Mexican Peso Depreciates Further As Political Uncertainty Persists

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The Mexican Peso (MXN) continued to depreciate on Wednesday as investors worried about the constitutional reforms proposed by the leftist government of President-elect Dr. Claudia Sheinbaum.

Critics argue that these reforms, which concern issues such as the minimum wage, state sector pensions and the judiciary, could have a negative impact on the economy and in some cases be anti-democratic.

At the time of writing, one US dollar (USD) now buys 18.63 Mexican pesos (from around 17.00 before the election). Meanwhile, the EUR/MXN exchange rate is 20.04 and the GBP/MXN exchange rate is 23.77.