Introduction
The Mexican peso continues to strengthen against the US dollar, with the USD/MXN exchange rate hitting its lowest level since mid‑2024. This shift follows a pivotal Supreme Court ruling on Trump-era tariffs, reshaping market sentiment and impacting remittances, trade, and financial planning across Mexico and the US.
What’s Happening Now
As of February 23, 2026, the USD/MXN exchange rate dropped to approximately 17.13 pesos per dollar, marking its strongest position since June 2024. This decline reflects renewed confidence in the peso following the Supreme Court’s decision to eliminate tariffs imposed during the Trump administration .
Currency converters show a mid-market rate ranging between 17.22 and 17.26 MXN per USD, depending on the source . This places the peso firmly in a stronger position compared to recent months.
Why It Matters Now
This development matters because a stronger peso reduces costs for Mexican consumers and businesses importing goods or sending remittances. It also signals improved investor sentiment toward Mexico’s economy, potentially influencing monetary policy and cross-border financial flows.
The Supreme Court ruling removed a major source of uncertainty, prompting a swift market response. The peso’s appreciation underscores how legal and political decisions can directly influence currency markets.
Exchange Rate Snapshot
- Lowest level since June 2024: USD/MXN at ~17.13
- Mid-market rates today:
- ~17.26 MXN per USD
- ~17.22 MXN per USD
- Recent low point: 17.132 MXN on February 17, 2026
These figures show a consistent trend of peso strength, with minor variations depending on data source.
Market Reaction and Technical Signals
Technical analysis suggests the peso’s momentum may continue. According to Traders Union, the USD/MXN pair trades just above its 20-day moving average (~17.21), while remaining well below the 50-day (~17.46) and 200-day (~18.16) averages. This indicates sustained selling pressure on the dollar in the medium to long term .
Momentum indicators like MACD remain bearish, while RSI and CCI are not yet oversold, suggesting room for further downside. The expected trading range for the next five days lies between 16.98 and 17.00, with a low probability of USD/MXN rising above current levels .
Broader Context
The peso’s recent strength builds on a trend that began earlier this year. In mid-January, the peso closed at 17.65 per dollar—its lowest since July 2024 . More recently, it dipped below 18 MXN, another sign of its improving position .
These shifts reflect a broader narrative: the peso is regaining ground lost during periods of trade tension and global uncertainty.
What’s Next
Markets will closely watch for key developments that could influence USD/MXN:
- Monetary policy signals: Decisions from Banxico or the US Federal Reserve could shift interest rate expectations and currency flows.
- Trade and legal updates: Further rulings or policy changes related to tariffs or trade agreements may sway investor sentiment.
- Technical levels: A break below 17.00 could reinforce the peso’s strength, while a reversal above 17.30 might signal a pause or correction.
Conclusion
The Mexican peso is showing renewed strength, with the USD/MXN exchange rate falling to its lowest level since June 2024. This movement follows a Supreme Court ruling that removed Trump-era tariffs, boosting confidence in the peso. Technical indicators suggest continued downward pressure on the dollar, with key levels to watch in the coming days.
