The much-acclaimed “super peso” that was registered up to a year ago “has gone down in history” and is far from being seen again, said the deputy director of Economic Analysis at Intercam, Alejandro Fajardo Bonilla.
He said that, according to the trends in the US economy, issues such as tariff imposition, deportations and reduction of remittances, the Mexican peso is expected to continue in a state of “depreciation.”
He explained that the exchange rates that were seen in the first half of last year, in which the US currency was perceived at around 16.60 pesos, was due to a contraction in the production of goods.
Reaching higher levels than those currently seen, with an exchange rate higher than 19.90 pesos per unit, will depend on other factors, both political and interest rate movements, he said. Fajardo Bonilla added that the difference between the interest rates of the Bank of Mexico (Banxico) and the Federal Reserve (FED) is another of the points that will move the ground between the peso and the dollar.