The Mexican peso has shown signs of recovery after facing its worst intraday loss since April 2025, triggered by developments regarding the US-Iran conflict. Reports surfaced suggesting that high-ranking Iranian officials reached out indirectly to the CIA to discuss potential negotiations with Donald Trump aimed at bringing an end to the Middle Eastern war. This information was published by The New York Times, sparking both interest and concern in the financial markets.

Iranian news agency Tasnim quickly refuted the claim, labeling it as 'pure falsehood and psychological warfare' while citing a source from the Iranian Ministry of Intelligence. Despite these denials, the mere possibility of negotiations between the US and Iran has resulted in increased risk appetite among investors. Consequently, this shift has led to a depreciation in the value of the US dollar against the peso, showcasing investor sentiments leaning towards more favorable relationships.

As of March 4, according to Bloomberg, the peso strengthened by 0.86 percent against the dollar, resulting in an exchange rate of 17.54 pesos per dollar, reflecting a decrease in the dollar's value by 9 cents compared to the close on March 3. This recovery illustrates the ongoing fluctuations in currency values influenced by geopolitical developments and investor sentiments in Mexico and abroad.