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Currency outlook USD/MXN

USD to MXN Forecasts – US dollar to Mexican peso

Latest USD to MXN forecasts including bank predictions, key market drivers and recent trends for USD/MXN. See where analysts expect the pair to move and the factors likely to influence it.

USD to MXN Forecast & Outlook

22 Jul 2026 • 00:24 GMT

USD/MXN 17.41

📊 Forecast snapshot

  • Near-term bias: 🔴 Mild downside
  • Expected range: 17.1700 – 17.6100
  • Dominant driver: 🌍 Global risk sentiment
  • 3-month trend: ⚪ Range-bound

Currently, USD/MXN is trading close to its 3-month average at 17.41, holding near the upper end of a very stable range from 17.17 to 17.61. The dominant driver is the risk-off sentiment, supported by geopolitical tensions and elevated oil prices, which bolster USD demand. Over the next few sessions, the pair may face pressure to the downside if risk conditions ease slightly, but tight ranges suggest limited short-term moves.

💸 Transfer implications

  • Expats: sending money to Mexico may find conditions less favourable than recent levels if the pair dips further.
  • Travellers: buying pesos might see downward pressure, making cash purchases slightly more advantageous.
  • Businesses: paying Mexican invoices in MXN using USD could encounter less favourable exchange rates if USD gains momentum.

🧭 Key drivers

  • Rate gap: The US Fed’s uncertain policy path and the current rate position keep the USD strong relative to the peso.
  • Risk/commodities: Safe-haven flows driven by geopolitical tensions and high oil prices support USD, pressuring the peso.
  • Global factors: Elevated geopolitical risk around the Middle East sustains demand for USD and safe-haven currencies.

⚠️ What could change it

  • Upside risk: Easing geopolitical tensions or a decline in oil prices could reduce USD support, allowing the peso to strengthen.
  • Downside risk: Stronger US monetary tightening or a risk-off environment intensifying safe-haven flows may keep USD supported.

BER suggests shopping around for the lowest margin provider may help reduce overall transfer costs, as near-term conditions may remain supported for USD conversions but could face short-term downward adjustments.

 

USDMXN Bank Forecasts to end of the year

The outlook for USD/MXN towards the end of 2026 shows slight variation among major banks. Bank of America forecasts the pair at 18.50, indicating potential pressure on the peso. UBS projects a slightly lower figure of 18.2, suggesting some underlying support for the peso compared to Bank of America's view. Banco Base offers a more balanced view with an expectation of USD/MXN near 17.82 by the fourth quarter, adding another layer of variance to predictions.

Big bank views

  • Bank of America forecasts USD/MXN at 18.50, suggesting pressure on the peso.
  • UBS expects USD/MXN at 18.2 by Q4, implying less pressure than some forecasts.
  • Banco Base projects a gradual depreciation of the peso, with USD/MXN nearing 17.82.

What could change the outlook

  • US Federal Reserve actions: Anticipated interest rate hikes could strengthen the USD further, impacting USD/MXN.
  • Mexican monetary policy: Decisions by Banxico on rates could influence the peso's resilience against the USD.
 

USD-MXN Rate Calculator

 
 
   
   
   
   
   
 
 

USD to MXN Market Data

US dollar (USD) to Mexican peso (MXN) market data - latest interbank exchange rate, trend, chart & historic rates.

 
Sell USD   →   Buy MXN
1 USD =
17.41We compare provider deals to this wholesale mid-market rate. Read more
MXN
1d−0.1%▼
USD to MXN at 17.41 is near its 3-month average, having traded in a very stable 2.6% range from 17.17 to 17.61
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  1 MXN = 0.057429 USD

Compare & Save - US dollar to Mexican peso

Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Mexican peso (MXN) rates from different sources before making a conversion.

Use our USD to MXN calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Dollar to Peso currency rates and the possible savings of using various providers.

 
 

Will the US dollar rise against the Mexican peso?

This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the US dollar vs Mexican peso current value is to look the USD/MXN historic rate and change over a range of periods.

The following table looks at the change in the USD to MXN exchange rate over periods from the previous week back to the last 10 years.

DateUSD/MXNChangePeriod
08 Jul 2026
17.57
1% ▼2 Week
23 Apr 2026
17.42
0.1% ▼3 Month
22 Jul 2025
18.65
6.7% ▼1 Year
23 Jul 2021
20.06
13.3% ▼5 Year
24 Jul 2016
18.55
6.2% ▼10 Year
27 Jul 2006
10.90
59.6% ▲20 Year
USD/MXN historic rates & change to 22-Jul-2026

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add USD/MXN to your personalised Rate Tracker to track and benefit from currency movements.

 
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Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.

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Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more