US Dollar at Weakest Level Against Peso in Eight Years As Biden Touts Economic Success
Mexico’s peso is currently trading at its strongest point against the U.S. dollar in nearly eight years as President Joe Biden touts his economic record and campaigns on his signature “Bidenomics” policy platform. One…
Mexico’s peso is currently trading at its strongest point against the U.S. dollar in nearly eight years as President Joe Biden touts his economic record and campaigns on his signature “Bidenomics” policy platform.
One U.S. dollar can currently be exchanged for approximately 17 pesos, according to a Yahoo Finance chart tracking the exchange rate; the last time that the peso was at this level of strength against the U.S. dollar was in late 2015. Because of the dollar’s decline, U.S. citizens who travel to Mexico are incurring higher costs and getting less for their money, according to Border Report.
“I exchange money regularly. I get pesos to go shopping, to go out to restaurants and to wash my car in Tijuana,” a San Diego resident who frequently exchanges currency and travels to Mexico told Border Report. “We’re going to pay 5,000 pesos more when compared to last year,” the resident told Border Report.
That’s $306 more a year the resident will pay due to the weakening value of the U.S. dollar, according to Border Report.