#FXAlert: USD/MXN trading at 19.60, down 3.4% from 3M avg. Peso recovers after initial tariff shock as Lutnick hints at relief. Analysts expect continued volatility as US-Mexico navigate trade tensions & border security agreements
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OFX at a glance:
OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.
OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.
OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.
When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.
Learn more about OFX
Using OFX for money transfers offers the benefit of lower fees and competitive exchange rates compared to traditional banks, making international transactions more cost-effective.
Additionally, OFX provides 24/7 customer support, a range of transfer options including spot and forward contracts, and a user-friendly online platform, enhancing convenience and flexibility for global financial transactions.
What Savings Can I Expect with OFX?
OFX offers exchange rates that beat the banks, and are close or equal to the rates offered by the industry’s lowest-cost services.
When you register via our OFX 0.5% exclusive offer for BER users the cost of sending, for example, 5,000 US dollars to Australia equates to 0.5 percent of the transferred amount, or roughly US$25. You’d pay the same 0.5 percent for the same amount to be sent to Europe and around 1 percent if sending to India. This compares with 4–7 percent with the banks.
For other currency routes we looked at (routes involving AUD, INR, GBP, EUR, SGD and USD), the average cost of an international payment with OFX was 0.6 percent of the transferred amount. This is exceptional if compared with banks but can be a little more expensive than what is charged by the industry’s lowest-cost services, although such services do not offer the same benefits and customer service as OFX.
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
USD to MXN at 19.60 is 3.4% below its 3-month average of 20.29, having traded in a fairly volatile 8.2% range from 19.59 to 21.20
|Tracker
| Date | USD/MXN | Change | Period |
|---|---|---|---|
11 Apr 2025 | 20.33 | 3.5% ▼ | 2 Week |
25 Jan 2025 | 20.27 | 3.3% ▼ | 3 Month |
25 Apr 2024 | 17.20 | 14% ▲ | 1 Year |
26 Apr 2020 | 25.00 | 21.6% ▼ | 5 Year |
28 Apr 2015 | 15.28 | 28.3% ▲ | 10 Year |
30 Apr 2005 | 11.07 | 77.1% ▲ | 20 Year |
What are equivalent amounts of USD and MXN?
Here are some popular conversion amounts for USD to MXN (US dollar to Mexican peso)*.
| USD | MXN |
|---|---|
| $ 50.97 | Mex$ 1,000 |
| $ 254.84 | Mex$ 5,000 |
| $ 1,019 | Mex$ 20,000 |
| $ 5,097 | Mex$ 100,000 |
More amounts
*Converted at the current USDMXN interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Forecasts for USD to MXN
Recent forecasts for the USD to MXN exchange rate indicate ongoing volatility driven by geopolitical tensions and trade policy shifts. The US dollar (USD) has seen fluctuations amid speculation surrounding trade tariffs with major partners, particularly China. Analysts suggest that anticipated increases in durable goods orders could prop up the dollar, yet its safe-haven appeal may weaken due to concerns about President Trump’s trade policies and the potential recession looming over the US economy.
Read our full review of recent USD to MXN forecasts.
How to get a good USD to MXN exchange rate
There are several ways to save on exchange rates when converting US dollar to Mexican peso:
- Shop around for the best USD/MXN exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
- Timing is important: Keep an eye on the USD/MXN rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
- Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
- Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both USD and MXN at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
- Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.
The key is reducing excessive costs and fees
Generally speaking, if you are buying Mexican peso with US dollar, then it's better for the USD/MXN exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
Read our Currency guide to Mexico — a practical currency and money guide to travel in Mexico plus living and doing business with the Mexican peso.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
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.
Track Rate
Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.
Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending
Currency Country Guides
| United States (USD) | Mexico (MXN) |
Is Mexico a good place for Americans to retire to?
Mexico can be a good place for Americans to retire to, as it offers a lower cost of living and a warm climate in many areas. However, it is important to keep in mind that Mexico has its own unique culture and way of life, which may take some getting used to.
Additionally, it is important to be aware of the potential risks and hazards that can come with living in a foreign country, such as crime and political instability. It is also important to research the area you plan to retire to and understand the local laws and customs. Consulting with a financial advisor and attorney before making any decisions is also advisable.
Read more at our Mexico (MXN) country guide
Related exchange rates
Articles that mention the Mexican peso (MXN):
News2025-04-08
Mexican Peso Faces Uncertainty Amid U.S. Tariff Threats and Economic Policies
The Mexican peso's outlook for 2025 is clouded by potential U.S. tariffs and economic policies, with forecasts indicating possible depreciation against the U.S. dollar.
How the Weak US Dollar Can Impact International Business in 2025
Markets have shifted focus to the interest rate policies of other major central banks rather than the Federal Reserve.
Further reading on the Mexican peso (MXN) - Guides, Reviews & News from our research team.
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
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