2015’s rollicking ride for the Mexican peso vs. the U.S. dollar appears to be wrapping up with the dollar closing out the year very near its all-time high.
The exchange rate decreased $0.0026 pesos or 0.02% to $17.24 pesos on Thursday December 24 from $17.23 pesos in the previous trading session.
Looking back, the USD-MXN exchange gained $2.48 pesos or 16.81 percent during the last 12 months from $14.75 pesos in December of 2014. Historically, the Mexican peso reached an all-time high of $17.39 in early December 2015. The peso’s record low was $0.01 in May 1972.
Current record low world oil prices have been blamed for much of the peso’s weakness in respect to the U.S. greenback this year. However, as 2015 drew to a close, the administration of President Enrique Pena Nieto took steps to try to strengthen the Mexican currency, including raising interest rates.
The strong U.S. dollar has generally been a plus in respect to its important tourism industry. High American tourist traffic and hotel occupancy rates in 2015 have partially been attributed to the dollar’s strength, among other factors.
As long as you exchange your Dollars for Pesos while here, it’s like everything is on sale!
So fresh and so clean.
This article is brought to you by the Sonoran Resorts Sales Group, www.sonoranresorts.mx, Jim Ringquist, Director of Sales and Marketing.