# Mexico sees peso at 3-year low, offers $30 billion coverage | AP News

> The Mexican peso fell to a three-year low against the US dollar. The Bank of Mexico and the Treasury attributed the decline to falling world oil prices and economic fallout from the coronavirus outbreak, and announced $30 billion in coverage.

- Date: 2020-03-10 · published 2020-03-10T12:00:00.000Z
- Category: macro · region Mexico · magnitude medium
- Page: https://feedsoft.ai/events/54338-mexico-sees-peso-at-3-year-low-offers-30-billion-coverage-ap-news
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The weaker peso increases import costs for Mexican feed buyers, and the falling oil prices that drove the decline also weigh on energy-linked commodities and farm input costs.

## Read by commodity

- WTI: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-09-10 | [Oil settles near 3-year low on weak demand outlook \| Reuters](https://feedsoft.ai/events/10169-oil-settles-near-3-year-low-on-weak-demand-outlook-reuters.md) | +2.1% | +11.9% |
| WTI | 2021-12-15 | [Canadian dollar at nearly 3-month low as oil prices fall \| Reuters](https://feedsoft.ai/events/43853-canadian-dollar-at-nearly-3-month-low-as-oil-prices-fall-reuters.md) | +0.7% | +16.9% |
| WTI | 2020-02-25 | [COVID-19 Pressures Mexican Peso](https://feedsoft.ai/events/54791-covid-19-pressures-mexican-peso.md) | -9.0% | -54.6% |
| WTI | 2020-02-27 | [Oil prices dive to lowest in over a year on coronavirus fears \| Reuters](https://feedsoft.ai/events/7109-oil-prices-dive-to-lowest-in-over-a-year-on-coronavirus-fears-reuters.md) | -3.9% | -55.0% |
| WTI | 2020-03-30 | [Coronavirus: Oil price collapses to lowest level for 18 years - BBC News](https://feedsoft.ai/events/5323-coronavirus-oil-price-collapses-to-lowest-level-for-18-years-bbc-news.md) | +64.1% | -28.3% |

## Sources

- apnews.com: https://apnews.com/article/virus-outbreak-financial-markets-caribbean-business-prices-9be717719bd45fe16e8d1a0536d2b1dd

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