Mexican peso weakens 1.16% to 17.71 per dollar

The Mexican peso depreciated 1.16%, or 20 centavos, to close at 17.71 pesos per dollar on Thursday, September 24. The move followed the monetary policy decision from Banco de México alongside broader geopolitical uncertainty that pressured energy prices. In bank branches, Banamex quoted the dollar at 18.18 pesos.

The DXY dollar index rose 0.17% to 101.27 points, while the Bloomberg Dollar Spot Index gained 0.28% to 1,215.77 units. Other currencies also lost ground against the dollar: the Indonesian rupiah fell 0.56%, the Chilean peso dropped 0.52%, the Swiss franc slid 0.36%, the Taiwan dollar lost 0.29%, the South African rand weakened 0.28%, and the Japanese yen declined 0.26%.

In sovereign debt markets, the 10-year US Treasury yield stood at 5.12%, while Mexico's 10-year bond yield remained at 9.37%.

Felipe Mendoza, market analyst at EBC Financial Group, projected an operating range between 17.58 and 17.82 pesos per dollar for Friday, September 25. Mendoza noted that if international investors digest Banxico's 6.50% interest rate spread alongside 3.4% local GDP growth, and if US yields ease amid easing tensions in Hormuz, the currency could test support between 17.52 and 17.60 pesos.