Dollar to Peso Exchange Rate: Mexico Sees 17.80 MXN/USD on March 7, 2026
Mexico’s peso continued its downward trend against the U.S. Dollar on Saturday, , reaching 17.80 pesos per dollar, a level not seen in recent months. The decline is linked to escalating geopolitical tensions in the Middle East and their impact on global oil prices, prompting investors to seek the relative safety of the dollar.
Peso Weakens Amid Middle East Conflict
The weakening of the Mexican peso is directly tied to the conflict between the United States and the Middle East, which has disrupted oil trade through the Strait of Ormuz – a critical waterway for approximately 20% of the world’s oil supply. This disruption has led to increased oil prices and a corresponding devaluation of the peso, as investors move towards the dollar as a safe haven asset. The current exchange rate represents a significant increase from rates seen in recent months, reversing a period of peso strength experienced in October 2025.
Exchange Rate Details – March 7, 2026
According to the Banco de México (Banxico), the official FIX exchange rate on , was 17.6770 pesos per dollar. However, rates varied across financial institutions. A sampling of rates as of , shows:
- Afirme: Purchase – 16.50 MXN, Sale – 17.90 MXN
- Banco Azteca: Purchase – 16.25 MXN, Sale – 18.04 MXN
- Bank of America: Purchase – 16.4474 MXN, Sale – 18.3824 MXN
- Banorte: Purchase – 16.25 MXN, Sale – 17.80 MXN
- BBVA Bancomer: Purchase – 16.65 MXN, Sale – 17.79 MXN
- Grupo Financiero Multiva: Purchase – 17.51 MXN, Sale – 17.51 MXN
- Intercam: Purchase – 16.8604 MXN, Sale – 17.8709 MXN
- BX+: Purchase – 16.9455 MXN, Sale – 17.9605 MXN
These fluctuations reflect internal adjustments and varying policies among banks. The ranges reflect slight differences due to banking schedules and internal policies.
Banxico FIX Rate: A Key Benchmark
The Banxico FIX rate serves as a crucial benchmark for the Mexican financial market. Calculated as a weighted average of wholesale market transactions, it ensures transparency and stability in currency exchange. The FIX is determined daily, based on transactions occurring around noon, and is published in the Diario Oficial de la Federación (DOF) the following day. This rate is used to settle obligations and contracts denominated in dollars that are liquidated in Mexico.
Distinction Between Banxico Rate and Market Price
It’s important to understand the difference between the Banco de México (Banxico) FIX rate and the price found in the open market. The Banxico FIX is a reference rate calculated from wholesale transactions and remains fixed until the next business day. The market price, however, is the rate at which dollars are actually bought and sold at banks and exchange houses, and it fluctuates constantly based on supply and demand, economic expectations, and global events. The market price typically includes commissions and profit margins, making it slightly higher than the FIX rate.
Impact of U.S. Inflation
Inflation in the United States also plays a significant role in the peso’s performance. Lower-than-expected U.S. Inflation, as seen recently, can lead to expectations that the Federal Reserve may pause or reduce interest rate hikes. This weakens the dollar and generally strengthens the Mexican peso. Conversely, higher U.S. Inflation typically strengthens the dollar as the Fed is expected to raise rates to combat rising prices.
Recent Volatility
Data from , shows the exchange rate fluctuating between a high of 17.8909 on , and a low of 17.2195 on . The largest 24-hour price movement occurred on , with a 1.120% increase in value. As of , the exchange rate is 17.797, reflecting a 2.71% change over the past week.
The peso’s performance is closely monitored due to its impact on remittances, international trade, and financial transactions for millions of Mexicans.