# Mexican peso posts biggest annual drop versus US dollar in 16 years | Reuters

> Mexico's peso closed 2024 at 20.82 per US dollar after weakening nearly 23% over the year, its steepest annual drop since the 2008 financial crisis. The slide began after June's general election, which gave the leftist Morena-led coalition a large victory.

- Date: 2024-12-31 · published 2024-12-31T12:00:00.000Z
- Category: macro · region Mexico · magnitude medium
- Page: https://feedsoft.ai/events/27192-mexican-peso-posts-biggest-annual-drop-versus-us-dollar-in-16-years-reuters
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A weaker peso raises the peso cost of US grain and meal imports, which squeezes Mexican feed-mill margins and can cut buying at the margin. Feed buyers should watch the peso as a factor in Mexican import demand for corn and soymeal.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/mexican-peso-posts-biggest-annual-drop-versus-us-dollar-16-years-2024-12-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.