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The Mexican peso ended the first session of 2025 with a significant gain against the U.S. dollar, breaking a four-day losing streak.

According to data from the Bank of Mexico (Banxico), the peso closed at 20.6185 pesos per dollar, marking an appreciation of 1.27% or 26.4 centavos. This represents the peso’s strongest advance since December 20, when it appreciated by 1.30%.

The exchange rate fluctuated between a high of 20.7590 and a low of 20.5800 during the session, as reported by Banxico.

Emerging Market Currencies

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Meanwhile, the U.S. Dollar Index (DXY), which measures the greenback against a basket of six major currencies, rose 1.06% to 109.28 points. Despite this, the peso stood out among the day’s top-performing currencies.

The Russian ruble led gains with a 2.31% appreciation, followed by the Mexican peso (+1.27%), Brazilian real (+1.21%), Colombian peso (+0.59%), South Korean won (+0.22%), and Australian dollar (+0.19%).

Mexican Peso Performance

By ending its losing streak, the peso partially recovered the 3.40% depreciation accumulated over the previous four sessions. It now ranks as the second-best-performing currency among emerging markets in terms of gains against the dollar.

The peso’s performance was buoyed by stable trading volumes, even as the U.S. dollar advanced. However, caution remains regarding potential economic risks tied to policies introduced by Donald Trump and their impact on the Mexican economy.

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.