Mexican Peso Climbs Against the Dollar, Securing a Monthly Win
For the month, compared with October’s close of 18.5796, it strengthened 28.43 centavos, or 1.53%.
Quick overview
- The Mexican peso strengthened against the U.S. dollar, closing at 18.2953 pesos per dollar.
- This increase was supported by expectations of a Federal Reserve interest rate cut in December.
- The peso gained 1.02% on a weekly basis and 1.53% for the month.
- Mexico's unemployment rate remained stable at 2.6% last month.
The peso strengthened in a low-volume session, supported by bets on a Federal Reserve rate cut in December, extending its monthly gains.
The Mexican peso inched higher against the U.S. dollar on Friday. The local currency advanced in a low-volume session, supported by renewed bets that the Federal Reserve will cut interest rates in December, further extending its solid monthly performance.
The exchange rate closed at 18.2953 pesos per dollar, compared with 18.3492 in Thursday’s official Banco de México (Banxico) data. This marked an improvement of 5.39 centavos, or 0.29%.
The dollar traded in a range between a high of 18.3818 and a low of 18.2910. The U.S. Dollar Index (DXY), which measures the greenback against six major currencies, slipped 0.10% to 99.46 points.
The peso advanced in a session marked by subdued activity following the U.S. Thanksgiving holiday, which carried over into a shortened trading day on Friday. The exchange rate remained broadly stable, firming late in the session.
The dollar has steadied after a depreciation trend in the first half of 2025, and Banxico’s rate cuts have not had a noticeable impact on the peso—factors supporting exchange-rate stability. Comments from Fed officials, including Governor Christopher Waller and New York Fed President John Williams, along with U.S. economic data, have reinforced expectations of a rate cut next month.
On a weekly basis, from last Friday’s close of 18.4847, the peso gained 18.94 centavos, or 1.02%. For the month, compared with October’s close of 18.5796, it strengthened 28.43 centavos, or 1.53%.
In local data, Mexico’s seasonally adjusted unemployment rate came in at 2.6% last month. The non-seasonally-adjusted figure also stood at 2.6%, according to Inegi.
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