The Mexican peso weakened past 20.2 per USD, the lowest since August 9th, amid the dollar strength after US Federal Reserve Chair Jerome Powell said that the central bank will need to raise interest rates “for some time” as it battles to tame inflation. Domestically, mid-month inflation figures for August came in hotter-than-expected while the economy expanded by a third successive quarter in the second quarter, giving the central bank leeway to keep hiking interest rates. Meanwhile, a central bank poll showed private sector analysts raised both inflation expectations and growth estimates for 2022.
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 September of 2022.
The Mexican Peso is expected to trade at 20.27 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 21.34 in 12 months time.