Mexican peso weakens 1.22% to 18.2025 per dollar

The Mexican peso depreciated 1.22% against the US dollar on Thursday, October 8, 2026, closing at 18.2025 units per dollar, according to data from Banco de México. The currency recorded its second consecutive session of losses against the dollar, trading between an intraday low of 17.99 and a high of 18.23 units.

At bank branches, the US dollar closed at 18.67 Mexican pesos at Banamex, 18.50 pesos at Banorte, 18.48 pesos at BBVA, and 18.20 pesos at foreign exchange houses. Concurrently, the dollar index, which tracks the currency against a basket of six major peers, retreated 0.15% to 102.09 points.

Market reaction followed the release of Banxico's latest meeting minutes, which reflected a more flexible monetary stance. In the minutes, the central bank noted that its policy decisions should not mirror foreign institutions like the Federal Reserve, pointing out that domestic inflation has moderated. One policymaker acknowledged that the interest rate differential between Mexico and the United States will continue to narrow, suggesting no upcoming rate hikes.

Gabriela Siller, director of economic analysis at Banco Base, noted that the peso was the most depreciated currency during the session, driven by expectations of further rate cuts that undermine carry trade operations. Meanwhile, Felipe Mendoza, market analyst at EBC Financial Group, noted that comments from Federal Reserve officials added pressure, citing Alberto Musalem of the Fed, who warned that rates may need to rise over the next 6 to 9 months to counter inflation.