[yefragetuwrabrumuy]

The Peso was devalued in 1976, 1985, and 1994, the last of which had the changeover to the New Peso, which stripped three zeros from the value of the old Peso.

http://timothytaylor.net/1995/031695.htm

[DeFault User]

The Peso was devalued in 1976, 1985, and 1994

Yep, I remember some of those devaluations and the 5-6 cents exchange rate. So the headline today is misleading except that the current peso is ridiculous compared to what it was 40-50 years ago.

[Jeff Chandler]

Yep. Before 76 it was 12.5 pesos to the dollar. We rounded, e.g.: 3 pesos made a quarter, etc. In Ensenada, a movie was 6 pesos. 5 pesos bought a beer at Hussongs.