Mexico’s peso continues to demonstrate strength against the US dollar, a trend observed even on the typically inactive banking day of . The currency closed at 17.13 pesos per dollar, a 0.23% decrease from the previous day, according to Bloomberg data.
The peso’s positive performance follows a period of favorable market conditions spurred by a US Supreme Court ruling on Friday. The court’s decision against former President Trump’s generalized tariffs boosted investor confidence and benefited emerging market currencies like the Mexican peso. Trump subsequently announced a 10% global tariff, but the initial positive reaction to the court’s ruling continued to influence currency valuations.
As of , the mid-market exchange rate stood at 17.19 Mexican pesos per US dollar, reflecting a 0.32% increase from the previous day, according to Wise.com. Over the past week, the exchange rate has fluctuated between a high of 17.2841 pesos on , and a low of 17.0977 pesos on .
The relative stability of the US dollar against the peso over the last seven days is notable, with a 0.178% increase compared to its value a week prior. The largest 24-hour price movement occurred on , with a -0.317% increase in value.
While the peso has shown resilience, the global economic landscape continues to exert influence. The US Supreme Court’s decision and the subsequent tariff announcement by Trump introduce an element of uncertainty. The potential impact on trade, particularly within the US-Mexico-Canada Agreement (USMCA), remains a key consideration for investors.
As of today, , the average exchange rate at Mexican banks is approximately 17.13 pesos per dollar. Specific rates vary slightly between institutions:
- Afirme: Buy: 16.40 pesos, Sell: 17.80 pesos
- Banco Azteca: Buy: 16.95 pesos, Sell: 17.79 pesos
- Banorte: Buy: 15.95 pesos, Sell: 17.45 pesos
- Banamex: Buy: 16.63 pesos, Sell: 17.59 pesos
The Bank of Mexico’s interbank rate on Friday showed an opening rate of 17.1895 pesos, with a maximum of 17.195 pesos and a minimum of 17.12 pesos. Rates for obligations payments were recorded at 17.1722 pesos.
Looking at broader trends, the US dollar has depreciated -8.2964% against the Mexican peso since , when the exchange rate was 18.5620 pesos per dollar. On , the average exchange rate was 17.1699 pesos per dollar, a 0.22% increase from the previous day.
The performance of the peso is also being viewed in the context of Mexico’s political landscape. President Sheinbaum has urged calm following a federal operation targeting CJNG leader El Mencho, an event that triggered unrest across Mexico. The stability of the peso, despite this internal challenge, suggests continued investor confidence in the Mexican economy.
Year-to-date, the dollar has weakened against the peso by -0.76%, or -4.23%. Since President Biden took office, the dollar has depreciated -2.45%, or -12.48% against the peso. Under President AMLO, the dollar has fallen -2.92%, or -14.54%.