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Monday, July 15, 2019
06:05 PM
Mexico Central Time
MARKETS AND DATA: US Dollar: $12.65 Euro: $16.78 Gold: US$1,327 Silver: US$20.39 Mex Crude: US$102.50 Cetes 28: 3.85%

posted 2009-06-08
Crisis hits bottom floor
The Private Sector Specialists Survey managed by the Mexican Central Bank estimates an inflation rate of 4.41% with a negative GDP of 5.8% for 2009. The consensus is that the economic crisis bottom floor is reached in the second quarter of 2009.

posted 2009-05-29
Positive May for financial data.
The peso recovered 5% to the U.S. Dollar. The Mexican Crude Oil gained 22% scoring above the US$60 barrier. The Mexican Stock Exchange experienced an 11% rise. The gold and silver increased 6% and 19%.

posted 2009-05-27
Back to the Tequila Effect
The estimation of the Mexican GDP per capita plunged 28% in the first quarter of 2009. The new figure reported represents a $7,255 U.S. Dollars yearly income per person. According to the National Institute of Geography and Statistics INEGI the fall is compared to the figures reported during the economic crisis lived in 1995 and named the Tequila Effect.

posted 2009-05-19
Postive economic data
The Mexican Stock Exchange BMV is performing in its best level since Black October. The stock index (IPC) is rounding the 24,500 points. The peso parity rate is also operating well in the region of $13.00 per U.S. Dollar.

posted 2009-04-22
Growth could reemerge in 2010
IMF projected a deeper shrink in the Mexican economy in 2009, but alleged a quicker recovery for 2010 than originally expected. According to the IMF´s April World Economic Outlook the Mexican output will decline by 3.7 percent in 2009; and in 2010 it will reemerge, but with a growth of 1 percent.

posted 2009-03-05
Fueling the Mexican Peso
The Mexican Central Bank announced the modification of the existent policy for intervention to the exchange market. The aim is to revisit the Peso to a more unbiased parity. Beyond of the auction´s system established since October last year, a new auction´s system will be implemented to offer 100 million Dollars to the market on a daily basis.

posted 2009-02-23
Mexican Peso on $15 per US Dollar
The Mexican Peso is suffering again from an odd economic scenario; after a week of turbulence, the exchange rate is moving to a “non-convenient” $15 per US Dollar.

posted 2009-02-02
Mexican Peso reached $14.50
In spite of bank holiday, the Mexican Peso reached historic high at a rate of $14.50 per US Dollar; a 38% depreciation since the beginning of the economic crisis in September 2008.


Currencies´ performance to the US Dollar

July 23, 2009. 14:04

Among the most important currencies of the world, the Mexican Peso highlights because of its depreciation to the U.S. Dollar from the time when the economic crisis started.

Up to date, the Peso has won stability accepting a 25% slide compared to the parity experienced before Black October. It seems that the new scenario will be a retail exchange rate rounding the $13.5 Pesos per U.S. Dollar.

This circumstance doesn´t necessarily signal bad news to the Mexican economy. It all depends. For example, exports are now boosted by more attractive export prices. On the other hand, a weaker peso suggests a reduction in the purchasing power parity of the Mexicans.

Click on the image to see how other currencies have performed compared to the U.S. Dollar.

DoingBusinessInMexico Staff
Published: July 23, 2009. 14:04 | Last updated: July 23, 2009. 14:07
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