Mexican peso gains against US dollar as dollar weakens

The Mexican peso continued to strengthen against the US dollar on 5 August 2026. In Cancun the exchange rate was quoted at 17.33 pesos per dollar, while market data showed the peso trading at 17.202 pesos per dollar, its highest level since mid‑May. The rally was attributed to a weaker US dollar, reflected in the DXY index falling to 99.52, and softer US labour data, with the ADP payroll report coming in below expectations.

Lower oil prices also supported risk appetite, with Brent falling to $78.86 a barrel and WTI to $74.97. The Mexican stock market rose, and analysts noted that the peso’s appreciation was aided by expectations of a possible US‑Iran agreement to reopen the Strait of Hormuz, easing oil‑price pressures.

Banco de México’s latest data confirmed the exchange‑rate movement, and local banks and currency‑exchange houses reported similar rates, advising customers to transact between 9:00 and 15:00 local time for the most competitive prices.