Puerto Vallarta, Mexico - The Mexican peso closed 2024 with a significant loss against the US dollar, marking its steepest annual decline since the 2008 financial crisis. The currency ended the year at 20.8829 pesos per dollar, reflecting a depreciation of 23.08% compared to the previous year’s closing rate of 16.9666, according to data from the Bank of Mexico. This represents a fall of 3 pesos and 91 cents over the course of the year.