This Wednesday, the Mexican peso positioned itself at its best level in the last seven years, with an appreciation of 0.49%, which represents 8.36 cents compared to the last closing.

In banks, the exchange rate for the selling dollar rate is 17.12 pesos, while in exchange houses it is currently at 16.99 pesos per unit, while its buying rate is at 16.95 pesos.

Just this morning, the selling rate was over 17 pesos.

In several exchange houses in Tijuana, the Mexican peso has crossed the 17-peso threshold, being sold at 16.99 or even 16.90 pesos per dollar.

The Mexican currency is going through its best moment in the last 8 years, when the peso was valued at 17.15 units per dollar, during the administration of former president Enrique Peña Nieto.

This is due to the fact that the Federal Reserve (FED) did not increase the interest rate for the first time in 15 months. This is why banks won’t have to pay more due to the FED interest rate, which means that there won’t be capital outflow to cover it.