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The Mexican peso has appreciated to 17.9 per US dollar, touching its highest point since July 2024. This rise is supported by stronger-than-anticipated domestic economic activity, persistently high Mexican interest rates, and a weakening US dollar. As of November 2025, Mexico's unemployment rate was recorded at 2.7%, a slight increase from 2.6% the previous year, which aligns with projections. This indicates tight labor market conditions that support stable income patterns. Economic performance also exceeded expectations, with the economic activity index increasing by 1.7% year-on-year in October. This growth counteracts fears of a more pronounced economic slowdown and reduces immediate pressure for aggressive monetary policy easing. In response, Banxico implemented a predicted 25 basis point rate cut to 7.00% and indicated a pause based on economic data, signaling confidence that inflation will move towards the 3% target, even though core inflation remains above 4%. Concurrently, the US dollar declined amid forecasts of potential Federal Reserve rate cuts in the coming year.
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