Puerto Vallarta, Mexico – The Mexican peso appreciated against the US dollar on the morning of November 7, following heightened volatility after the United States presidential election. The exchange rate reached $19.97 pesos per dollar, marking a 0.55% gain for the Mexican currency compared to Wednesday’s close of $20.08.
The upward trend began around 3:00 a.m. and continued after Mexico’s National Institute of Geography and Statistics (Inegi) released the inflation figures for October. The National Consumer Price Index increased by 0.55% compared to the previous month, bringing the annual general inflation rate to 4.76%.
The peso’s appreciation coincided with a decline in the US dollar, whose weighted index dropped by 0.25%. Market attention is now focused on the Federal Reserve, which is set to announce its monetary policy decision around midday. Analysts expect a quarter-point interest rate cut. Federal Reserve Chairman Jerome Powell may also face questions regarding the impact of Donald Trump’s return on economic growth, inflation, and borrowing costs.
Globally, 14 out of the 16 major currencies tracked by Bloomberg posted gains against the dollar this morning. The Norwegian krone led with a 1.27% increase, while the Mexican peso ranked fifth among the gainers. In contrast, the Taiwanese dollar and the Brazilian real recorded losses against the dollar, decreasing by 0.20% and 0.08%, respectively.
