Mexican peso drops 0.89% to 17.84 per dollar on oil surge

The Mexican peso depreciated 0.89% against the US dollar on Monday, September 28, 2026, to reach 17.84 units per dollar, according to data from Bloomberg. The move represents an increase of 14 centavos compared with the close on Friday, September 25, 2026.

The currency's retreat followed higher crude oil prices and broader risk aversion linked to stalled talks between Iran and the United States regarding a ceasefire and the Strait of Hormuz. Brent crude climbed 2.74% to trade above $100 per barrel, while West Texas Intermediate stood at $94.58 per barrel.

In the local banking market, Banamex quoted the US dollar at 18.28 pesos for sale and 17.30 pesos for purchase during the session.

In fixed income markets, the US 10-year Treasury yield stood at 5.27%, while Mexico's 10-year sovereign bond yield was 9.51%. Felipe Mendoza, market analyst at EBC Financial Group, noted that solid non-oil exports and calm US yields could allow the exchange rate to test technical support between 17.62 and 17.68 pesos, or consolidate in a range of 17.65 to 17.85 pesos per dollar.

Other emerging currencies also declined against the US dollar during the session. The Chilean peso led losses with a 1.08% drop, followed by the Israeli shekel down 0.87%, the Hungarian forint down 0.74%, the Brazilian real down 0.72%, and the South African rand down 0.71%.