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The Mexican peso reached its strongest exchange rate against the dollar since December 2015, below 16.98 per dollar. Drivers include record May remittances of $5.69 billion, Bank of Mexico rates held at 11.25%, stable public finances and expected nearshoring investment.
Analysts say the currency has been resilient through months of capital market volatility.
A stronger peso lowers the peso cost of dollar-priced feed imports into Mexico. The move reflects capital and remittance flows rather than changes in feed supply or demand.
english.elpais.comKarina SuárezJul 7, 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.
