Mexican Peso Posts Weekly Gain Against the Dollar
The Mexican peso posted a weekly gain against the U.S. dollar, supported by improved investor sentiment toward Mexican assets.
On Friday, the peso appreciated for the fourth consecutive session, marking its strongest close since November. The exchange rate ended the day at 19.9238 pesos per dollar, improving from 20.0951 pesos the previous day, according to official data from Banco de México (Banxico). This represents a gain of 17.13 cents or 0.85% for the peso.
Dollar Weakens as Peso Gains
During the session, the exchange rate fluctuated between a high of 20.1221 and a low of 19.8477 pesos per dollar. Meanwhile, the U.S. Dollar Index (DXY), which measures the greenback against a basket of six major currencies, fell 0.13% to 103.70 points.
Positive Sentiment Toward Mexico
Investor confidence in the peso was further bolstered by positive remarks from U.S. officials. Secretary of State Marco Rubio acknowledged improved cooperation with Mexico on migration policies, while U.S. Commerce Secretary Howard Lutnick praised Mexico’s conciliatory stance on trade, particularly in response to new U.S. tariffs. These statements helped ease market concerns and supported the peso’s advance.
Weekly Performance and Market Outlook
The peso recorded four consecutive days of gains, closing the week with a 1.69% appreciation compared to last Friday’s exchange rate of 20.2672 pesos per dollar—a total gain of 34.34 cents.
Despite this strength, markets remain cautious. U.S. tariffs of 25% on steel and aluminum took effect Wednesday, prompting retaliation from Canada and the European Union, while Mexico plans to impose further tariffs on April 2.
For now, analysts see support at 19.70 pesos per dollar, with market attention turning to next week’s Federal Reserve monetary policy announcement.
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