KJZZ is a service of Rio Salado College, and Maricopa Community Colleges
Privacy Policy | FCC Public File | Contest Rules
Copyright © 2024 KJZZ/Rio Salado College/MCCCD
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Why Is The Mexican Peso Stronger Despite The Pandemic And The Economic Fall?

MEXICO CITY — The coronavirus pandemic is bringing with it a severe, historic downfall in the world’s economy. Mexico is no exception, but its currency, the peso, has become stronger.

During the pandemic, the peso has dropped from nearly 25 units per dollar to about 22. 

Juan Carlos Orozco, head financial analyst with Grupo Reforma, explainED that emerging currencies, not only the peso, tend to gain value as the U.S. economy contracts.

The expert said the pandemic hits employment and the gross domestic product everywhere, but the peso is still strong and valuable as an exchange currency.

Orozco said some domestic factors in the U.S could strengthen the dollar again, including the discovery of a coronavirus vaccine.

Rodrigo Cervantes is KJZZ’s bureau chief in Mexico City, where he was born and raised. He has served as opinion writer, contributor and commentator for several media outlets and organizations in Mexico and the United States, including CNN, Georgia Public Broadcasting and Univisión. Cervantes previously worked as the business editor and editorial coordinator for El Norte, the leading newspaper in Monterrey and a publication of Grupo Reforma, Mexico’s premier news group. In Mexico City, Cervantes served in Reforma as a reporter, special correspondent, editor and special sections coordinator. Cervantes also held the editor position at MundoHispánico, a division of The Atlanta Journal-Constitution and Georgia’s oldest and largest Latino newspaper. He also participated as one of the first members of the Diversity Advisory Group for Cox Media. In 2012, Cervantes was appointed as fellow for the Leadership Program of The New York Times/Nieman Foundation for Journalism at Harvard, as well as for the "Líderes Digitales" program from the International Center for Journalists. In 2010, he was awarded with the Poynter-McCormick Leadership Fellowship. Cervantes graduated with honors in communication sciences and journalism from the Instituto Tecnológico de Monterrey (ITESM), Mexico City Campus. Later, he was granted the Fundación Carolina Scholarship from the Spanish government to obtain an MBA degree at San Pablo-CEU School of Business (Madrid). Other awards include: the Power 30 Under 30 Award for Professional and Community Excellence in Atlanta, the Outstanding Alumni Medal from ITESM, and several José Martí Awards for Journalism Excellence from the National Association of Hispanic Publications (NAHP). Cervantes enjoys music, books, travel, friendship, good mezcal and the occasional company of his guitar.