Overview

• Average daily peso turnover rose to about $153 billion, or 1.6% of a global FX market now averaging $9.6 trillion per day after a 28% jump since 2022.
• The currency climbed two places since 2022 to 14th overall and third among emerging‑market peers behind the renminbi and the rupee.
• BIS says 82% of peso trades take place offshore, supporting round‑the‑clock liquidity that analysts expect to reduce volatility.
• Banxico said the April 2025 survey window coincided with heightened activity after major policy announcements.
• The peso posted a 1.86% September gain and is up about 12.29% this year, with moves tied to Banxico and Fed rate cuts and carry trades; on Sept. 30 it edged to 18.34 per dollar as investors watched U.S. fiscal talks and labor data.