The Mexican peso lost about 9.6% of its dollar value between Sept. 4 and Oct. 23, as Banxico’s daily FIX rate rose from 16.8748 to 18.6670 pesos per dollar. ING’s Chris Turner attributed the weakness to dovish rhetoric from Banxico and warned that the interest-rate spread could reach a record low if Banxico did not match a Fed rate hike presumed for December. ING forecasts USD/MXN at 19.00–19.10 in the coming weeks absent a hawkish surprise at Banxico’s Nov. 5 meeting. Banxico held its overnight rate at 6.50% on Sept. 24, while the Fed’s target range of 3.75%–4.00% followed a 25-basis-point increase, leaving Banxico’s rate 250 to 275 basis points higher. Turner also cautioned that technology market unrest may be weighing on the peso, though the IMF’s October report only flags a possible AI-related correction as a global risk and does not establish it as the cause.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Mexican Peso Dollar Value Fell 9 . 6 % Ahead of Mexico Rate Decision
Read the original on econotimes.com ↗
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exchange ratesinterest ratesFedcentral bankMexico
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Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 101.74 |
| Change that session | +0.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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