The Mexican peso weakened to near 17.2 per US dollar after touching a more than two-year high of 16.98 on September 11th, following the US Fed’s decision to raise interest rates. The Fed increased its federal funds target rate by 25 bps to 3.75%-4.00%, as widely expected, while a majority of FOMC members projected another hike this year. The narrowing interest-rate differential is supporting the dollar. Mexico’s central bank left its benchmark rate unchanged at 6.50% at its August meeting, noting that inflation is expected to continue declining gradually and converge to the 3% target in the fourth quarter of 2027. Banxico also highlighted that Mexico’s economy rebounded in the second quarter after contracting in the previous quarter, although downside risks to growth persist. The board reiterated that it expects to keep the benchmark rate at its current level amid uncertainty over geopolitical conflicts, global trade policies, and their potential impact on inflation.
The USD/MXN exchange rate rose to 17.1754 on September 18, 2026, up 0.35% from the previous session. Over the past month, the Mexican Peso has weakened 1.36%, but it's up by 6.18% over the last 12 months. Historically, the USDMXN reached an all time high of 25.78 in April of 2020. Mexican Peso - data, forecasts, historical chart - was last updated on September 20 of 2026.
The USD/MXN exchange rate rose to 17.1754 on September 18, 2026, up 0.35% from the previous session. Over the past month, the Mexican Peso has weakened 1.36%, but it's up by 6.18% over the last 12 months. The Mexican Peso is expected to trade at 17.21 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 16.79 in 12 months time.