100 Pesos

This note belongs to the "D" series issued by Banco de México during a period of forced institutional discipline following the catastrophic 1994–95 peso crisis, when the currency lost roughly half its value against the dollar in a matter of weeks. The Banco de México had only received formal constitutional independence in April 1994 — months before the devaluation it was powerless to prevent — and the notes circulating through the late 1990s did so against a backdrop of IMF restructuring and a $50 billion emergency stabilization package.

Printed on cotton substrate with a watermark as the primary security feature, the note predates the polymer and holographic upgrades that arrived with later Banco de México series. The 100-peso denomination was heavily used in daily retail transactions throughout this stretch, meaning worn survivors significantly outnumber uncirculated ones.