Mexican Peso Rises on Trump’s Electronics Tariff Exemption
Still, analysts caution that this does not signal a broader trend change. Volatility is expected to persist amid further announcements.
The Mexican peso appreciated against the dollar on Monday, nearing the key 20-per-dollar mark.
This movement was supported by improved risk appetite after the White House announced a tariff exemption for smartphones, computers, and other consumer electronics.
The exchange rate closed at 20.1029 pesos per dollar, compared to 20.2935 on Friday, according to data from the Bank of Mexico (Banxico). This represents a gain of 19.06 centavos, or 0.94%, for the peso.
During the session, the dollar traded between a high of 20.2967 and a low of 20.0228 pesos. Meanwhile, the U.S. Dollar Index (DXY)—which measures the greenback against a basket of six major currencies—fell 0.41% to 99.69 points.
Despite President Donald Trump noting that the exemptions were temporary and merely administrative, the market responded positively, and the peso posted one of the best performances among global currencies.
Still, analysts caution that this does not signal a broader trend change. Volatility is expected to persist amid further announcements on Trump’s evolving tariff policy.
Also notable were remarks from Federal Reserve Governor Christopher Waller, who warned that the administration’s trade policies pose a serious threat to U.S. economic stability and growth.
Mexican Stock Market
Mexican stock exchanges closed with strong gains on Monday, following global markets higher after the U.S. announced tariff exemptions on consumer electronics.
The benchmark S&P/BMV IPC index of the Mexican Stock Exchange (BMV), which tracks the most traded local stocks, rose 1.73% to 52,391.35 points. Meanwhile, the FTSE BIVA index from the Institutional Stock Exchange (Biva) climbed 1.78% to 1,064.52 points.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals