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The Mexican peso rose on Friday to its strongest level against the dollar since April 2018, trading near 18.33 per dollar. Its gains this year reflect remittances, nearshoring, export revenue and foreign investment, alongside Banxico's record 11% benchmark rate.
A stronger peso reduces the local-currency cost of dollar-priced grain and meal imports for Mexican feed buyers. The move points to lower USD/MXN.
mexiconewsdaily.comMND StaffFeb 18, 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.
