On October 21, 2026, Banamex branches closed selling the dollar at 19.18 pesos, 30 centavos above Tuesday, according to El Universal. In wholesale trading the parity ended above 18.70 units, a depreciation of 1.4% that left the peso as the worst-performing currency of the session.
The move comes as the Bank of Mexico's Governing Board closely watches the exchange rate for its possible pass-through to prices. At the annual meetings of the International Monetary Fund and the World Bank, deputy governor Omar Mejía said inflation has eased but remains affected by relative price adjustments, and that the evidence shows limited exchange-rate pass-through when economic slack prevails. Deputy governor Galia Borja described the peso as a currency with high sensitivity to global factors and noted that the volatility of recent weeks reduces the appeal of carry trade operations. For Mexico the direct channel is the imported basket, which becomes more expensive when the dollar rises.
In September the peso lost 6.2% month on month in the FIX exchange rate, its largest depreciation in 26 months, wiping out its gain so far in 2026; for the year it has accumulated a decline of 3.6%, according to El CEO. Monex's director of Economic Analysis, Janneth Quiroz, placed among the sensitive goods electronics, household appliances, vehicles and their spare parts, machinery and industrial inputs. Banorte strategists linked the rise to higher US bond yields, after Brent reached 110 dollars per barrel. Banxico's benchmark rate remains at 6.50%, the teller dollar has accumulated a gain of 1.77 pesos since the start of September, and the price of 19.18 is the highest since September 5, 2025.
Banxico's next monetary policy decision and the evolution of core inflation mark the observation point for the year-end close: the Board conditioned its conduct on the risks that materialize for the price outlook.
This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.