Mexico Real Effective Exchange Rate in 2015
Mexico Real Effective Exchange Rate opened 2015 at 125.22 and closed at 112.40, a -10.24% move for the year. The high of 125.22 was reached on January 1, and the low of 111.05 on September 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 125.22 | 125.22 | 125.22 | 125.22 | +0.00% |
| Feb | 123.62 | 123.62 | 123.62 | 123.62 | +0.00% |
| Mar | 122.11 | 122.11 | 122.11 | 122.11 | +0.00% |
| Apr | 120.98 | 120.98 | 120.98 | 120.98 | +0.00% |
| May | 119.18 | 119.18 | 119.18 | 119.18 | +0.00% |
| Jun | 118.01 | 118.01 | 118.01 | 118.01 | +0.00% |
| Jul | 115.34 | 115.34 | 115.34 | 115.34 | +0.00% |
| Aug | 112.20 | 112.20 | 112.20 | 112.20 | +0.00% |
| Sep | 111.05 | 111.05 | 111.05 | 111.05 | +0.00% |
| Oct | 112.97 | 112.97 | 112.97 | 112.97 | +0.00% |
| Nov | 114.20 | 114.20 | 114.20 | 114.20 | +0.00% |
| Dec | 112.40 | 112.40 | 112.40 | 112.40 | +0.00% |
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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