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Mexico's peso has risen more than 14% against the dollar this year, helped by higher central bank rates and nearshoring investment. On Friday it hit a 7.5-year high of 16.63 per dollar, versus about 20.40 a year earlier.
The stronger peso lowers the peso value of remittances sent from the US, which hits lower-income households.
A stronger peso reduces the purchasing power of Mexican household incomes and makes dollar-priced feed imports cheaper in pesos. The effect on grain and feed prices is limited, so the direct price impact is small.
reuters.comLizbeth DiazJul 31, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
