The Mexican peso was trading around a two-week low of 22.4 against the greenback, as demand for safe-haven currencies improved amid mounting worries over surging COVID-19 infections and renewed US-China tensions. According to the country’s health minister the number of COVID-19 cases surpassed 439,000. Latest preliminary data showed domestic economy shrank by a record 17.3% on quarter in the three months to June amid lockdowns restrictions due to the coronavirus pandemic.
Historically, the Mexican Peso reached an all time high of 25.78 in April of 2020. Mexican Peso - data, forecasts, historical chart - was last updated on August of 2020.
The Mexican Peso is expected to trade at 22.52 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 23.00 in 12 months time.