN per USD.

7. Colombian Peso (COP) 

Established in 1810, it’s among the oldest currencies listed here. Its evolving design reflects the country's history and modernization. Banknotes range from 2,000 to 100,000 COP, with circulating coins of 50, 100, 200, 500, and 1,000 COP.

Current value against the dollar: 4,169 COP per USD.

• Exchange rates were taken on April 1, 2025. Consult sources for today’s values.

The currencies mentioned are some of the most relevant in Latin America, the complete list is shown below.

Currency by Country in Latin America:

What Is the Strongest Currency in Latin America?

The Peruvian sol, a currency from South America, stood out as the strongest Latin American currency in 2024. Despite regional economic challenges, it maintained strong performance in the foreign exchange market. 

Similar to the world’s strongest currencies, its success is due to relatively stable economic policies and prudent monetary management, which have fostered both local and international confidence.

Most Devalued Latin American Currency

In 2024, the Peruvian sol had the lowest depreciation (1.6%), according to Valora Analitik, while other countries in Latin America experienced more significant devaluations:

• Brazilian real (27.3%), depreciating from 4.85 BRL per dollar to 6.17 BRL per dollar.

• Mexican peso (23%), recording its largest annual decline and closing the year at 20.82 MXN per dollar.

• Colombian peso (15.2%), depreciating to close at 4,827 COP per dollar.

• Chilean peso (12.5%), finishing the year at 1,012 CLP per dollar.

Fortunately, none of these currencies holds the title of the world's cheapest currency. Despite these setbacks, the Brazilian real and Chilean peso continue to be among the strongest currencies in Latin America.

DolarApp: Receive Payments with a Fixed Commission of 3 USDc

Are you from Argentina, Brazil, Colombia or Mexico? Manage your money in digital dollars to maintain its value. 

With DolarApp, you can activate an account in USDc that will allow you to send and receive digital dollars for a fixed fee of 3 USDc. It is an alternative if you want to preserve the stability of your money without worrying about exchange rate fluctuations.

In addition, you will be able to buy and sell USDc using your own pre-linked peso account. Of course, with a fair exchange rate for the moment.