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    USD to MXN Forecasts

    USD/MXN forecasts change all the time, affected by news events and relative sentiment towards the US and Mexican economies and this exchange rate is even more volatile than usual because of the uncertainties around the Coranavirus pandemic and the increase US interest rates.

    Updated: Oct 06, 2022  

     

    1 USD = 19.39 MXN
    Sell USD  →  Buy MXN
    USD to MXN at 19.39 is 2.1% below its 90-day average 19.81 with range 19.13-20.39.
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    USDMXN :
    90-DAYLOW1d
    1-DAY+1.4%

    Peso Outlook

    Into the final quarter of 2022 the peso is fluctuating around the key 20 level versus the US dollar.

    When uncertainty increases, traders tend to move quickly out of emerging market FX such as the peso first before looking for safe havens.

    DateUSD/MXNChangePeriod
    18 Nov 2022
    19.44
    0.3% 2 Week
    03 Sep 2022
    19.95
    2.8% 3 Month
    02 Dec 2021
    21.31
    9% 1 Year
    03 Dec 2017
    18.67
    3.9% 5 Year
    04 Dec 2012
    12.96
    49.6% 10 Year
    07 Dec 2002
    10.26
    89% 20 Year
    USD/MXN historic rates & change to 02-Dec-2022

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    Factors that affect the Mexican peso exchange rate

    The Mexican peso has an important psychological level of 20 against the greenback. If a US dollar buys well above 20 peso then the Mexican currency is seen to be weak.

    This of course is an opportunity for the large Mexican diaspora to send money back home at advantageous rates.

    The foreign exchange market convention for USD/MXN is to quote Mexican peso as Peso per US dollar. Thus a higher USD/MXN rate actually means one peso is worth less, that is you can buy more peso for 1 USD.

    Economists expect the US dollar’s strength over the past year to reverse in 2023 as the Fed’s interest rate hikes cycle to an end.

    A clear reflection of this is that the US Dollar index (measure of the USD strength against basket of currencies) which has pulled back from 20 year highs.

    USD Forecasts

     

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    Posted under: #Forecasts #MXN #USD
     

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.