Mexican Peso (MXN) has been showcasing fluctuations in its value due to various economic factors including tariff threats, US elections, and anticipation of the US Dollar's recovery. Recently, there has been an increased focus on the Peso due to
'nearshoring', boosting its liquidity. It somehow managed to recover against the USD before the US elections. However, the amount of risk regarding the outcome of the US election made it volatile.
On the other hand,
Bitcoin has risen noticeably against the MXN, with a nearly 10% increase perceived as the 'Trump Trade' soars. However, Gold remains flat. Furthermore,
crypto exchanges and trading platforms are increasingly prevalent in Mexico, and the
crypto-to-peso transactions have been launched for Mexican users by Ramp Network via SPEI.
Despite slumps and hits, Mexican Peso continues to rally back, with intermittent strong closing positions against the US dollar. Meanwhile, Tether has launched a stablecoin for the Mexican Peso, indicating potential growth in the crypto space for Mexico. This has been accompanied by the release of new coins and banknotes, like the elegant $20-peso coin replacing the notes. Mexican coins are viewed as high value, with some worth up to $528,000.
However, a persistent betting against the strong Peso by investors has been observed. Amidst such market dynamics, regulations for cryptocurrencies are projected to be implemented in Mexico by 2024. Several developments in the crypto industry have taken place, including Tether’s launch of a Mexican Peso-pegged stablecoin and Coinbase enabling Mexican users to easily cash out of crypto.
MXN Coin News Analytics from Thu, 20 Oct 1983 07:00:00 GMT to Mon, 27 Jan 2025 08:00:00 GMT -
Rating 3
- Innovation -1
- Information 7
- Rumor 2
