Mexico’s peso is currently trading at its strongest point against the U.S. dollar in nearly eight years as President Joe Biden touts his economic record and campaigns on his signature “Bidenomics” policy platform.
One U.S. dollar can currently be exchanged for approximately 17 pesos, according to a Yahoo Finance chart tracking the exchange rate; the last time that the peso was at this level of strength against the U.S. dollar was in late 2015. Because of the dollar’s decline, U.S. citizens who travel to Mexico are incurring higher costs and getting less for their money, according to Border Report.
Despite the weakening of the U.S. dollar, President Joe Biden has made his economic record and agenda central to his message to voters, making several public appearances to speak about his approach to the economy.