Belizeans who go to Chetumal regularly for weekend shopping have no doubt recognized that right now your dollar is buying you fewer pesos than at any time in memory.
As of this past weekend the exchange rate is at 7.50 pesos to one Belize dollar, when a year ago it was probably at about 9 pesos to 1 Belize. And what's behind this? Well it's the rise of what is called the Super Peso.
According to International news reports, the Mexico peso is stronger than it's ever been. This stems from high central bank interest rates in addition to the relocation of manufacturing capacity from Asia to Mexico. The peso has risen by over 14% against the US dollar this year - and the Belize dollar is pegged to the US dollar, so the relative strength of our currency has also weakened.
International news reports say that in 2022 the currency was trading at around 20.40 pesos per US dollar. The trade currently stands at 16.63 pesos per dollar. At the Belize border, you'll get it for about 16 pesos to 1 US dollar.
