Peso Plummets Below 17 Units Per Dollar Amid Global Economic Uncertainty

The Mexican peso has broken below the 17-unit-per-dollar floor, trading at around 16.98 per U.S. dollar in wholesale transactions early Friday before inching up to just over 17.

This milestone reinforces the strength of the local currency in international financial markets and attracts investor attention.

According to Bloomberg, the rate represents an appreciation of 0.20% for the peso, equivalent to a drop of 3.39 cents for the U.S. dollar.

The last time the intraday exchange rate fell below 17 was on June 3, 2024.