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.

WWW.BOZHOU-INT.COM | MARINE LIGHT

Previous : Strike at Canadian West Coast Ports

Next : Pakistan Lifts All Import Restrictions

Mexico Imposes 17-19% Tariffs

Jan .07.2025

The Mexican General Taxation Administration introduced a series of new tariff policies on January 1. The most noteworthy one is the 17% to 19% tariff on small-value goods imported through express delivery companies, and this move may affect popular online

China Will Purchase US Chips with Caution

Dec .04.2024

On December 3, China's four major industry associations collectively issued a statement: they will be cautious in purchasing American chips.

Export Control of Dual-use Items to The United States

Dec .04.2024

On December 3, the Ministry of Commerce issued an announcement on strengthening export control of relevant dual-use items to the United States.

Türkiye & Israel Break Off Diplomatic Relations

Nov .14.2024

Turkish President Erdogan announced on the 13th that Türkiye has severed relations with Israel and will not take any measures to continue or develop bilateral relations in the future.