Forex
Peso Surges Past 17 Per Dollar Amid Global Economic Uncertainty
The Mexican peso has broken through a key barrier, trading above 17 pesos per US dollar for the first time since June 3, 2024. According to wholesale transactions, the exchange rate rose to 16.9965 pesos per dollar before 8am Mexico City time on Friday.
This represents an appreciation of 0.20% for the peso, equivalent to a drop of 3.39 cents for the US dollar, according to Bloomberg.
The 'super peso' phenomenon is attributed to the global weakness of the US dollar amid increased uncertainty in the US economy, said Banamex analyst Paulina Anciola.