The Mexican peso was little changed at 19.8 against the USD, not far from last week's nine-month high of 19.7, as demand for riskier currencies was supported by optimism over a US stimulus package and the roll-out of COVID-19 vaccines globally. On Thursday, Mexico's central bank kept interest rates unchanged, but hinted it may reduce borrowing costs in the coming months to support the economy. On the economic data front, aggregate demand contracted 11.4 percent from a year earlier in the third quarter of the year, more than an expected 10.5 percent slump.
Historically, the Mexican Peso reached an all time high of 25.78 in April of 2020. Mexican Peso - data, forecasts, historical chart - was last updated on December of 2020.
The Mexican Peso is expected to trade at 20.07 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 20.50 in 12 months time.