Historic! One dollar = 24.11 pesos

The US dollar exchange rate hits a new all-time high this Wednesday March 18th, rising up to the 24-peso level.

The weakness of the Mexican peso against the dollar (which is at levels never seen before), opens the way for imported goods to “become more expensive”, analysts warn.

The dollar can go up to 25 pesos in weeks to come, although it could return to 20 or 19 pesos, once the Pandemic situation has passed, experts estimate.

The Mexican peso went from being the currency with the best performance so far in 2020 to the worst, due to economic fears, and also due to the effects of coronavirus over the world’s stock exchange.

Among the products that Mexico imports the most are cell phones and computers (just to name a couple), so, if you sere thinking about buying a new iPhone, be ready to pay a lot more of those “pesos”.