MXN/USD in 2015
MXN/USD opened 2015 at $14.81 and closed at $17.2, a +16.14% move for the year. The high of $17.36 was reached on December 14, and the low of $14.56 on January 26.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $14.81 | $15.01 | $15.01 | $14.56 | +1.34% |
| Feb | $14.88 | $14.94 | $15.1 | $14.75 | +0.39% |
| Mar | $14.99 | $15.25 | $15.58 | $14.93 | +1.70% |
| Apr | $15.11 | $15.39 | $15.43 | $14.8 | +1.80% |
| May | $15.57 | $15.37 | $15.57 | $15 | -1.26% |
| Jun | $15.47 | $15.69 | $15.69 | $15.27 | +1.43% |
| Jul | $15.78 | $16.06 | $16.48 | $15.67 | +1.79% |
| Aug | $16.1 | $16.73 | $17.09 | $16.1 | +3.91% |
| Sep | $16.88 | $16.9 | $17.1 | $16.56 | +0.12% |
| Oct | $16.89 | $16.53 | $16.89 | $16.38 | -2.14% |
| Nov | $16.47 | $16.6 | $16.85 | $16.37 | +0.79% |
| Dec | $16.53 | $17.2 | $17.36 | $16.53 | +4.02% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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