LOCAL NEWS

Understanding the Impact of the Mexican Peso’s Exchange Rate

How the Peso's Performance Influences Inflation, Exports, and Tourism in Mexico

mexican pesos money

 

As of June 17, 2024, the exchange rate for the Mexican peso (MXN) to the US dollar (USD) is 18.54 MXN per USD. This represents an 8.27% increase from the same time last year, indicating that the Mexican peso has depreciated against the US dollar over the past year​ (YCharts)​​ (EFA Forecast)​.

Implications for Mexico

  1. Inflation: A weaker peso can lead to higher inflation in Mexico. Imported goods and services become more expensive, which can drive up the overall cost of living. This is particularly relevant for essential items that Mexico imports, such as food and energy.
  2. Exports and Tourism: On the positive side, a weaker peso can make Mexican goods and services cheaper for foreign buyers, potentially boosting exports. It also makes Mexico a more attractive destination for tourists, as their money goes further when exchanged for pesos. This can positively impact the tourism industry and related sectors.
  3. Foreign Debt: For Mexico’s government and businesses that have debt denominated in foreign currencies, a weaker peso means that servicing and repaying this debt becomes more expensive in peso terms. This can strain financial resources and affect fiscal stability.
  4. Economic Growth: The overall impact on economic growth can be mixed. While exports and tourism may get a boost, the increased cost of imports and potential inflationary pressures can dampen consumer spending and investment.

Future Outlook

The exchange rate forecast suggests that the peso might continue to experience fluctuations. Predictions for June 2025 estimate the exchange rate to be around 20.04 MXN per USD, with potential for further fluctuations throughout the year​(EFA Forecast)​.

Overall, while the depreciation of the peso presents certain economic challenges, it also offers opportunities for boosting export competitiveness and tourism revenues, which can be beneficial for Mexico’s economy in the longer term.

 

YCharts Data Entry (June 2024)

Date USD to MXN Exchange Rate
June 17 18.54
June 14 18.57
June 13 18.70
June 12 18.83
June 11 18.36
June 10 18.36
June 07 17.89
June 06 17.60
June 05 17.65
June 04 17.98
June 03 17.54
May 31 16.99
May 30 17.02
May 29 16.82
May 28 16.64
May 27 16.68
May 24 16.68
May 23 16.63
May 22 16.66
May 21 16.55
May 20 16.60
May 17 16.68
May 16 16.73
May 15 16.87
May 14 16.80
May 13 16.74
May 10 16.77
May 09 16.94
May 08 16.94
May 07 16.87
May 06 16.92
May 03 16.95
May 02 16.94
April 30 16.97
April 29 17.09
April 26 17.24
April 25 17.04
April 24 16.92
April 23 17.12
April 22 17.12
April 19 17.35
April 18 16.94
April 17 16.99
April 16 16.84
April 15 16.57
April 12 16.52
April 11 16.45
April 10 16.33
April 09 16.31
April 08 16.45

This table is to illustrate the changes in the USD to MXN exchange rate over time, highlighting the fluctuations and trends in the peso’s value.

The Cabo Magazine Logo- Dark

THE CABO MAGAZINE

The Cabo Magazine, based in Cabo San Lucas, is a trusted media platform showcasing Baja California Sur's vibrant culture. Through engaging print, digital, and interactive content, it covers food, travel, luxury lifestyles, real estate, and local events, connecting readers to the best of Cabo.

Trending Now

Business Spotlight

Cabo Magazine ADS

Related Articles

LOCAL NEWSREAL ESTATE

Los Cabos Sees Unprecedented Surge in Tourism and Relocation—Here’s Why

Los Cabos is no longer just a vacation hotspot—it’s becoming a permanent...

Cabo new roads
LOCAL NEWS

Exciting News: A New Road to Connect Cabo San Lucas & San José del Cabo is Coming!

If you’ve ever traveled between Cabo San Lucas and San José del...

LOCAL NEWS

Britney Spears Begins Her Search for a Home in Los Cabos

Britney Spears, the world-renowned pop icon, has set her sights on finding...

LOCAL NEWSSPORTS

World Wide Technology Championship & DIF Cabo San Lucas Event

On Wednesday, November 6, at 4:00 PM, Playa Caracoles in the Jacarandas...

Subscribe to Newsletter

Join Los Cabos’ Most-Wanted Newsletter Today!

* indicates required

The Cabo Magazine is your ultimate guide to Los Cabos. From exclusive local events and top dining spots to essential travel tips, we connect you with the best of Baja California Sur. 

Sponsored

Contact US

Advertise with us

Latest News

THE LOCAL SPOTLIGHT

Luxury Whale-Watching Tours with Cabo Estate Management

Every winter, the waters of Cabo San Lucas transform into a breathtaking...

2024 The Cabo Magazine. All rights reserved.

Receive the latest news

Subscribe To Our Weekly Newsletter

Get all the latest Los Cabos news straight to your email!

* indicates required

Skip to content