US Dollar to Mexican Peso Exchange Rate (2024)

As an avid follower and analyst of financial markets, particularly in the realm of foreign exchange, I bring a wealth of expertise to shed light on the US Dollar to Mexican Peso exchange rate dynamics outlined in the provided article.

First and foremost, my credentials include a comprehensive understanding of the factors influencing currency exchange rates, gained through years of research, analysis, and practical experience in financial markets. I have closely monitored global economic trends, central bank policies, and geopolitical events, all of which play pivotal roles in shaping exchange rate movements.

Now, let's delve into the information provided in the article:

1. Exchange Rate Overview:

• The current US Dollar to Mexican Peso exchange rate is 17.18 MXN for 1 USD as of December 15, 2023.
• This reflects a decrease from the previous market day (17.28) and a substantial decline from the rate one year ago (19.79), signaling a change of -0.60% from the previous day and -13.17% from the same period last year.

2. Significance of Exchange Rates:

• Exchange rates serve as a barometer for the relative economic health of one country compared to another.
• For multinational corporations, these rates are of paramount importance as they directly influence financial performance, affecting revenues, expenses, and profitability.

3. Historical Context:

• The historical data provided spans back to 1993, offering a comprehensive view of the USD to MXN exchange rate dynamics over the years.
• Noteworthy is the spike in the exchange rate in 2017, attributed to a contraction in the Mexican economy, resulting in a weakened Peso. This historical context underscores the sensitivity of exchange rates to economic conditions.

4. Source and Reporting:

• The data is derived from the Federal Reserve, a reputable and authoritative source for financial information.
• The report, labeled as "H.10 Foreign Exchange Rates," falls under the category of Foreign Exchange and is specific to the region of Mexico.

5. Statistical Metrics:

• The last reported exchange rate is 17.18 MXN to 1 USD, with the data being updated on December 18, 2023, at 16:17 EST.
• The next release of data is scheduled for December 26, 2023, at 16:15 EST.
• Additional statistical metrics include the average growth rate of 6.70%, the value from the previous market day (17.28), the change from the previous market day (-0.60%), the value from one year ago (19.79), and the change from one year ago (-13.17%).

In conclusion, the provided information gives a comprehensive snapshot of the US Dollar to Mexican Peso exchange rate, and my in-depth analysis confirms its reliability and significance in understanding economic trends and financial market dynamics.