Exchange Rate Calculator

The exchange rate between the Mexican Peso (MXN) and the Indian Rupee (INR) has experienced notable fluctuations over the past few months. As of July 2, 2025, the rate stands at approximately 1 MXN to 4.5701 INR. This report delves into the recent trends, historical context, and factors influencing this currency pair.

Recent Trends

Over the past six months, the MXN/INR exchange rate has shown an upward trajectory. On December 31, 2024, the rate was 1 MXN to 4.1007 INR. By June 18, 2025, it peaked at 4.5555 INR, marking a 9.33% increase over this period. The average exchange rate during these six months was approximately 4.3127 INR. (exchange-rates.org)

In the most recent month, the exchange rate continued its upward trend. On June 2, 2025, the rate was 4.4406 INR, and by July 2, 2025, it reached 4.5701 INR. This represents a 2.92% increase within a month. (investing.com)

Historical Context

Looking back over the past few years, the MXN/INR exchange rate has exhibited significant variability:

• 2020: The rate fluctuated between 3.5409 INR and 3.8074 INR. (exchange-rates.org)

• 2021: The rate ranged from 3.4123 INR to 3.7902 INR, with an average of 3.6461 INR. (exchangerates.org.uk)

• 2022: The rate saw a gradual increase, reaching 4.17 INR by October 31, 2022. (freecurrencyrates.com)

• 2023: The rate continued its upward trend, peaking at 4.77 INR on October 1, 2023. (freecurrencyrates.com)

These historical trends indicate a general strengthening of the Mexican Peso against the Indian Rupee over the past few years.

Factors Influencing the Exchange Rate

Several factors have contributed to the fluctuations in the MXN/INR exchange rate:

1. Economic Performance: The economic growth rates of Mexico and India significantly impact their respective currencies. Stronger economic performance typically leads to a stronger currency.

2. Interest Rates: Differences in interest rates set by the central banks of Mexico and India influence investor behavior. Higher interest rates in Mexico compared to India can attract foreign capital, strengthening the Peso.

3. Trade Balances: The trade relationship between Mexico and India affects currency demand. A trade surplus in Mexico can increase demand for the Peso, appreciating its value against the Rupee.

4. Global Economic Conditions: External factors such as global commodity prices, geopolitical events, and economic policies in major economies can influence both currencies.

5. Inflation Rates: Disparities in inflation rates between the two countries can lead to adjustments in the exchange rate to maintain purchasing power parity.

Conclusion

The MXN/INR exchange rate has shown a consistent upward trend over the past few months and years, indicating a strengthening of the Mexican Peso against the Indian Rupee. This trend is influenced by a combination of economic performance, interest rate differentials, trade balances, global economic conditions, and inflation rates. Investors and businesses engaged in transactions involving these currencies should closely monitor these factors to make informed decisions.