About USD/MXN
USD/MXN is the most liquid emerging market currency pair, with the Mexican peso benefiting from deep integration with the US economy. Mexico sends roughly 80% of its exports to the United States, so US economic strength, trade policy, and remittance flows directly impact the peso. Banxico (Bank of Mexico) interest rate decisions are the primary domestic catalyst. Banxico has historically maintained relatively high rates, making the peso a popular carry trade - traders borrow in low-yielding currencies to buy MXN for the interest rate spread. US-Mexico trade negotiations and political rhetoric can cause sharp moves. Daily ranges average 200-500 pips (0.02-0.05 pesos), with spreads of 10-30 pips. The pair is most active during the New York session, when both US and Mexican markets are open. USD/MXN often trends well on daily charts and tends to react strongly to US election cycles and NAFTA/USMCA developments.
Historical Rates - Last 7 Days
| Date | Close | Change |
|---|
| 2026-08-22 | 16.9510 | -0.64% |
| 2026-08-23 | 16.9454 | -0.03% |
| 2026-08-24 | 16.9150 | -0.18% |
| 2026-08-25 | 16.9442 | +0.17% |
| 2026-08-26 | 16.9435 | -0.00% |
| 2026-08-27 | 16.9430 | -0.00% |
| 2026-08-28 | 16.9625 | +0.12% |
See full price history on the historical rate lookup tool.
Frequently Asked Questions
What is the pip value for USD/MXN?
One standard lot (100,000 units) on USD/MXN has a pip value of approximately $10.00. The minimum price increment (tick) is 0.0001. A pip is typically the third decimal place for this pair, meaning 1 pip = 0.0001 for most pairs.
What time is USD/MXN most active?
USD/MXN sees its highest trading volume during the New York session. As an exotic pair, liquidity can thin significantly outside of the primary sessions listed above. Spreads widen and slippage increases during off-hours.
What economic events affect USD/MXN most?
The most impactful events for USD/MXN come from the USD and MXN economies. US releases — non-farm payrolls, CPI, FOMC rate decisions, and GDP — are among the most market-moving events globally. A surprise in any of these can shift the pair 50–100 pips within minutes. The upcoming events section above lists the specific releases scheduled in the next two weeks.