# Mexican Peso falls, weekly depreciation exceeds 1.30%

> The Mexican Peso weakened on September 27, with USD/MXN reaching 19.74 and gaining about 0.5% on the day, extending losses for a second session. The move followed Banxico's cut of its benchmark rate to 10.50% and softer US PCE inflation data, and the peso recorded a weekly depreciation above 1.30%.

- Date: 2024-09-27 · published 2024-09-27T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/28534-mexican-peso-falls-weekly-depreciation-exceeds-1-30
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A weaker peso raises the local-currency cost of imported US feed grains and meal for Mexican feed mills, which can slow purchases and weigh on US export demand.

## Read by commodity

- CORN: neutral
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-03-27 | [Mexican peso slides past 18 as Iran war pressures mount](https://feedsoft.ai/events/20378-mexican-peso-slides-past-18-as-iran-war-pressures-mount.md) | -2.9% | -1.9% |
| CORN | 2025-02-03 | [Mexican peso rallies after touching 3-year low as tariffs delayed](https://feedsoft.ai/events/26261-mexican-peso-rallies-after-touching-3-year-low-as-tariffs-delayed.md) | +0.6% | -3.9% |
| CORN | 2024-09-30 | [Mexican Peso ticks downward in wake of Powell's remarks](https://feedsoft.ai/events/28533-mexican-peso-ticks-downward-in-wake-of-powell-s-remarks.md) | +1.0% | -0.6% |
| CORN | 2017-05-22 | [Tight monetary policy to strengthen Mexican peso](https://feedsoft.ai/events/71217-tight-monetary-policy-to-strengthen-mexican-peso.md) | +1.0% | +2.3% |
| CORN | 2017-02-22 | [‘Desperate measures’: analysts react to Mexico’s $20bn peso plan](https://feedsoft.ai/events/72714-desperate-measures-analysts-react-to-mexico-s-20bn-peso-plan.md) | -0.1% | -1.6% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-drops-as-banxico-cut-us-pce-data-weighs-on-currency-202409271744

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