The Mexican peso rose together with other Latin American currencies against the US dollar after US wage growth disappointed markets. The peso was surprisingly firm lately despite all the negative implications the Donald Trump’s presidency has for Mexico’s economy and currency.
Mexican Peso MXN
Central Bank: Bank of Mexico
Public Debt to GDP Ratio, 2015: 45.2%
Trade Balance, 2015: -$3.9 bln.
Inflation, 2015: 2.7%
High-yielding interest rates
Factors of Weakness
High-risk emerging economy
The Mexican peso is the currency of Mexico, while it has also limited use in border areas of the United States. The modern version of the currency was introduced in 1993, replacing the old currency that had faced a massive devaluation. Mexico’s peso is the most-traded currency in Latin America. The Mexican economy is export oriented. Most of the country’s exports go to the United States and Canada.
Mexican Peso News Archive
The Mexican peso climbed against the US dollar even though the same uncertainties about US international relations that plague the greenback should have been detrimental for Mexico’s currency as well.
The Mexican peso traded a bit higher against the US dollar following Thursday’s decision of the Mexican central bank to hike interest rates.
The recent slump of the Mexican peso, which followed the unexpected outcome of the US presidential elections prompted the central bank of Mexico to raise interest rates yesterday. But that did not help the currency much, and it continued its drop today.
The Mexican peso tanked after Republican candidate Donald Trump won the US presidential elections, and the currency continued sinking today.
The Mexican peso climbed today after the Federal Bureau of Investigation said that it found no evidence of crime in Hillary Clinton’s emails, boosting her chances for victory in the US presidential elections.
The Mexican peso rallied today after the second US presidential debates ended and it looked like chances for victory in the race remained in favor of Hillary Clinton.
The Mexican peso was little changed against the US dollar at the start of Friday’s trading after the release of a current account report on Thursday that showed an increase of a deficit.
The Mexican peso trades below the opening level as of now even though the nation’s central bank made a bigger interest rate hike than experts had predicted.
The Mexican peso dropped against the US dollar today as the market sentiment was detrimental to risky assets of emerging markets.