# Mexico Exchange Rate March 2020 - FocusEconomics

> The peso fell sharply in early March 2020 to a record low above 22.00 per dollar on March 9, after oil prices collapsed and coronavirus fears spread. Banxico intervened and doubled its FX hedging program to $30 billion, and the peso ended March 13 at 21.93, down 15.2% from February.

- Date: 2020-03-16 · published 2020-03-16T12:00:00.000Z
- Category: macro · region Mexico · magnitude medium
- Page: https://feedsoft.ai/events/54339-mexico-exchange-rate-march-2020-focuseconomics
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Peso depreciation raises Mexican import costs for feed ingredients and pressures Pemex and fiscal finances, which can dampen Mexican demand for feed and livestock output.

## Read by commodity

- WTI: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-04-30 | [Colombia Monetary Policy April 2025 - FocusEconomics](https://feedsoft.ai/events/25408-colombia-monetary-policy-april-2025-focuseconomics.md) | -2.3% | +1.5% |
| WTI | 2020-04-28 | [2020-2022 Exchange Rate Forecasts: Pound-Dollar And Euro-Pound To Rise As USD Losses To Prevail](https://feedsoft.ai/events/53874-2020-2022-exchange-rate-forecasts-pound-dollar-and-euro-pound-to-rise-as-usd.md) | +65.3% | +179.6% |
| WTI | 2020-03-24 | [Feed grain report (March 2020) \| AHDB](https://feedsoft.ai/events/6105-feed-grain-report-march-2020-ahdb.md) | -32.0% | -41.4% |
| WTI | 2025-06-17 | [Peru Economic Outlook. June 2025 \| BBVA Research](https://feedsoft.ai/events/24506-peru-economic-outlook-june-2025-bbva-research.md) | -9.9% | -6.8% |
| WTI | 2017-01-31 | [FED Disapointment Sees The US To Canadian Dollar Exchange Rate Slide](https://feedsoft.ai/events/73225-fed-disapointment-sees-the-us-to-canadian-dollar-exchange-rate-slide.md) | +0.7% | +2.6% |

## Sources

- focus-economics.com: https://www.focus-economics.com/countries/mexico/news/exchange-rate/peso-sinks-amid-coronavirus-fears-and-oil-price-plunge-banxico/

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