INSUBCONTINENT EXCLUSIVE:
The Mexican peso ended 2024 on a weak note against the United States dollar
Experts and the Bank of Mexico (Banxico) pointed to favorable bets on the American currency as the main cause
20.8829 units per dollar in interbank operations
The currency fluctuated between 20.9100 and 20.6990 during the final trading session
This marked its weakest value against the dollar for the year.The peso started 2024 at 17.0440 units per dollar
Its significant depreciation reflects the changing economic landscape throughout the year
Market dynamics shifted dramatically as the year progressed.Gabriela Siller, economic analysis director at Banco Base, highlighted the
She attributed this to expectations of a cautious Federal Reserve approach to interest rate cuts in 2025
This possibility has influenced market sentiment and currency valuations
Traders adjusted their positions in anticipation of potential risks in the coming year.Dollar Strength Pushes Peso to Yearly Low as 2024
EndsThe peso entered a volatile period against the dollar after the June 2 elections
Before the elections, on May 31, the peso traded at 16.9682 units per dollar.At that time, the Mexican government proudly dubbed the peso as
However, this nickname proved short-lived as economic realities set in
It also highlights the interconnectedness of global markets and political events
As the new year begins, all eyes will be on how the peso fares in this evolving economic landscape.
