# Latin American Currencies Dip As Mexican Peso Hits Two-Year Low - Finimize

> Latin American currencies fell as the Mexican peso slid 0.3% to about 20 per dollar, reaching a two-year low. Pressure came from Mexican judicial reform, the expected resignation of a Supreme Court justice, and US election risk. The Brazilian real, Chilean peso, Colombian peso and Peruvian sol also weakened, and MSCI's Latin American stock index fell 1%.

- Date: 2024-10-30 · published 2024-10-30T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/28093-latin-american-currencies-dip-as-mexican-peso-hits-two-year-low-finimize
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker peso and regional currency weakness raise the local-currency cost of imported US feed grains and meal across Latin America. Broader regional risk-off sentiment can pressure buyers' purchasing power.

## Read by commodity

- USDBRL: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-12-09 | [Strong dollar weighs on Latin American currencies \| Financial Post](https://feedsoft.ai/events/43821-strong-dollar-weighs-on-latin-american-currencies-financial-post.md) | +3.1% | +1.5% |
| USDBRL | 2024-08-30 | [Latin American Markets Take A Hit As US Data Shifts Fed Expectations - Finimize](https://feedsoft.ai/events/29083-latin-american-markets-take-a-hit-as-us-data-shifts-fed-expectations-finimize.md) | -0.8% | -3.6% |
| USDBRL | 2022-07-29 | [The strengthening of the U.S. dollar against the Latin American currencies - Latinoamérica 21](https://feedsoft.ai/events/40785-the-strengthening-of-the-u-s-dollar-against-the-latin-american-currencies.md) | +0.0% | -1.9% |
| USDBRL | 2018-04-10 | [LatAm currencies likely to diverge - BNamericas](https://feedsoft.ai/events/65784-latam-currencies-likely-to-diverge-bnamericas.md) | +1.0% | +4.7% |
| USDBRL | 2023-01-19 | [Mexican peso leads LatAm FX lower as recession fears grow - Financial Post](https://feedsoft.ai/events/37997-mexican-peso-leads-latam-fx-lower-as-recession-fears-grow-financial-post.md) | -0.8% | +1.7% |

## Sources

- finimize.com: https://finimize.com/content/latin-american-currencies-dip-as-mexican-peso-hits-two-year-low

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