Mexican peso ends fifth straight weekly loss at 18.41 per dollar
The currency lost 1.36 % from Oct. 5 to 9 after the Banxico minutes, while the Mexican stock exchange's main index gained 2.35 %.
The dollar closed at 18.4111 pesos on Friday, Oct. 9, 2026, the last session of the week, according to Banxico data picked up by El CEO. It is the fifth straight weekly loss for the peso: 1.36 % against the dollar between Oct. 5 and 9, and 1.15 % on Friday alone.
Markets are closed on weekends, so that is the latest figure. The peso is at its weakest since Nov. 24, 2025, when it closed at 18.5133.
Media outlets covering the close blame the minutes of Banxico, Mexico's central bank, released Thursday, Oct. 8. At the Sept. 24 meeting the bank held its benchmark rate at 6.50 %. According to El CEO, three members of the Board of Governors raised the possibility of rate cuts, and two did so explicitly. A lower rate narrows the gap with the U.S. rate and makes the *carry trade* less attractive: borrowing in a cheap currency to invest in one with a higher return.
Stocks moved the other way. The IPC, the main index of the Mexican Stock Exchange, closed Friday at 66 048.57 points and gained 2.35 % over the week, measured from its Oct. 2 close of 64 531.68.
Gabriela Siller, director of economic analysis at Banco Base, projects, according to El Financiero, that if Banxico cuts to 6.25 % and the Federal Reserve adjusts its rate to 4 %-4.25 % by year-end, the gap between the two rates would shrink to 200 basis points, a record low. It is a Banco Base projection, not a data point.
The figures come from the cited outlets and were not checked against Banxico's own series. The FIX exchange rate, which Banxico publishes in the Official Gazette, is a different measure and can differ from the close. Monday's, Oct. 12, will appear in the gazette on Tuesday, Oct. 13.
