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Mexico’s peso reels from Trump’s improving poll numbers

mexico interest rates

A picture illustration shows Mexican pesos and U.S. dollars banknotes in Mexico City July 6, 2015. REUTERS/Edgard Garrido

On Tuesday morning, Mexico’s peso was selling on average at 19.45 per dollar in banks. Mexico’s central bank says the peso’s interbank rate closed at 18.90 the day before.

The currency has been roughed up in 2016, losing nearly 10 percent of its value. Some of the volatility has appeared to track Trump’s campaign success. The Republican presidential candidate speaks harshly of Mexican immigrants, promises to build a wall along the border and wants to renegotiate the North American Free Trade Agreement.

An analysis by the Banco Base financial group published Tuesday says new poll results make it seem the U.S. election could be closer than previously thought.