Analysts surveyed by Citi raised their forecast for the Mexican peso. They now expect the dollar to close 2026 at 18.20 pesos, up from 18 pesos in the previous survey. The revised figure appeared in the latest Citi Survey of Expectations, published on Tuesday 20 October.
Revision follows September slide
The peso lost 6 percent during September. The survey links the upward revision to that move, which reduced the appeal of peso-denominated investments. Forecasters appear to have marked their expectations toward a weaker currency. The change is modest, a rise of 0.20 pesos.
The end-2026 consensus is not the only figure that moved. Analysts also raised their 2027 projection, although the increase was smaller in relative terms. The 2027 consensus now stands at 18.60 pesos per dollar, against 18.50 pesos in the earlier survey.
Wide range for 2027
Individual 2027 forecasts varied widely. The most optimistic respondent projected 17 pesos per dollar. The most pessimistic projected 19.80 pesos.
Related: Mexican peso firms to 18.42 per dollar on Monday · Peso slips 0.46% to 18.49 per dollar after Warsh remarks
Source: Citi
