On Monday, May 5, 2025, the Mexican peso experienced a drop of 10%, while the price of the US dollar rose to 19.61 pesos in interbank and international operations. The Mexican economy is expected to have zero growth of 0.0% by the end of 2025, which has impacted the exchange rate, reaching a maximum quotation of 19.63 pesos and a minimum of 19.54 pesos per dollar.
At bank counters and currency exchange houses in Mexico, the free dollar, available to the general public, reached a maximum level of 20.70 pesos and a minimum of 19.63 pesos per greenback. Some banks sell the dollar at higher prices than others. Bank of America tops the list with a price of 20.70 pesos, followed by Monex at 20.59 pesos, Bx+ at 20.23 pesos, and Afirme at 20.20 pesos. On the other hand, places where the dollar can be purchased at a lower price include Grupo Financiero Multiva at 19.63 pesos, BBVA at 19.90 pesos, Banorte at 19.95 pesos, and Banco Azteca at 20.05 pesos.
Gabriela Siller Pagaza, director of Economic Analysis at Grupo Financiero BASE, attributes the rising cost of the dollar to persistent risk aversion towards Mexico, stemming from economic weakness and uncertainty regarding US trade policy. The Mexican economy only grew by 0.2% during the first three months of 2025, and zero growth of 0.0% is projected for the end of that year.
Siller Pagaza also warns that the Mexican peso could further depreciate due to the risk of additional tensions between Mexico and the United States, particularly regarding divergences in strategies to combat organized crime. She mentions that the previous week, former President Donald Trump proposed to Mexico to use the US army in the fight against the cartels, a proposal rejected by the president of Mexico, Claudia Sheinbaum.
