The Mexican peso held at 19.9 per USD in the fourth week of April, still close to a 3-month high of 19.8 hit earlier in the week, amid a broader dollar weakness, with falling oil prices capping some of the upside momentum. On the data front, the Mexican economy shrank 2.1% in March compared to the same month last year, however, investors expect a return to economic growth in the coming months as the pandemic eases and the spillover effects from the American economy kick in. Crude futures, one of Mexico’s major exports, slipped to $61 per barrel amid concerns over global oil demand due to resurging coronavirus infections worldwide.
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 April of 2021.
The Mexican Peso is expected to trade at 19.97 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 20.40 in 12 months time.