The Mexican peso appreciated 0.81% against the dollar, closing at 18.03 units on December 11, 2025, setting a new high for the year. This gain is attributed to carry trade operations bolstering the currency. Experts warn of a possible upward correction in the exchange rate.
On December 11, 2025, the Mexican peso set a new annual record against the US dollar, closing at 18.03 units after a 0.81% appreciation, or 15 centavos lower than the December 10 close. This strength is partly due to recent carry trade operations supporting the exchange rate.
Gabriela Siller, director of economic analysis at Banco Base, stated: “Oscillation indicators show that the margin for the peso to continue appreciating is limited, as it is on the verge of entering overbought levels.” She warned of a possible upward correction, especially if the market uses the level unseen since July 22, 2024, for currency hedges and advance dollar purchases.
In bank windows, such as Banamex, the dollar sold for 18.48 pesos and was bought at 17.46 units. In the bond market, the US 10-year yield was 4.10%, while Mexico's remained at 8.97%.
Among emerging market currencies, the Brazilian real led gains with 1.31%, followed by the Colombian peso (1.01%) and the Chilean peso (0.99%). In the US, markets reacted negatively to Oracle's plunge, its worst drop since 2021, due to higher spending on AI data centers.
Mexican markets will not operate on December 12 for the Virgin of Guadalupe holiday.
