Today, Saturday, February 22, 2025, the average exchange rate for the US dollar to Mexican Peso in Mexico stands at 1 Dollar = 20.3087 Pesos.
⇧ 0.0063 0.03%
- Buy Rate: 19.9043 MXN
- Sell Rate: 20.7131 MXN
It’s important to note that today is a Bank Holiday in Mexico.
Exchange Rate Trends:
- This Week: ⇧ 0.01 0.04%
- This Month: ⇩ -0.24 -1.18%
- This Quarter: ⇩ -0.34 -1.63%
- This Year: ⇩ -0.34 -1.63%
- Since Biden Administration Began: ⇧ 0.69 3.52%
- Since AMLO Administration Began: ⇧ 0.22 1.08%
The table below compares the US Dollar to Mexican Peso exchange rates published today by various banks and Mexican government entities.
| Institution | USD Buy Rate | MXN Sell Rate | Buy | Sell |
|---|---|---|---|---|
| Afirme | 19.30 | 20.90 | ||
| Banco Azteca | 19.30 | 20.69 | ||
| Banco de México, FIX (Friday) | 20.3448 | |||
| Banco de México, Interbank 48 hrs Opening (Friday) | 20.311 | 20.318 | ||
| Banco de México, Interbank 48 hrs Maximum (Friday) | 20.427 | |||
| Banco de México, Interbank 48 hrs Minimum (Friday) | 20.307 | |||
| Bank of America | 19.2678 | 21.5054 | ||
| Banorte | 19.15 | 20.70 | ||
| BBVA Bancomer | 19.50 | 20.83 | ||
| Citibanamex | 19.79 | 20.92 | ||
| DOF, Diario Oficial de la Federación | 20.3733 | |||
| Grupo Financiero Multiva | 20.47 | |||
| Inbursa | 19.90 | 20.90 | ||
| Intercam | 19.91 | 20.969 | ||
| Monex | 19.37 | 21.41 | ||
| For Obligations Payments | 20.3733 | |||
| SAT, Servicio de Administración Tributaria | 20.3733 | |||
| Ve por mas (Friday) | 19.8098 | 21.0248 | ||
| Average (n=18) | 19.9043 | 20.7131 | ||
| Mean Average | 20.3087 |
Factors Influencing the USD to MXN Exchange Rate
Understanding the USD to MXN exchange rate is crucial for anyone living in Mexico, doing business there, or traveling to the country. This rate, indicating how much the dollar is worth in Mexican pesos, is not static. It fluctuates constantly due to a variety of interconnected factors, reflecting the dynamic nature of global economics.
Several key elements influence these daily dollar to Mexican peso movements:
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Economic Health of Both Nations: The strength of the US and Mexican economies plays a primary role. Positive economic indicators in the US, such as strong employment figures or GDP growth, can strengthen the dollar. Conversely, a robust Mexican economy can bolster the peso. Factors like inflation rates, interest rates, and levels of national debt in both countries are continually assessed by markets.
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Interest Rate Differentials: The difference in interest rates set by the central banks of both countries (the U.S. Federal Reserve and Banco de México) is a significant driver. Higher interest rates in Mexico can attract foreign investment, increasing demand for the peso and potentially strengthening it against the dollar.
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Trade Balance and Commodity Prices: As a major exporter, particularly of oil, Mexico’s trade balance and commodity prices significantly impact its currency. A positive trade balance or rising oil prices can improve the value of the peso. Conversely, dependence on trade with the U.S. means that changes in U.S. trade policy can also have considerable effects.
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Political Stability and Government Policies: Political events and policy changes in both the U.S. and Mexico can create volatility. Elections, changes in government leadership, or significant policy announcements can all influence investor confidence and, consequently, the exchange rate. For instance, changes in fiscal policy, trade agreements, or regulatory environments can lead to currency fluctuations.
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Market Sentiment and Global Events: Global economic events, such as international crises, pandemics, or shifts in global market sentiment, can have ripple effects on the USD to MXN exchange rate. Market perceptions of risk and stability can drive investment flows and currency valuations.
Image alt text: News headline from El Financiero: Cetes, Mercado Pago, Klar, and Stori Lower Rates: Which one gives you more if you invest a thousand pesos?
Where to Find the Best USD to MXN Exchange Rates
For those looking to exchange dollars to pesos in Mexico, it’s essential to know where to find the most favorable rates. Here are some common options and what to consider:
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Banks: Banks across Mexico, including major institutions like Banamex, BBVA Bancomer, and Banorte, offer currency exchange services. However, bank rates are often less competitive than other options. Banks provide convenience and security, but their buy and sell rates for USD to MXN may not be the most advantageous. It’s always wise to compare rates from different banks as they can vary.
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Currency Exchange Houses (Casas de Cambio): These specialized exchange bureaus typically offer better exchange rates compared to banks. Located in airports, tourist areas, and city centers, they are convenient for quick currency exchanges. However, rates can still vary significantly between different casas de cambio, so it’s advisable to check a few before making a transaction.
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Airports: While airports offer exchange services, they generally provide the least favorable rates due to the convenience and captive customer base. Exchanging currency at airports should typically be a last resort if other options are unavailable.
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Credit and Debit Cards: Using credit or debit cards for purchases in Mexico can be a convenient way to manage currency exchange. The exchange rate is usually determined by the card network (like Visa or Mastercard) and is generally competitive. However, be aware of potential foreign transaction fees charged by your bank or card issuer. It’s important to inform your bank of your travel plans to avoid any issues with card usage.
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ATMs: Withdrawing pesos from ATMs in Mexico using a debit card can offer competitive exchange rates. ATMs often use interbank rates, which are closer to the mid-market rate. However, similar to credit card usage, be mindful of ATM fees charged by both your bank and the local ATM operator, as well as potential foreign transaction fees.
Image alt text: News image from El Financiero showing a bank ATM with a headline: Are cashiers accomplices? This is the modus operandi of robbers targeting bank clients.
Staying Updated on the Exchange Rate
Given the fluctuations in the USD to MXN exchange rate, staying informed is key. Reliable sources for tracking the exchange rate include:
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Banco de México (Banxico): The official source for exchange rates in Mexico. Banxico publishes daily rates, including the FIX rate, used for official transactions.
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Financial News Websites: Websites like El Financiero, Bloomberg, Reuters, and specialized financial portals provide up-to-date exchange rate information and analysis.
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Currency Converter Tools: Numerous online currency converters offer real-time exchange rates. However, always verify these rates with official sources, especially for significant transactions.
In Conclusion
The USD to MXN exchange rate is a vital economic indicator influenced by a multitude of factors. Today, the average rate is around 20.3087 pesos per dollar, but this figure varies across institutions. For those needing to exchange currency in Mexico, comparing rates from different banks and exchange houses is crucial to secure the best possible deal. Staying informed through reliable sources will help you navigate the fluctuations of this important exchange rate.
Disclaimer: Exchange rates are constantly changing. The information provided here is for informational purposes only and should not be considered financial advice. Always consult with a financial professional for specific financial decisions.
