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The Mexican peso has risen 4.8% against the dollar so far in 2023, making it the second-best emerging-market currency. The stronger peso is reducing the peso value of remittances, which reached a record $58.49 billion in 2022.
Weaker remittance purchasing power may dampen household spending on food in Mexico, a modest demand factor for feed-linked meat and dairy. The commodity price effect is small.
bloomberglinea.comEstephanie SuárezMar 15, 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.
