Peso slips to 18.81 per dollar, weakest since August 2025

The peso weakened to 18.8148 per dollar on Oct. 29, its lowest level since Aug. 4, 2025, according to the FIX exchange rate published by Mexico's central bank, Banco de México (Banxico). That is nearly 15 centavos weaker than the day before, when the rate was 18.6673, and compares with 18.8783 on that day in August.

The FIX is an average of wholesale market quotes that Banxico sets each business day. It is not the price at a currency exchange counter or any dealer's closing rate.

The move came a day after the U.S. Federal Reserve held its benchmark rate at 3.75% to 4.00%. The vote was 10-2, with both dissenters favoring a quarter-point increase, and the statement said "inflation remains elevated." Neither the Fed nor Banxico has tied the peso's move to that decision.

The peso had been near its strongest of recent months on Sept. 4, when the FIX stood at 16.8748. The dollar has climbed almost without pause since, reaching 18.0692 on Sept. 30 and 18.6425 on Oct. 21. In all, that is 1.94 pesos in under two months.

A pricier dollar raises the cost of what Mexico imports, including fuel, food and electronics, and of servicing dollar debt. Families receiving remittances get more pesos for each transfer; people traveling or shopping abroad pay more.

At the Oct. 29 rate, a thousand dollars buys 18,814.80 pesos. On Sept. 4 the same amount bought 16,874.80.