1 USD to MXN Historical Exchange Rates
The Mexican Peso (MXN) is the official currency of Mexico, and it has a significant impact on international trade and investment. Understanding the historical exchange rates between the United States Dollar (USD) and the Mexican Peso can provide valuable insights for businesses, investors, and individuals involved in international transactions.
Historical Exchange Rates: 1 USD to MXN
Here's a snapshot of the historical exchange rates between 1 USD and MXN over the past few years:
| Year | Average Exchange Rate (1 USD to MXN) |
|---|---|
| 2022 | 20.35 |
| 2021 | 20.69 |
| 2020 | 22.14 |
| 2019 | 19.23 |
| 2018 | 18.44 |
| 2017 | 18.62 |
| 2016 | 18.19 |
| 2015 | 15.89 |
As you can see, the exchange rate has fluctuated significantly over the years, influenced by various economic and geopolitical factors.
Key Events Affecting the Exchange Rate
Several events have contributed to the changes in the USD/MXN exchange rate:
2020: COVID-19 Pandemic
The COVID-19 pandemic led to a significant depreciation of the Mexican Peso against the US Dollar, reaching an all-time high of 25.36 MXN per USD in March 2020.
2018: NAFTA Renegotiation
The renegotiation of the North American Free Trade Agreement (NAFTA) led to increased volatility in the exchange rate, with the peso depreciating against the dollar.
2017: US Presidential Election
The 2017 US presidential election led to a strengthening of the US Dollar, causing the peso to depreciate.
What Does the Future Hold?
As global economies continue to evolve, the USD/MXN exchange rate will likely be influenced by various factors, including:
- Trade agreements: The ongoing renegotiation of trade agreements, such as the United States-Mexico-Canada Agreement (USMCA), may impact the exchange rate.
- Economic indicators: Inflation rates, GDP growth, and employment rates in both the US and Mexico will influence the exchange rate.
- Geopolitical tensions: Global events, such as the COVID-19 pandemic, may lead to fluctuations in the exchange rate.
Understanding the historical exchange rates between 1 USD and MXN can help individuals and businesses make informed decisions about international transactions and investments.
