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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: Jun 21, 2022  
     

    1 USD = 20.26 MXN
    Sell USD  →  Buy MXN
    USD to MXN at 20.26 is 1.0% above its 90-day average 20.05 with range 19.53-20.58.
    |
     
    7-DAY+2.0%
    14-DAYHIGH

    Peso Outlook

    Mid-year the peso has weakened back above 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
    20 Jun 2022
    20.27
    0% 2 Week
    05 Apr 2022
    19.99
    1.5% 3 Month
    04 Jul 2021
    19.80
    2.4% 1 Year
    05 Jul 2017
    18.33
    10.6% 5 Year
    06 Jul 2012
    13.45
    50.8% 10 Year
    09 Jul 2002
    9.8887
    105.1% 20 Year
    USD/MXN change over periods to 04-Jul-2022

     

    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.

    The US Dollar has proven itself to be a safe haven amid the Ukraine-Russia conflict as investors seek refuge from the uncertainty.

    A clear reflection of this is that the US Dollar index (measure of the USD strength against basket of currencies) is approaching 20 year highs.

     USD Outlook

     

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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.