![]() Mexico’s peso is a free-floating currency on the world’s foreign exchange markets. What to expect for the Mexican peso in 2023? About 17.2 million tourists arrived by air, 56% more than the previous year, but there were 10% fewer tourists crossing the border and staying for at least one night. The number of foreign visitors in the January-October period rose 19% to 52.7 million, with spending up 49% at $22.5 billion. Mexico’s tourism sector also grew in 2022 Remittances -money sent to Mexico by people living abroad, principally from the USA- reached $53.1 billion by November, 13% more than in the first 11 months of 2021. The higher interest rates help the peso as they encourage investors to buy the currency, but can also discourage consumers from spending or small firms from taking on credit to grow their business. The rise in inflation led the Bank of Mexico to raise its reference interest rate from 5.5% at the end of 2021 to 10.5% at the end of last year. The rate of inflation started to recede toward the end of the year, and was 7.8% at the end of December 2022. The Mexican government helped to keep inflation down by subsidizing gasoline and diesel using extra money it earned from prices of crude oil exported by Pemex, the state oil company. This was mostly because of increases in the cost of food. Inflation was a problem last year, as consumer prices rose by the most since the year 2000. by record remittances sent from people in the U.S.by exports rising to their highest level ever and.the Bank of Mexico raising interest rates.Interest rates, exports, and remittances backed the peso in 2022Īside from better-than-expected economic growth and further employment gains, the peso was supported in 2022 by three principal factors: This was due to a pickup in manufacturing goods for export, and a continued recovery in services that had still been lagging somewhat after the Covid-related restrictions. Gross domestic product is expected to have ended 2022 up 3%, more than what most economists had been predicting for much of the year. The economy continued its recovery from the 2020 recession, and by the third quarter goods and services output had returned to 2019 “pre-pandemic” levels. The currency also demonstrated resilience and stability, with the exchange rate fluctuating between 19 and 21.50 pesos to the dollar through 2022. Once you see the historical exchange rate graph appear, scroll anywhere along the graph line to see the historical exchange rate for that particular day in that year.The Mexican peso had another solid year in 2022, closing at 19.50 to the US dollar, posting a 5.1% gain in the 12 months to December 31. You can select the specific year for which you wish to see the historical exchange rates. ValutaFX has 10 years of history for most currency pairs. Yes, you can see historical conversion rates from Mexican Pesos to US Dollars on the Mexican Peso to US Dollar history page. Can I see historical conversion rates for MXN to USD? Yes, you can convert over 120 global currencies to US Dollars using the ValutaFX currency converter. The highest Mexican Peso to US Dollars exchange rate in the last 5 years was 0.0585 US Dollars per Mexican Peso on Friday, June 16, 2023. What is the highest MXN to USD rate in the last 5 years? The current exchange rate between the Mexican Peso and the US Dollar is 1 MXN = 0.0582 USD. ![]() What is the current exchange rate between MXN and USD? ![]() In the last 5 years, the Mexican Peso has appreciated +14.29% relative to the US Dollar. The Mexican Peso is weaker than the US Dollar at this time. If you execute a trade from Mexican Pesos to US Dollars late in the week, please bear in mind that the trade might not settle until the following week. However, between 3-4 PM GMT is often a good time if you want to convert Mexican Pesos to US Dollars because trading volumes tend to be highest at this time. What time of the day is best for MXN to USD conversions?Ĭurrency pairs are traded throughout the day, and consequently, their values can fluctuate constantly. In the last 5 years, the US Dollar reached a high of 25.328 Mexican Pesos to one US Dollar on Monday, March 23, 2020. When was the US Dollar at its highest compared the Mexican Peso in the last 5 years? What is $100 MXN in US Dollars?ġ00 Mexican Pesos = 5.8209 US Dollars as of Thursday, J05:15 PM UTC. ![]() You can get live exchange rates between Mexican Pesos and US Dollars using the ValutaFX free online currency converter. MXN to USD Converter - FAQs What is the value of one Mexican Peso in US Dollars?ġ Mexican Peso = 0.0582 US Dollars as of Thursday, J05:15 PM UTC. ![]()
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