Study forsees that exchange rate for next year could reach up to 21.50 pesos per US Dollar

The exchange rate for next year could reach up to 21.50 pesos per US Dollar, according to the estimates of specialists. They expect the Mexican peso to finish this year at 21 pesos pero dollar.

According to a study conducted by CI Banco, on the projections of the exchange rate, in a negative economic scenario the dollar will skyrocket above 21 pesos, although it maintain a certain stability at that point, with a variation of 1.8% in average compared to the previous year.

At the end of 2019 experts estimate that the excahange rate would fluctuate between 19.35 and 21.00 pesos, in a monthly average.

Rafael del Moral, financial advisor, reported that an increase in the exchange rate that attracts more value to the foreign currency attracts more visitors, since their currency acquires more purchasing power and the destination becomes more attractive to travelers.

“Whenever the exchange rate goes up, tourists increase their spending and the areas that receive large amounts of foreign travelers are benefited, such as Cancun, Los Cabos and Vallarta,” he explained.

Although not all forecasts foresee that the dollar will reach 21 pesos next year, experts say this will depend on different scenarios.

The Yucatan Times Newsroom

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