International News

Super Currency Appears - Mexican Peso

Author : Bozhou Marine

Update time : 2023-07-12 10:55:01

The Mexican currency has appreciated sharply. The exchange rate of the Mexican peso against the US dollar has risen from 19.5 on the last day of 2022 to 17.12 at the end of the first half of 2023, an increase of 12.3%.
The return of the industrial chain, high levels of remittances and good inflation prospects are the main reasons, are the main reasons.

Inflation in Mexico is on a downward trend, which could put pressure on the Central Bank of Mexico to cut interest rates, benefiting importers, and the impact will permeate throughout Latin America in the second half of this year.

Mexico has very favorable economic factors such as increased overseas demand for Mexican products, increased investment opportunities, and economic integration with the United States.

Another huge boost has been remittances from Mexico, which have reached their highest annual cumulative level since April at nearly $60 billion.

A stronger peso benefits Mexico by reducing inflationary pressures on imported goods, at the expense of exporters.
But greater trade integration with the United States has managed to make up for this loss by boosting the productivity of Mexican firms.

China is Mexico's second largest trading partner, the second largest source of imports and the third largest export destination after the United States and Canada.

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