Business · Markets · 2 hrs ago
Mexican peso weakens as markets focus on US midterm elections
The Mexican peso weakened against the US dollar on Tuesday as investors focused on the US midterm elections.
The exchange rate stood at 18.72 pesos per dollar, 16 centavos higher than on November 2.
The elections could shift control of the House of Representatives and Senate, with polls pointing to possible Democratic gains.
Investors are weighing what a change in Congress could mean for US tax and trade policy.
Energy specialists said a Democratic win could limit President Donald Trump’s energy agenda, but might not quickly change his administration’s decisions.
The peso is facing heightened uncertainty amid a busy schedule of economic and political events.
The Mexican peso weakened as markets focused on the United States midterm elections.
On November 3, the exchange rate was 18.72 pesos per dollar, up 16 centavos from November 2, according to Bloomberg as cited by El Financiero.
El Economista MX reported a 1.5% loss for the peso against the dollar in a cautious market.
Investors were weighing the possible effect of a shift in congressional power on US fiscal and trade policy.
Analysts said a Democratic victory could provide a check on Donald Trump’s energy policy but would not necessarily bring immediate changes to administration decisions.
- Who
- The Mexican peso and US dollar. Investors were focused on the US midterm elections.
- What
- The peso weakened against the dollar. El Financiero cited an exchange rate of 18.72 pesos per dollar, while El Economista MX reported a 1.5% loss.
- When
- November 3, 2026, according to El Financiero. El Economista MX published its report on November 4.
- Where
- Currency markets in Mexico and the United States.
- Why
- Markets were assessing the US midterm elections and the potential effects of a change in congressional power on US policy.
This story does not have two clearly opposing sides.
The exchange rate used for comparison was 16 centavos lower than the November 3 rate; banks in Mexico were closed, so peso trading took place only electronically.
The exchange rate stood at 18.72 pesos per dollar as markets focused on the US midterm elections.
- Exchange rate
- 18.72 pesos per dollar on November 3
- Daily change
- Up 16 centavos from November 2
- El Economista MX report
- 1.5% peso loss against the dollar
- Banamex selling price
- 19.20 pesos per dollar
- US 10-year bond yield
- 4.99%
- Mexico 10-year bond yield
- 9.36%
4 sources
What people are saying
the peso is subject to an environment of high institutional caution because of the dense agenda of economic and political catalysts