Mexican peso holds near 17.5 per dollar as markets watch T‑MEC review

The Mexican peso remained stable around 17.5 pesos per U.S. dollar during the last days of June 2026. On June 29 the interbank rate was about 17.48 pesos, while on June 30 it hovered between 17.45 and 17.47, reflecting only marginal changes. Major Mexican banks listed similar buy‑sell spreads, for example BBVA México at 16.61/17.74 and Banamex at 16.93/17.91.

Analysts linked the calmness to a mix of factors: the Federal Reserve’s restrictive stance kept the dollar strong, ongoing geopolitical tensions in the Middle East limited risk‑off moves, and investors awaited the formal start of the T‑MEC (Mexico‑U.S.-Canada) review slated for early July. The peso’s resilience was described as a “psychological barrier” at the 18‑peso level, which remained unbroken.

Overall, the market’s tone was cautious but steady, with expectations that upcoming U.S. employment data and inflation figures, together with the progress of the T‑MEC negotiations, will shape the peso’s short‑term trajectory.