The Mexican financial system continues to be resilient.
The global economy has been recovering, even though projections for 2023 point to a slowing of growth rates compared to the previous year. Global inflation...
For the first time since December 2015, currency exchange houses are offering less than 17 pesos for every dollar.
Bloomberg estimates that since the start of this year, the value of the American dollar relative to the Mexican Peso has decreased by around 10%.
Amanda Perez, a San Diego resident, has taken notice.
Mrs. Perez said that she regularly exchanges dollars for pesos before going out to eat and shop in Rosarito.
"I often trade money", Mrs. Perez stated "I get pesos for shopping, dining out, and buying souvenirs."
She claimed that she and her family have noticed a consistent decrease in the amount of pesos they receive while exchanging money, making everything more expensive than it used to be in Mexico. "Even street tacos are more expensive" , she said.
The annual vacation trip to Mexico that she and her husband usually take will cost them extra this summer, she claimed.
"Compared to last year, we will pay 10,000 pesos more." That amounts to an extra $ 610 dollars.
The Washington Post reported that Chinese businesses have increased their financial and resource investments in Mexico alongside American businesses, strengthening both the Mexican economy and the peso.
More Mexican consumers may shop in American border cities if the peso continues gaining strength.
According to experts, the increase in U.S. interest rates has also contributed to the peso's strengthening position against the dollar.
However, by the end of the year, analysts at Bloomberg and elsewhere anticipate that the dollar will regain its value against the mexican Mexican peso.