Dollar Trades at 16.98 Pesos, a Low Not Seen Since May 2024
Mexico’s ‘super peso’ smashes past the 17-peso barrier to 16.98 per dollar, its strongest since May 2024, another embarrassment for the doomsayers who told everyone to buy dollars.
Mexico’s ‘super peso’ smashes past the 17-peso barrier to 16.98 per dollar, its strongest since May 2024, another embarrassment for the doomsayers who told everyone to buy dollars.
The World Bank ranks Mexico second only to China in AI-input exports, even as adoption lags at home and a third of Mexicans are more worried than excited about it.
Pemex, Mexico’s state-owned oil company, cut its debt while hydrocarbon output rose 4.6% and sales revenue jumped 30.3% year on year.
Mexico’s trade surplus jumped to $9.857 billion from $1.433 billion a year earlier, as non-oil exports surged 25.6 percent on booming US demand for electronics.
“The social sector represents all those forms that do not compulsively pursue the objectives of the capitalist economy. They have as their antecedent all the community and cooperative forms that have not been able to be subsumed under the logic of profit”
Real wages in Mexico rose 15.1% over five years, nearly triple the OECD average, while only the US and Canada saw their real minimum wage fall.
Mexico stays the top US trading partner at 16.5% of the total, ahead of Canada and China, just days after Washington declined to auto-renew USMCA for 16 years.
Inegi data shows the first investment upturn in 19 months, driven by residential construction and imported machinery, though analysts warn the pillars are narrow.
Concamin head Alejandro Malagón backed the government’s stance, citing a ten-year guarantee, calm markets, and exports up more than 23 percent under Plan México.