Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. However, Monex is more cautious and estimates an exchange rate of 19.10 pesos per dollar by year-end, with a downward bias.During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Upcoming elections in both Mexico and the United States may also lead to exchange rate volatility, compounding existing challenges.Īccording to Banco Base’s projections, if the currency maintains the trend observed since July 2022, it could reach 16.74 pesos per dollar in 2023. Nevertheless, Arias notes persistent concerns of a potential economic downturn in the United States, which could cast a global shadow over the financial landscape. No ominous clouds loom on the horizon to mar the optimistic trend of the Mexican peso. And with our daily summaries, you’ll never miss out on the latest news. On the flip side, a strong peso inhibits export competitiveness and industries like tourism that bring in foreign currency, while also reducing the purchasing power of Mexicans who depend on regular remittances from abroad. 1 USD 16.92500 MXN As of 1 min ago, 1 USD 16.9250 MXN Mid market rate 48 hours 1 week 1 month 6 months 12 months 5 years Jun 11 Jul 11 Waiting on a better rate Set an alert now, and we’ll tell you when it gets better. Investors who placed bets on peso-denominated assets have seen healthy returns, which in turn stimulated nearshoring and the Mexican economy overall.Įxchange rates below 17 pesos to the dollar generally benefit importers and public debt management, and also help curb prices of imported goods. The stars have aligned in favor of the Mexican currency, with record-breaking remittance data, growing exports, and the interest rate differential between Mexico (11.25%) and the United States (5-5.25%). It has withstood choppiness in capital markets for months, and year-to-date, it has experienced a noteworthy appreciation of over 12.3% compared to the dollar. US Dollar to Philippine Peso: Todays Live USD/PHP Exchange Rate Data, Chart, Statistics, Volumes and History 56.1285 () 54.3394 (). If the latest US employment data (released on July 7) is favorable, which it was, Monex estimates the Mexican peso could reach 16.80 to the dollar.Įxperts unanimously acknowledge the remarkable resilience of the Mexican peso against the dollar. It’s also a reaction to the anticipated influx of dollars resulting from nearshoring – companies relocating to Mexico to be near US markets. Gabriela Siller, Banco Base’s director of analysis, says that the peso’s appreciation is due to greater demand for the currency as an investment asset, and not because of weakness in the US dollar. “The movement left us speechless – it’s the absolute best scenario,” said Marcos Arias, an analyst at Grupo Financiero Monex. Several factors contributed to this unprecedented achievement: the Bank of Mexico’s decision to hold interest rates at 11.25% stable public finances and rosy forecasts of increased nearshoring exports and investments. The peso surged again in early July after data showed that positive remittances (money flowing from the US to Mexico) hit a new record in May: a staggering $5.693 billion. The currency recently dropped below 16.98 to the US dollar, a level not seen since December 2015. Mexico’s peso is enjoying its best performance in the past eight years. Mexican peso exchange rates since mid-2021.
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