# Mexican Peso Appreciation, US Slowdown Weaken Purchasing Power of Remittances

> 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.

- Date: 2023-03-15 · published 2023-03-15T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/37084-mexican-peso-appreciation-us-slowdown-weaken-purchasing-power-of-remittances
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/english/mexican-peso-appreciation-us-slowdown-weaken-purchasing-power-of-remittances/

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