# Peso at strongest level against the dollar since 2018

> 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.

- Date: 2023-02-18 · published 2023-02-18T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/37564-peso-at-strongest-level-against-the-dollar-since-2018
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- mexiconewsdaily.com: https://mexiconewsdaily.com/news/peso-at-strongest-level-against-the-dollar-since-2018/

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