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The peso, seen as vulnerable to new tariffs Trump plans to impose, is down 4% from its September high. MSCI's gauge for Latin American currencies has slipped over 3% during that period.
Bets on the Mexican peso or other tariff-exposed emerging market currencies were too risky, said Fidelity International multi-asset manager Becky Qin. "It is so binary and so dependent on the ...
The central bank, also known as Banxico, began a rate hiking cycle in June 2021 to tame high inflation and has held the key rate at its current record-high level of 11.25% since March 2023.
The Mexican peso is the 16th most traded currency in the world, the third most traded currency from the Americas (after the United States dollar and Canadian dollar), and the most traded currency from Latin America. [5] As of 2 January 2025, the peso's exchange rate was $21.16 per euro, $20.62 per U.S. dollar, and $14.28 per Canadian dollar.
TIIE (Spanish: Tasa de interés interbancaria de equilibrio, English Interbank Equilibrium Interest Rate) is a reference rate for the currency Mexican peso. The TIIE is a representative rate of credit operations between banks and is calculated by the Bank of Mexico .
De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating ( floating and free floating ) Soft pegs ( conventional peg , stabilized arrangement , crawling peg , crawl-like arrangement , pegged exchange rate within horizontal bands )
And while the average 30-year mortgage rate has cooled off a bit from the peak of about 8%, rates are still in the 6.5% ballpark, more than double their level at the beginning of 2022.
USD/MXN exchange rate Mexico inflation rate 1970-2022. The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.