# Mexico announces forex hedge program, peso jumps 2%

> Mexico's foreign exchange commission announced Banxico will offer up to $20 billion in FX hedges without using international reserves. The peso jumped 2 percent, briefly breaking 20 per dollar to its strongest level since November 10, 2016.

- Date: 2017-02-21 · published 2017-02-21T12:00:00.000Z
- Category: macro · region Mexico · magnitude medium
- Page: https://feedsoft.ai/events/72713-mexico-announces-forex-hedge-program-peso-jumps-2
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A stronger peso reduces the local-currency cost of US feed grain imports, supporting Mexican demand, though the policy is a currency measure rather than a direct grain driver.

## Read by commodity

- CORN: neutral
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-02-22 | [Mexico to offer up to USD$20 billion in forex hedges to aid battered peso \| El Universal](https://feedsoft.ai/events/72717-mexico-to-offer-up-to-usd-20-billion-in-forex-hedges-to-aid-battered-peso-el.md) | -0.1% | -1.6% |
| CORN | 2016-12-03 | [Mexico peso edges up, but Trump trade risks loom](https://feedsoft.ai/events/73673-mexico-peso-edges-up-but-trump-trade-risks-loom.md) | +4.1% | +2.4% |
| CORN | 2017-02-22 | [‘Desperate measures’: analysts react to Mexico’s $20bn peso plan](https://feedsoft.ai/events/72714-desperate-measures-analysts-react-to-mexico-s-20bn-peso-plan.md) | -0.1% | -1.6% |
| CORN | 2017-02-28 | [Trump Was Going to Kill Mexico’s Peso. It’s Doing Just Fine - Bloomberg](https://feedsoft.ai/events/72712-trump-was-going-to-kill-mexico-s-peso-it-s-doing-just-fine-bloomberg.md) | +0.9% | -1.1% |
| CORN | 2026-03-27 | [Mexican peso slides past 18 as Iran war pressures mount](https://feedsoft.ai/events/20378-mexican-peso-slides-past-18-as-iran-war-pressures-mount.md) | -2.9% | -1.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/02/21/mexico-announces-forex-hedge-program-peso-jumps-2.html

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