Mexican peso posts biggest annual drop versus US dollar in 16 years

Published on: Tuesday 31 December 2024

Mexico's peso weakened nearly 23% this year to close the final day of trading at 20.82 pesos per U.S. dollar on Tuesday, the currency's deepest drop against the greenback since the 2008 global financial crisis. The peso's volatile year kicked off with months of steady gains until the days following June's general election, which swept the leftist coalition led by the ruling Morena party to a resounding victory in the presidential race as well as large congressional majorities. Ahead of the election, the Mexican currency traded in April at about 16.26 pesos per dollar to reach a nine-year high.

News source: https://finance.yahoo.com/news/mexican-peso-posts-biggest-annual-230300727.html

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Mexican peso posts biggest annual drop versus US dollar in 16 years