Mexico: Mexican peso recovers strongly in January
January 1, 2012
On 31 January, the Mexican peso (MXN) traded at 13.04 per USD, which was 6.5% stronger than the 13.95 MXN per USD recorded at the end of the previous month. Owing to the monthly appreciation, the peso is now trading at levels not seen since September 2011, although the Mexican currency has still lost 7.6% compared to the end of the same month last year. The appreciation of the peso came in line with developments seen across other emerging market economies. Going forward, the Consensus Forecast panel anticipates that the peso will remain broadly stable.