Switch .com Best Exchange Rates .com Best Exchange Rates .com Best Exchange Rates

    USD to MXN Forecasts

    Analysis of recent dollar→peso forecasts. We collate forecasts from respected FX analysts together with the latest USD to MXN performance and trends.


    Forecasts for USD to MXN

    USDMXN chart

    Based on recent forecasts and currency market updates, FX analysts predict a reversal in the strength of the US dollar against the Mexican peso in the coming years. This expectation is largely driven by expectations that the Federal Reserve's interest rate hike cycle, which has supported the dollar's strength, will come to an end in 2023. These interest rate hikes have made the dollar more attractive to investors, but as they taper off, the dollar's strength is anticipated to wane.

    Furthermore, the performance of the Mexican peso is closely tied to the oil market, as Mexico is a major oil exporter. The recent surge in oil prices has been favorable for the peso. Additionally, cash remittances from Mexican workers in the United States, which have defied predictions of a significant drop due to the pandemic, can also positively impact the value of the peso. These remittances stimulate domestic demand and contribute to economic growth, leading to a stronger Mexican economy and currency.

    It is worth noting that the peso experienced a significant plunge in March, falling below the key level of 20 pesos per US dollar. This drop was attributed to increased uncertainty, causing traders to move out of emerging market currencies like the peso and seek safe-haven assets instead. However, the peso has shown stability within a range of 16.68 to 17.67 pesos per US dollar in recent months.

    In summary, economists expect the US dollar's strength to reverse in 2023 as the Fed's interest rate hikes come to an end. The Mexican peso's fortunes are linked to the oil market and cash remittances from Mexican workers in the US, both of which have been favorable for the peso. Traders tend to move out of emerging market currencies like the peso during periods of increased uncertainty. The current USD to MXN exchange rate of 17.54 is slightly above its 3-month average, indicating some ongoing strength in the US dollar against the peso.

    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.

    @bestfxrates : FX analysts anticipate a weaker USD against MXN in the coming years as the Fed's interest rate cycle ends in 2023. The MXN's close ties to the oil market and robust remittances from the US could boost its value. USD to MXN currently stands at 17.54, showing ongoing dollar strength. #USDMXN #FXforecast

    Multi-Vendor Quote

    We can help you get an even better deal when sending a Large International Money Transfer.

    Click below for the Request Quotes form and enter your transfer details (BER account required).

    Request Quotes

    Save time and money - fewer websites to visit and you get a much better exchange rate & service.


    USD to MXN Market Data

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

    1 USD =
    17.42We compare provider deals to this wholesale mid-market rate. Read more
    USD to MXN at 17.41 is 2.0% above its 3-month average of 17.07, having traded in a quite stable 5.9% range from 16.68 to 17.67
    Sell USD   →   Buy MXN
    My Rates

    Manage My Rates   

    15 Sep 2023
    2% 2 Week
    01 Jul 2023
    1.8% 3 Month
    29 Sep 2022
    13.5% 1 Year
    30 Sep 2018
    6.7% 5 Year
    01 Oct 2013
    32.6% 10 Year
    04 Oct 2003
    55.5% 20 Year
    USD/MXN historic rates & change to 29-Sep-2023

    Will the US dollar rise against the Mexican peso?

    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 BER Smart Rate Tracker to track and benefit from currency movements.

    Track Rate

    Manage My Rates   


    Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP DOWN HIGH LOW alerts over a range of periods over the recent 90 days.

    Read our Currency guide to Mexico - a practical currency and money guide to travel, living and doing business in Mexico with the Mexican peso.


    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