As of Aug. 13, 2015, one Mexican peso is equivalent to six cents in American dollars, as stated by Xe.com. This website uses real-time exchange rate feeds from various forex markets to convert currencies.
The current ISO 4217 code for Mexican peso is MXN, and its current denominations are $20, $50, $100, $200, and $500, according to Wikipedia. In the U.S., some stores near the U.S.-Mexico border accept Mexican pesos as currency. A Mexican pizza restaurant chain known as Pizza Patrón in southwest U.S. started to accept pesos in 2007. In border towns of Guatemala and Belize, some establishments also accept Mexican pesos.