The Mexican peso declined 0.43% against the US dollar on Tuesday, November 10, 2026, touching between 18.7090 and 18.6130 spot units after higher-than-expected US inflation figures spurred expectations of tighter Federal Reserve monetary policy.
- El peso mexicano depreciated to close at 18.6185 per dollar, pressured by a stronger US dollar and a 0.57% rise in the DXY index to 102.25 points, according to La Jornada.
- Despite losses across Wall Street indices—including a 0.74% drop in the Nasdaq—the Bolsa Mexicana de Valores (BMV) notched a record high, advancing 0.05% to 71 mil 893.88 puntos.
- US consumer prices rose 0.4% monthly in October, outpacing the 0.27% market consensus, leaving market operators pricing in an 85% probability of a 25-basis-point Federal Reserve rate hike on December 9.
US consumer prices rose faster than anticipated in October, with general prices climbing 0.4% against a projected 0.27%, according to Bureau of Labor Statistics data cited by La Jornada. The core consumer price index, excluding volatile food and energy components, increased 0.3% monthly, exceeding the 0.22% forecast. Year-over-year figures remained unavailable due to a government shutdown that disrupted data collection in October 2025.
The hotter-than-expected inflation metrics pushed the US dollar higher. Official Banco de México data tracked by Yahoo Finance put the final wholesale close at 18.6185 units per dollar, representing an 8.08-centavo loss.
The official exchange rate published by Banco de México stood at 18.5983 pesos per dollar. Against other global currencies, the euro closed at 20.8115 pesos, the Japanese yen at 0.1178 pesos, the British pound at 24.9459 pesos, and the Chinese yuan at 2.7881 pesos.
The S&P/BMV IPC index gained 0.05% to close at 71 mil 893.88 puntos, supported by upward movements in specific equities.
Gains from Controladora Vuela Compañía de Aviación (NYSE: VLRS) at 3.10% propelled the index, alongside a 2.79% advance for Grupo Aeroportuario del Pacífico (GAP) to 449.07 pesos.
| Index / Asset | Change | Closing Level |
|---|---|---|
| Mexican Peso (USD/MXN) | -0.43% | 18.6185 per dollar |
| S&P/BMV IPC | +0.05% | 71 mil 893.88 puntos |
| US Dollar Index (DXY) | +0.57% | 102.25 points |
| S&P 500 | -0.38% | 7 mil 521.11 enteros |
| Nasdaq Composite | -0.74% | 25 mil 65.87 puntos |
| Dow Jones Industrial Average | -0.30% | 52 mil 233.32 unidades |
The recent monetary easing by Banco de México (Banxico), which lowered its benchmark rate just prior to the session, has narrowed the interest rate differential supporting the local currency. Felipe Barragán, estratega sénior del bróker digital Pepperstone, noted to Milenio that expectations of a more restrictive Federal Reserve could limit Banxico’s capacity to continue normalizing policy without risking exchange rate stability.
Mario Ceballos, an analyst at Libertex, added: One of the advantages that has historically supported the peso is the differential between the rates of Mexico and the United States. If the Fed tightens its monetary policy again, it could decrease the attractiveness of investing in pesos.
Brent crude for January delivery settled at $91.49 per barrel, down 1.17%, while West Texas Intermediate (WTI) for December delivery dropped 0.93% to $86.04 per barrel. Economic projections from the Secretariat of Finance in its General Criteria for Economic Policy anticipate an average exchange rate of 19.3 pesos per dollar throughout 2026.
