# Peso closes at strongest level against the US dollar in 7 1/2 years

> The peso closed at 17.05 per dollar on June 16, its strongest level in seven and a half years, and has gained about 12.6% this year. The Fed left its rate at 5.00-5.25% and signalled two more hikes, while high Mexican rates and strong capital and remittance inflows supported the currency.

- Date: 2023-06-17 · published 2023-06-17T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/35725-peso-closes-at-strongest-level-against-the-us-dollar-in-7-1-2-years
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A peso at a multi-year high lowers the local-currency cost of dollar-priced feed ingredients for Mexican buyers, but the effect is currency-driven and modest for feed prices.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- mexiconewsdaily.com: https://mexiconewsdaily.com/news/peso-strongest-level-vs-usd-7-5-years/

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