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    USD to MXN 2024 Forecasts

    Analysis of recent dollar → peso forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Mexican peso performance and trends.

     

    Forecasts for USD to MXN

     

    The USD to MXN exchange rate has recently surged to a 90-day high near 20.28, a notable increase of 3.9% above its three-month average of 19.51. This volatility reflects a substantial 8.9% trading range over the past weeks, fluctuating from a low of 18.63 to its peak. Economic data from the US has displayed mixed signals, with stronger-than-expected ADP payroll figures giving an initial lift to the dollar, followed by a subsequent downturn driven by slower-than-anticipated GDP growth. As FX analysts note, anticipation surrounding the core PCE price index release poses a risk for the USD, particularly if inflation indicators show signs of cooling, which could further detriment the dollar's momentum.

    On the other hand, the Mexican peso has been facing headwinds, plunging to its lowest level against the US dollar in two years as traders brace for potential volatility linked to the upcoming US election. According to JP Morgan Chase, the peso displays vulnerability to shifts in the political landscape, with Donald Trump's potential return to the presidency being a key concern due to his proposed tariffs on US companies relocating production to Mexico. Economists have predicted that if Trump secures a victory, the peso could depreciate further, potentially reaching levels of 20.5 per dollar. Conversely, a win for Kamala Harris could result in a brief rally in the peso, driving its value below 19 per dollar. With the dynamic intertwined with oil market influences and the health of the US economy, as well as Mexico's reliance on remittances, the outlook for the peso remains cautious amidst electoral uncertainties.

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    USD to MXN Market Data

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

     
    1 USD =
    20.28We compare provider deals to this wholesale mid-market rate. Read more
    MXN
    +1.2%
    3M
    USD to MXN is at 90-day highs near 20.28, 3.9% above its 3-month average of 19.51, having traded in a fairly volatile 8.9% range from 18.63 to 20.28
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    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.

     
    DateUSD/MXNChangePeriod
    18 Oct 2024
    19.88
    2% 2 Week
    03 Aug 2024
    19.18
    5.7% 3 Month
    02 Nov 2023
    17.54
    15.6% 1 Year
    03 Nov 2019
    19.10
    6.2% 5 Year
    04 Nov 2014
    13.55
    49.7% 10 Year
    06 Nov 2004
    11.41
    77.7% 20 Year
    USD/MXN historic rates & change to 01-Nov-2024
     

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    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 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