BELOW SUPERNAV drop zone ⇩

Peso at its strongest point versus U.S. dollar in almost 8 years

MAIN AREA TOP drop zone ⇩

SAN DIEGO (Border Report) — Currency exchange houses along San Ysidro Boulevard are offering less than 17 pesos for every U.S. dollar for the first time since December 2015.

According to Bloomberg, the U.S. dollar has lost about 10 percent of its value versus the Mexican Peso since the beginning of this year.

People like Silvia Solorio have noticed.

Silvia Solorio says she exchanges dollars for pesos on a regular basis before she goes shopping and dining in Tijuana. (Salvador Rivera/Border Report

“I exchange money regularly,” said Solorio. “I get pesos to go shopping, to go out to restaurants and to wash my car in Tijuana.”

The San Diego resident said she has seen a steady drop in the number of pesos she gets whenever she exchanges currency, making things more expensive south of the border.

“Even the street tacos cost more now,” she said.

Solorio stated her yearly vacation with her husband to Mexico is going to cost them more this summer.

“We’re going to pay 5,000 pesos more when compared to last year.”

If you do the math, that’s $306 more.

According to the New York Times, Chinese companies along with American corporations have been investing more resources and money in Mexico contributing to the strength of the Mexican economy and the Mexican peso.

The rise in U.S. interest rates is also said to be a factor in the peso’s gains against the dollar.

But analysts with Bloomberg and others expect the dollar to regain its strength against the peso by the end of the year.

“The strengthening of the peso has already exhausted its strength, and unless a very important unforeseen event does happen in favor of the Mexican currency, we will have a strengthening of the dollar in the coming weeks and months,” said Swiss Bank Analyst Rodrigo Aguila.

Border Report

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Partly Cloudy

la

61°F Partly Cloudy Feels like 61°
Wind
5 mph SW
Humidity
55%
Sunrise
Sunset

Tonight

Partly cloudy early followed by cloudy skies overnight. Low 49F. Winds light and variable.
49°F Partly cloudy early followed by cloudy skies overnight. Low 49F. Winds light and variable.
Wind
4 mph N
Precip
1%
Sunset
Moon Phase
Waning Crescent