Mexican Peso Depreciates Further As Political Uncertainty Persists

143

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.