Overview
- Spot trading hovered around 17.92–17.98 pesos per dollar on January 2, with a narrow intraday range as volumes normalized after holiday lows.
- The peso capped 2025 with a gain of roughly 13.7–13.8%, its strongest annual performance since Mexico adopted a free float in 1994.
- Banco de México’s official reference stayed near 18.00 pesos per dollar, with the latest FIX reported around 18.0012 for official and fiscal uses.
- Analysts cite expectations of easier U.S. monetary policy and improved global liquidity as tailwinds for emerging‑market currencies, while cautioning that liquidity effects around the New Year compressed early price moves.
- Regionally, Argentina began a banded exchange‑rate regime on January 2, and the official dollar at Banco Nación rose to 1,495 pesos as the central bank outlined a reserve‑accumulation plan.