The Mexican peso closed at 18.9930 per dollar on Tuesday, gaining 0.80% after a ceasefire was announced between Israel and Iran. Markets also await Banxico’s rate decision.

The Mexican peso posted gains on Tuesday, rallying against the U.S. dollar as global markets reacted positively to a ceasefire between Israel and Iran, announced by former U.S. President Donald Trump after nearly two weeks of escalating tensions.

The exchange rate closed at 18.9930 pesos per dollar, marking a daily gain of 15.23 cents . . .