The article discusses the significant appreciation of the Mexican peso against the US dollar, highlighting recent trends in exchange rates while debunking the notion that such a decline in the dollar's value is historically exceptional.
Between late 2024 and February 10, 2026, the exchange rate of the US dollar in pesos decreased significantly from 20.79 to 17.23, marking an accumulation of over 17% in dollar depreciation, which corresponds to an appreciation of almost 21% for the peso against the dollar. This relationship between currency values is fundamental, as one currency's depreciation inherently results in another's appreciation. The recent rates have sparked discussions about the declining dollar exchange rate being an exceptional occurrence in Mexico.
However, the article argues that the current exchange rate levels are not historically unprecedented. For instance, from May 2023 to May 2024, the average dollar exchange rate was around 17.19, with a daily minimum of 16.34. This context suggests that the peso's strength compared to the dollar does not represent a unique or extraordinary financial phenomenon but rather a reflection of typical market fluctuations. Moreover, mid-July 2023 saw the peso appreciate against the dollar by nearly 25%.
The implications of this appreciation could have wide-ranging effects on Mexico's economy, influencing various sectors reliant on international trade and impacting consumer prices. By understanding these exchange dynamics, stakeholders can make more informed decisions in planning for the economic landscape ahead, countering the narrative of the 'super peso' as merely a fantastical notion rather than a part of broader economic trends.
