# Mexican Peso: One of the Best Performing Currencies in the World

> The Mexican peso has been one of the strongest currencies of the past year, with the finance ministry citing an annual appreciation of 7.7% as of January 10. The peso traded near 18.65 per dollar in mid-January, its strongest level since 2020. Analysts expect further gains toward 18.52.

- Date: 2023-01-25 · published 2023-01-25T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/37998-mexican-peso-one-of-the-best-performing-currencies-in-the-world
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A strong peso lowers the cost of dollar-denominated feed and grain imports for Mexican buyers, while making Mexican exports more expensive. This can marginally reduce Mexican import demand for U.S. commodities.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- mexicobusiness.news: https://mexicobusiness.news/finance/news/mexican-peso-one-best-performing-currencies-world

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