Mexican Peso Closes Week Higher as Markets Stay Focused on Donald Trump

On the week, the peso posted a solid gain. Compared to last Friday’s close of 18.8529, the currency improved by 22.32 centavos, or 1.18%.

Quick overview

  • Markets were quiet on U.S. Independence Day, with traders focused on the upcoming deadline for new U.S. tariffs.
  • The Mexican peso appreciated by 0.18% against the dollar, closing at 18.6297 pesos per dollar.
  • Mexico's stock markets ended slightly higher, with the S&P/BMV IPC index rising 0.15% amid tariff uncertainty.
  • For the week, the S&P/BMV IPC gained 1.02%, reflecting a strong performance compared to U.S. indices.

Markets were quiet on U.S. Independence Day, with traders increasingly focused on the upcoming deadline for new U.S. tariffs on several countries.

The Mexican peso ended Friday’s session with gains against the dollar. The local currency strengthened slightly in thin trading, as U.S. markets remained closed for the July 4 holiday.

The exchange rate closed at 18.6297 pesos per dollar. Compared to Thursday’s official close of 18.6629, according to data from the Bank of Mexico (Banxico), the peso appreciated by 3.32 centavos, or 0.18%.

The dollar traded in a narrow range, hitting a high of 18.6703 pesos and a low of 18.6144. The U.S. Dollar Index (DXY), which measures the greenback against a basket of six major currencies, fell 0.18% to 97.01.

USD/MXN

On the week, the peso posted a solid gain. Compared to last Friday’s close of 18.8529, the currency improved by 22.32 centavos, or 1.18%, reaching its strongest level in over 10 months.

Markets showed little movement and remained cautious on Friday due to the U.S. holiday, as attention shifts to the looming deadline for the reactivation of reciprocal tariffs, set for July 9—dubbed “Liberation Day” by the Trump administration.

Investors are watching closely to see whether President Trump will finalize new trade agreements or opt to extend the current tariff pause.

Mexican Stocks See Marginal Gains as Tariff Uncertainty Looms

Mexico’s stock markets ended Friday slightly higher, with local indices edging up as investors began to look toward the end of Trump’s grace period on tariffs targeting multiple countries.

The benchmark S&P/BMV IPC index, which tracks the most traded Mexican stocks, rose 0.15% to 57,977.76 points. The FTSE BIVA index, from Mexico’s Institutional Stock Exchange (Biva), advanced 0.09% to 1,169.76 points.

For the week, the S&P/BMV IPC gained 1.02%. So far in 2025, the index has surged 17.10%—a performance that has outpaced many of its U.S. counterparts.

ABOUT THE AUTHOR See More
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.

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