USD / Mexican Peso
US Dollar to Mexican Peso Exchange Rate — Historical Chart
17.3235 MXN
▼ 7.84% YoYJul 2026
All-Time High
25.1320 MXN
All-Time Low
3.1022 MXN
Data Since
1993
Source: FRED / Federal ReserveShaded = NBER recessions
Mexican pesos per US dollar. The peso has become one of the world's top-performing emerging market currencies in the 2020s, driven by the nearshoring boom as manufacturers relocate supply chains from China to Mexico. Mexico became the US's #1 trading partner in 2023. The peso is also one of the highest-yielding major currencies, attracting carry trade flows — until it isn't, as 1994's Tequila Crisis and 2020's COVID crash demonstrated.