US Dollar / Mexican Peso - USD/MXN

Created in 1993 on the basis of the old peso (1 MXN = 1000 MXP), the new Mexican peso is among the 15 more negotiated currencies on the Forex, with medium volumes equal to about $ 10 billion each day.

The USD/MXN cross is the more traded on the Forex and futures contracts exist on this cross in the as part of the CME (Chicago Mercantile Exchange).

After the crisis of 1994 that made the Mexican peso lose three times its value in a few days, the Mexican currency has became stable again since the end of the 1990 and the fluctuations of the USD/MXN cross oscillated from USD/MXN = 9 to USD/MXN = 13 until the Summer of 2008.

More precisely, concerning the last years, the cross decreased (so the peso re-appreciated) from the Fall of 2004 (USD/MXN = 11,50) to February 2006 (USD/MXN = 10,50), when an adjustment in favor of the dollar happened. So the cross increased at USD/MXN = 11.5 in June 2006 before a new slow bearish trend won.

So we had USD/MXN = 11,00 in January 2008, then USD/MXN = 10,35 by the beginning of June 2008 and the lower level in this period is USD/MXN = 9,91 on August 5, 2008.

A new and fast re-appreciation of the dollar happened in a few weeks in the context of the Financial and Stock Exchange crisis of the Fall of 2008; and the Mexican peso lost 33% of its value against the dollar between August and October 2008 (USD/MXN = 13,22 on October 9, 2008); and after, even 50% of its value: USD/MXN = 15,50 in March 2009.

A slight re-appreciation of the peso has been seen on the Forex and we had the exchange value USD/MXN = 13,1651 by mid-November 2009.