Mexico’s Peso Rises On Crude Oil & US Stocks

The Mexican peso strengthened against the US dollar today for the fourth day as crude oil gained and the US equities went up, making Mexico’s peso the best performing currency of Latin America.

Prices for crude oil, one of the main sources of revenue for Mexico, rose 2.9 percent to $76.40 per barrel. The Standard & Poor’s 500 Index gained 0.5 percent. The Mexican currency advanced 0.1 percent last week.

USD/MXN fell from 12.878 to 12.855 as of 9:28 GMT today.

If you want to comment on the Mexican peso’s recent action or have any questions regarding this currency, please, feel free to reply below.