The bank consensus for USD/MXN at year-end December 2026 sits at a median of 17.90, with a mean of 18.03 across 19 contributing desks. The two central measures being close suggests the distribution of forecasts is not heavily skewed by outliers.
Forecasts span from 17.00 at the most peso-bullish end to 19.20 at the most peso-bearish, a spread accompanied by a population standard deviation of 0.68. That relatively contained dispersion points to broad agreement among desks on the general direction, even as the 2.20-wide range leaves room for disagreement on magnitude. For the individual desk targets behind these figures, see the full USD/MXN bank consensus.
Because a higher USD/MXN reading means a stronger dollar and a weaker peso, a print toward 19.20 would reflect peso depreciation, while a move toward 17.00 would signal peso strength. The 17.90 median implies most desks expect the pair to settle nearer the lower-to-middle portion of the range.
Traders watching the peso should treat the 17.90 median as the anchor and the 17.00 to 19.20 band as the outer bounds of current bank expectations for the December 2026 horizon.
Frequently Asked Questions
What is the USD/MXN forecast for 2026?
The bank consensus median for December 2026 is 17.90, with a mean of 18.03 across 19 desks.
What is the range of USD/MXN forecasts?
Forecasts span from 17.00 at the most peso-bullish to 19.20 at the most peso-bearish, with a standard deviation of 0.68.
Does a higher USD/MXN mean a weaker peso?
Yes. A higher USD/MXN number means a stronger US dollar and a weaker peso; a lower number means the reverse.
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