Us Dollar To Mexican Peso Exchange Rate History Chart
For those interested in investing or doing business in Mexico, it is important to keep track of the exchange rate between the US dollar and the Mexican peso. This article will provide a comprehensive history of the exchange rate between the two currencies and how it has evolved over time.
Early 2000s
In the early 2000s, the exchange rate was relatively stable with the US dollar worth around 9 Mexican pesos. However, in 2002, the peso experienced a significant devaluation due to the country's economic crisis. The exchange rate fell to around 10 pesos per dollar, and it remained relatively stable until 2008.
2008 Financial Crisis
The 2008 financial crisis had a significant impact on the Mexican peso as well. The exchange rate fell from around 10 pesos per dollar to around 13 pesos per dollar. However, due to the country's strong economic fundamentals, the peso quickly recovered and stabilized at around 12 pesos per dollar.
2010-2014
Between 2010 and 2014, the exchange rate remained relatively stable with the US dollar worth around 12 Mexican pesos. However, in 2014, the peso experienced another devaluation due to falling oil prices and political uncertainty. The exchange rate fell to around 15 pesos per dollar.
2016 US Presidential Election
The 2016 US presidential election had a significant impact on the Mexican peso as well. During the campaign, then-candidate Donald Trump promised to renegotiate the North American Free Trade Agreement (NAFTA) and build a wall on the US-Mexico border. This caused the peso to fall to a historic low of around 20 pesos per dollar.
Present Day
As of August 2021, the exchange rate has stabilized at around 20 pesos per dollar. However, due to the ongoing COVID-19 pandemic and economic uncertainty, the exchange rate remains volatile and subject to change.
Conclusion
The exchange rate between the US dollar and the Mexican peso has gone through significant fluctuations over the years. While it has stabilized in recent years, it remains subject to volatility and external factors such as political uncertainty and economic crises. Investors and business owners should keep an eye on the exchange rate and adjust their strategies accordingly.