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Mexican peso’s value dropped slightly after presidential election

JUAREZ, Chihuahua (KVIA) -- The Mexican peso's value tumbled after last Sunday's Presidential Election in which Claudia Sheinbaum was elected to be Mexico's next president.

Borderland economic experts say this happened because investors worry that the Mexican government could suffer constitutional changes and weaken the country's democracy.

On Monday, the peso's value dropped around 4-5% to around 17.72 pesos per U.S. dollar, its weakest level since November according to the Wall Street Journal.

ABC-7 saw several currency exchange shops in Juarez displaying conversion rates on signs outside. If you are looking to trade in dollars, the current value is around 16.50 Mexican pesos per dollar in Juarez.

UTEP Professor of Economics Tom Fullerton told ABC-7 the current values are where they should be. The Mexican Peso's value stabilized in 2023 after nearly seven years of being weaker than the U.S. Dollar.

Previous governmental administrations were a factor in this change, during former President Trump the value of the peso weakened significantly compared to the values we are seeing right now.

Dr. Fullerton also said it will depend on who wins this year's U.S. Presidential Election to determine where these values will go now.

Current values are almost exactly where they were nearly a year ago.

ABC-7 will speak with regular border crossers to learn what they think about the recent changes in currency exchange values.

Article Topic Follows: On the Border

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Heriberto Perez

Heriberto Perez Lara reports for ABC-7 on both sides of the U.S.-Mexico border.


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