The peso is the currency of Mexico. The peso was the first currency in the world to use the “$” sign, which the United States dollar later adopted for its own use when the United States adopted the peso as currency during a period before adopting the dollar. The peso is the 12th most traded currency in the world and by far the most traded currency in Latin America and third most traded in all the Americas. The current ISO 4217 code for the peso is MXN; prior to the 1993 revaluation, the code MXP was used. The peso is subdivided into 100 centavos, represented by “¢”. The name was originally used in reference to pesos oro (gold weights) or pesos plata (silver weights). The literal English translation of the Spanish word peso is weight. The Banco de Mexico started issuing these 50 Pesos banknotes in 1994. The banknote of 50 Pesos depicts the portrait of José María Morelos, a Roman Catholic priest who became the leader in the war for independence, and was declared Mexico’s first President in 1814, despite the fighting with Spain continuing.