Exchange Rate in Mexico
The Mexican peso saw significant depreciation against the US dollar from 2014 to 2020. The currency then strengthened post-pandemic, thanks to Banxico's double-digit policy rate, and strong inflows of tourists, remittances and export revenue. However, the peso slumped in 2024 due to rising concerns over the weakening of democratic safeguards at home and fears of Trump tariffs.
The exchange rate ended 2024 at MXP 20.79, compared to the end-2023 value of MXP 16.93 and the figure a decade earlier of MXP 14.74. It averaged MXP 18.94 over the last decade. For more exchange rate information, visit our dedicated page.
Mexico Exchange Rate Chart
Note: This chart displays Exchange Rate (vs USD) for Mexico from 2024 to 2022.
Source: Macrobond.
Mexico Exchange Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Exchange Rate (MXN per USD, eop) | 18.88 | 19.93 | 20.47 | 19.49 | 16.93 |
| Exchange Rate (MXN per USD, aop) | 19.25 | 21.49 | 20.29 | 20.12 | 17.75 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Mexican exchange rate projections for the next ten years from a panel of 41 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Mexican exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Mexican exchange rate projections.
Want to get access to the full dataset of Mexican exchange rate forecasts? Send an email to info@focus-economics.com.