"Super Peso" effect - Article

COVID sure drove up the value of the dollar fast. Up to 25 peso per dollar, people hanging on real tight to George. I find myself yearning for an international incident, so my dollar goes up in value in my next trip south of the border. One that doesn't infect the lungs.

Don't hold your breath waiting for an oil-producing nation's currency to devalue. Mexico isn't Venezuela by any stretch of the imagination. Any international incident, especially in the Middle East, is only likely to drive up the cost of oil, something the RePUKElicans' puppetmaster Putin wants badly, which would also benefit Mexico.

Mexico has some issues. Has to import about 6 billion worth a year.

Another tid-bit, "in 2022, the United States imported over 637 million barrels of Mexico’s heavy crude and exported over 1.8 billion barrels of refined petroleum products to Mexico.
https://www.trade.gov/country-commercial-guides/mexico-oil-and-gas