“Throughout 2023, the Mexican peso has established itself as the world’s most appreciated currency, marking a significant departure from decades of persistent devaluation experienced during previous presidential administrations,” President López Obrador remarked.
On social media, López Obrador shared data from the World of Statistics, illustrating Mexico’s prominent position atop the rankings with an outstanding appreciation of 12.8 percent relative to the US dollar. This placed Mexico ahead of other nations, with Brazil securing the second spot with an 8.2 percent appreciation, followed by the United Kingdom at 5.2 percent, the European Union at 3.1 percent, Canada at 2.2 percent, and Indonesia at 1 percent.
Conversely, countries such as India, South Korea, China, Japan, South Africa, Russia, Pakistan, and Turkey experienced negative percentages in relation to the US dollar, further highlighting the exceptional ascent of the Mexican peso.
Anticipating the New Year festivities, López Obrador expressed satisfaction in witnessing a surge in public enthusiasm, stating, “People are exuberant, engaging in shopping sprees across streets and squares,” underscoring the augmented purchasing power experienced by Mexican households. Additionally, he reassured that the nation is not facing any consumer crisis, emphasizing the positive economic momentum propelling Mexico’s financial stability.
The surge in the Mexican peso’s value stands as a testament to the nation’s economic resilience and prudent financial policies implemented under the current administration. This accomplishment not only signifies a monumental shift in Mexico’s economic trajectory but also instills confidence in its financial prowess on the global stage.
As Mexico bids farewell to a year marked by unprecedented currency strength, the nation stands poised to continue its trajectory of economic stability and resilience on the international financial landscape.