Currency pair · cross of two ECB reference rates

What is the USD/MXN reference rate and how has it moved?

The USD/MXN reference rate was 18.3836 on 16 Oct 2026: one USD was worth 18.3836 MXN. That is 0.3% below a year earlier and 85% of the way up its 52-week range. Annualised volatility over the year was 7.9%.

USD/MXN · 16 Oct 2026: 18.3836Previous fixing 18.5221 (15 Oct 2026) · ▼ −0.75%
12-month change: ▼ −0.3%from 18.4351 on 16 Oct 2025
52-week range: 16.8980–18.6498low 21 Aug 2026 · high 5 Nov 2025
Volatility, 1 yr: 7.9%annualised; full-year average since 2016: 12.6%

The past twelve months

Daily ECB reference fixings, 16 Oct 2025 – 16 Oct 2026 (255 fixings). Yellow dot: latest.

What the record shows

Over the past year USD/MXN has been calmer than usual: 7.9% annualised volatility against a 12.6% average for full calendar years since 2016. Its calmest full year was 2019 (8.4%) and its busiest 2020 (20.1%).
Since 4 Jan 2016 the rate has ranged from 16.3125 (9 Apr 2024) to 25.1039 (6 Apr 2020). Today's fixing is higher than 29% of the 2,763 daily fixings in that period.
Five years ago, on 15 Oct 2021, the fixing was 20.5604, so the rate is 10.6% below that level. Over one month it is ▲ +7.27% (from 17.1382 on 16 Sept 2026).
The largest single-day move of the past year was on 8 Apr 2026: 17.7526 → 17.4010 (▼ −1.98%).
Read the other way round, 1 MXN was worth 0.05440 USD on 16 Oct 2026 (MXN/USD).

How is the USD/MXN figure on this page produced?

The ECB does not publish USD/MXN; it publishes each currency against the euro. The cross is the ratio of the two: MXN per euro ÷ USD per euro = 20.6871 ÷ 1.12530 = 18.3836 on 16 Oct 2026. Because both legs are fixed at the same moment, the cross is internally consistent, but it can differ slightly from a market quote at 14:10 CET. See how to calculate a cross rate.

Year by year

USD/MXN yearly close, change, high, low, average and volatility
Year	Close	Change	High	Low	Average	Vol.
2026 to date	18.3836	▲ +2.3%	18.5221 15 Oct	16.8980 21 Aug	17.4469	7.5%
2025	17.9728	▼ −13.4%	20.9685 9 Apr	17.9024 24 Dec	19.2128	9.7%
2024	20.7435	▲ +22.4%	20.7450 27 Nov	16.3125 9 Apr	18.3254	14.4%
2023	16.9440	▼ −13.3%	19.5000 2 Jan	16.7004 31 Jul	17.7460	11.2%
2022	19.5537	▼ −4.3%	21.3795 8 Mar	19.1081 29 Nov	20.1136	10.2%
2021	20.4342	▲ +2.7%	21.8783 29 Nov	19.6068 19 Jan	20.2862	11.4%
2020	19.8973	▲ +5.3%	25.1039 6 Apr	18.5734 17 Feb	21.4849	20.1%
2019	18.8893	▼ −3.8%	20.1080 2 Sept	18.7581 12 Apr	19.2575	8.4%
2018	19.6438	▼ −0.4%	20.7746 15 Jun	17.9716 17 Apr	19.2407	12.9%
2017	19.7292	▼ −4.5%	21.9808 20 Jan	17.4933 19 Jul	18.9112	11.5%
2016	20.6545	—	20.8800 14 Nov	17.1257 2 May	18.6852	16.6%

Change = last fixing of the year against the last fixing of the previous year (2016 has no prior close in this record). Vol. = annualised standard deviation of daily log changes within the year. 2026 runs to 16 Oct 2026.

Since January 2016

ECB reference fixings, thinned to about every fifth fixing for drawing; the tables use every fixing.

Largest one-day moves since 2016

Date	From	To	Move
9 Nov 2016	18.5622	19.8260	▲ +6.81%
16 Mar 2020	21.4189	22.8088	▲ +6.49%
18 Mar 2020	22.8092	23.9632	▲ +5.06%
9 Mar 2020	20.2856	21.2350	▲ +4.68%
12 Mar 2020	21.0855	22.0665	▲ +4.65%

Moves are measured between consecutive ECB fixings, so a move after a holiday can span more than one calendar day.

Sources

European Central Bank — euro foreign exchange reference rates (series EXR.D.USD+MXN.EUR.SP00.A, retrieved 16 Oct 2026 via the ECB Data Portal).
Method for crosses, ranges and volatility: methodology.