Mexico's peso on Friday hit its highest level against the dollar since early December 2015, as the greenback lost steam after a slowdown in U.S. inflation bolstered the case for the Federal Reserve to end its interest rate hikes.

MEXICO CITY, July 28 (Reuters) - Mexico’s peso on Friday hit its highest level against the dollar since early December 2015, as the greenback lost steam after a slowdown in U.S. inflation bolstered the case for the Federal Reserve to end its interest rate hikes.

The currency, which has been dubbed the “super peso” in some quarters, including by its most prominent cheerleader, President Andres Manuel Lopez Obrador, strengthened by more than 1.3% in morning trading to 16.63 per dollar.

“What’s happening with the peso right now is due to weakness in the dollar, but also because of optimism surrounding the Mexican peso,” said Banco Base analyst Gabriela Siller.

“And with this international investors keep buying Mexican pesos and it may keep appreciating,” she added.

        • Cl1nk@sh.itjust.worksEnglish
          5·
          1 year ago

          Lots of young people about to joi the workforce, a healthy age Pyramid unlike most developed countries

          • maynarkh@feddit.nlEnglish
            2·
            1 year ago

            If their age distribution is looking pyramid-like, and their expected lifespan is not super low, doesn’t that just make them have a population boom that’s not sustainable long-term?

            I mean a sustainable age distribution would look somewhat like a straight rectangle, should it not? Or at most something like a repeating hourglass with “waves” of bigger and smaller generations.

            I know fuck all about demographics though.

    • FarceMultiplier@lemmy.caEnglish
      2·
      1 year ago

      A strong peso makes gentrification less likely as rich Americans and Canadians become less likely to retire in Mexico.

    • Num10ck@lemmy.worldEnglish
      1·
      1 year ago

      i believe mexico still won’t let someone buy land, only long term lease it. without this, its better to invest outside real estate there…