The Mexican peso gained against the US dollar on Thursday, 15 October, after a week in which it had been pressured by the possibility that the Federal Reserve raises its interest rate at its end-of-month meeting. The exchange rate stood at 18.39 pesos per dollar, 9 centavos lower than the Wednesday, 14 October close. The peso gained 0.56 percent, according to Bloomberg data.
Inflation stirs rate-hike bets
Inflation data for September showed elevated figures, raising expectations that the Fed would hike rates at its end-of-month meeting. That scenario had seemed unlikely after Fed policymakers said in recent weeks that they had room to wait before acting.
The US federal funds rate stood at 3.88 percent, in force since 13 October 2026, by MacroHerald’s own measurement as of 15 October 2026, 17:12 GMT. The peso’s move came against that backdrop of shifting rate expectations.
Eyes on Bangkok summit
Markets were watching for statements from Kevin Warsh, Fed chair, and Kristalina Georgieva, International Monetary Fund managing director, at the IMF summit in Bangkok.
The peso’s gain on Thursday came after a week of pressure tied to the hike speculation. The 9-centavo move left the currency at 18.39 per dollar, down from Wednesday’s close.
Related: Australian dollar slides after weak jobs data cuts RBA hike bets · Mexican peso falls 0.63% to 18.37 per dollar
Source: Federal Reserve | Data: FRED — St. Louis Fed
