Mexico Economic Information
Central Bank: Bank of Mexico
Currency: Mexican peso (MXN or Mex$)
The 14th largest economy, Mexico has a free-market and export-oriented economy. For the last several years, Mexico experienced modest growth of about 3% per year. With the signing of the North American Free-Trade Agreement (NAFTA) in 1992, Mexico started shifting the economy from relying heavily on oil exports to exporting Mexican-built products to the U.S. Nearly 80% of Mexican exports go the U.S. NAFTA led to a tight alignment of the American and Mexican economies, which has helped reduce the range of currency fluctuations between the Mexican peso and U.S. dollar.
Key industries:
Food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables and tourism.
Agricultural products:
Corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes, beef, poultry, dairy products and wood products.
Export commodities:
Manufactured goods, oil and oil products, silver, fruits, vegetables, coffee and cotton.
Import commodities:
Metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft and aircraft parts.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 11/16/2008. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Mexican peso:
Reasons to consider
- The stability of the Mexican economy helps make the Mexican peso among the top 15 most traded currencies in the world and the most traded in Latin America.
- Mexico is the sixth-largest oil producer in the world. Nearly 40% of federal revenues come from the export of oil.
- In order to increase economic growth, Mexico plans to spend $39 billion annually for the next several years on job creation and infrastructure improvements.
Risk factors to consider
- Given the alignment of the Mexican and American economies, fears of a U.S. recession could have an impact on the Mexican economy.
How EverBank can help with your Mexican peso needs?
WorldCurrencySM CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
DollarBull® CDs: Open a single currency CD in reverse—you benefit if the U.S. dollar appreciates against a chosen currency.
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrencySM account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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