Peso nears its best rate of 2026 as US-Iran tensions ease
The peso rebounded on Thursday after U.S. President Donald Trump suggested tensions between the United States and Iran were easing. At Friday’s opening, the exchange rate stood at 17.20 pesos to the US dollar, nearing its low point of the year. The lowest point so far was the 17.13 pesos per US dollar rate that it reached on Feb. 18. “The peso is benefiting from the increased risk appetite among investors, stemming from the progress in the Middle East negotiations,” financial services holding company Grupo Monex said. Gabriela Siller, director of economic analysis at Banco Base, said the peso’s attractiveness is also supported by “a weakening U.S. currency and increased appetite for emerging market assets, in an environment marked by expectations of interest rate cuts by the U.S. Federal Reserve.” Siller also said Mexico’s currency is benefiting from “a drag effect from the Colombian peso,” which is gaining against the US dollar because of the greater probability that the right-w...