Economy

The Mexican peso continued its sustained strength against the U.S. Dollar on Saturday, February 21, 2026, closing at 17.13 pesos per dollar, a rate consistent with the beginning of the week. The currency’s performance reflects ongoing economic and political factors in both Mexico and the United States, according to financial analysts.

The decline of the dollar in Mexico began gaining momentum on October 15, 2025, driven largely by uncertainty surrounding U.S. Economic policy and international trade relations. Monex, a financial analysis firm, attributed the peso’s appreciation to concerns over the policies of the U.S. Administration and escalating trade tensions with China, particularly the imposition of increased tariffs.

Year-to-date, the U.S. Dollar has fallen 6.84% against the peso, a significant decrease. Over the past week, the dollar experienced a slight increase of 0.65%, but the overall trend remains downward. The peso has demonstrated considerable resilience, ranking as the fourth best-performing emerging market currency against the dollar, with an appreciation of 0.19 percent in recent days.

The official exchange rate, as determined by the Bank of Mexico (Banxico) and published in the Diario Oficial de la Federación (DOF), was 17.1722 pesos per U.S. Dollar on February 21, 2026. Commercial banks offered varying rates, with Afirme at 16.50 pesos for purchases and 17.90 pesos for sales, while Banco Azteca quoted 16.25 pesos and 18.04 pesos respectively. Bank of America offered 16.4474 for purchases and 18.3824 for sales. Banorte’s rates were 16.25 and 17.80, and BBVA Bancomer’s were 16.65 and 17.79. Grupo Financiero Multiva, Intercam, and BX+ also posted their respective buy and sell rates.

The Banxico FIX rate serves as a crucial benchmark for financial markets in Mexico, establishing the official value of the peso against the dollar. This rate is calculated as a weighted average of wholesale market transactions and ensures transparency and stability for businesses and individuals engaged in foreign exchange. The FIX is determined daily at noon and published in the DOF the following day.

The difference between the Banxico FIX rate and market prices stems from the calculation methods and usage. The Banxico FIX is a reference rate based on wholesale market transactions, while market prices reflect real-time buying and selling rates in banks and exchange houses, which fluctuate based on supply and demand, economic expectations, and international factors. Banks typically add commissions and profit margins to their rates, resulting in a higher price for consumers than the FIX rate.

Inflation in the United States is also impacting the peso’s value. Lower-than-expected U.S. Inflation figures, such as those reported on February 3, 2026, have led to expectations that the Federal Reserve may delay interest rate increases or even consider rate cuts. This weakens the dollar and generally strengthens the Mexican peso, reducing global demand for dollars and putting pressure on U.S. Authorities to avoid tightening monetary policy.