Live and Historical USD/MXN Rates
This chart compares the value of the United States dollar (USD) to the value of the Mexican peso (MXN) – that is how many Mexican pesos can purchase one United States dollar. The United States dollar is a major currency, but the Mexican peso is not. USD/MXN does not form a commodity pair or a major pair.
The relationship between the US and Mexico is obvious and quite important to both countries, though especially to Mexico. The best profit opportunities generally relate to Mexico, as the smaller economy. In particular, problems arise from the powerful Mexican drug cartels or from political agreements with the US. A major factor is the strength of free trade agreements between the two countries. In general, this has been quite stable. Some political unrest has occurred in Mexico, though generally the biggest problem is with government inefficiency. Finally, any announcements from the US Fed have an immediate and powerful affect.
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The U.S. Dollar
The United States dollar is the most used currency in international trade today. Over 23 currencies are pegged to it, but USD has been floating since the early seventies when the United States began this international transition. Some questions exist concerning how long the US will remain the super power currency. In 2007, Alan Greenspan suggested that it was possible the euro could overtake the number one spot from USD. However, this will require a long and complex transition, since a number of commodities are currently traded exclusively in dollars.
The Mexican Peso
As the 12th most traded currency in the world and the most traded currency in Latin America, the Mexican peso is the cornerstone of the Latin American currency market. Reintroduced in 1993 after a government debt default in 1982, it has steadily grown in trading volume. This is primarily because of its stability and the growth of foreign investment in the Mexican economy. The principle sector of the economy is services at nearly 70% of GDP, with industry taking 26% and 4% in agriculture. Though the country is currently rife with poverty and underemployment, significant strides are being made to change this through free trade agreements with 44 countries.
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