The Mexican peso took a new breath during the trading day on January 23. In the morning he managed to open with numbers in his favor, which he maintained to close with significant profits. He US dollar quoted at closing 20.31 pesosso that it implied a change of 1% compared to the figure of the previous day, when it stood at 20.51 pesos.
It should be noted that in the last week, the US dollar notes a decrease in 2.34%; Despite this, in the last year it still maintains an increase in 18.99 percent.
This day of strengthening the Mexican peso takes place in the context of the World Economic Forum in DavosSwitzerland, in which the president of the United States, donald trumpmentioned that he is having a good relationship and negotiations with Mexico, after having threatened during the campaign to impose 25% tariffs on imports.
After a question from the president of Banco Santander, Ana Botín, about her approach to deregulation and reduction of bureaucracy, she stated: “I think we are dealing with Mexico very well and we only want to be treated fairly with other nations.”
We must not forget that Monex In his opening note he noted that the exchange rate remained positive, since Trump seems more relaxed on the tariff issue: “Today, the exchange rate continues to reverse the losses of the previous days, considering lower fears about the tariff measures of “Trump is already waiting for the decision of the Bank of Japan.”
The relationship between the United States and Mexico has historically been complex, marked by challenges and opportunities in areas such as trade, migration and security. Trump’s words, highlighting positive management of this relationship, suggest an attempt to project stability and cooperation.
The relationship peso-dollar During 2024 it was marked by contrasts. The year began with the Mexican currency strengthening against the US currency. The greenback was sold for 16 pesos per unit, something that had not happened in almost a decade. The nickname “superweight” remained more than ever.
However, as the peso progressed, it depreciated mainly due to political decisions, such as the controversial Reform of the Judicial Branch and the elimination of autonomous bodies.
The decline of the Aztec currency was aggravated by the campaign of donald trumphis electoral victory as president of the United States and his threats to place tariffs on all Mexican – and Canadian – products if Mexico did not improve border security.
Thus, the dollar returned to 20 pesos, being well above the forecasts of the Bank of Mexico (Banxico).
By 2025, Banxico It is expected that the dollar will trade at an average ranging from 20.24 pesos to 20.69 pesos, a conservative forecast considering the repercussions that Trump’s statements and policies in the White House would have on the exchange rate.
Inflation was relatively stable in 2024, hovering around 4%, except for June when it almost reached 6%, according to data from the National Institute of Statistics and Geography (Inegi).
This year, Banxico predicts that inflation will be below four points to 3.8%.
Regarding the growth of the Gross Domestic Product (GDP), the low forecasts remain. The central bank expects a rise in GDP of just 1.2%.
The Mexican peso is the legal tender of Mexico and is the first currency in the world to use the $ sign, which was later adopted by the United States for the dollar.
This currency is the fifteenth most traded currency in the world, as well as the most traded in Latin America and the third on the continent only behind the US and Canadian dollars.
Currently the abbreviation MXN is used to talk about the Mexican peso, but before 1993 the acronym MXP was used.
The coins normally used in Mexico are semicircular in shape and have the national coat of arms on the reverse. One Mexican peso is equivalent to 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in bills there are 20, 50, 100, 200, 500 and 1,000 pesos.
