Exchange Rate Calculator

The exchange rate between the Mexican Peso (MXN) and the South Korean Won (KRW) has experienced notable fluctuations over the past few months. This report provides an analysis of the recent trends, historical context, and potential factors influencing the MXN/KRW exchange rate.

Recent Exchange Rate Trends

As of May 3, 2025, the MXN/KRW exchange rate stands at approximately 72.81 KRW per 1 MXN. Over the past 30 days, the exchange rate has seen a high of 72.8383 and a low of 69.7922, with an average of 71.3089. This indicates a 2.28% increase over the month.

In the first quarter of 2025, the exchange rate exhibited the following patterns:

• January 2025: The MXN/KRW rate peaked at 71.981 KRW on January 6 and reached a low of 69.163 KRW on January 27, averaging 70.672 KRW for the month.

• February 2025: The rate fluctuated between 69.814 KRW and 71.662 KRW, with an average of 70.655 KRW.

• March 2025: The exchange rate ranged from 70.453 KRW to 71.361 KRW, averaging 70.837 KRW.

Historical Context

Examining the exchange rate over the past few years provides insight into its volatility:

• 2023: The MXN/KRW exchange rate experienced significant fluctuations, reaching a high of 77.38 KRW on October 2 and a low of 65.59 KRW on January 31.

• 2022: The rate varied between 71.58 KRW on October 31 and 58.73 KRW on March 1, indicating substantial volatility throughout the year.

• 2021: The exchange rate was relatively stable, with a high of 59.65 KRW on September 20 and a low of 56.91 KRW on July 1.

Factors Influencing the Exchange Rate

Several factors contribute to the fluctuations in the MXN/KRW exchange rate:

1. Economic Performance: The economic health of Mexico and South Korea significantly impacts their respective currencies. Strong economic indicators, such as GDP growth and employment rates, can bolster a currency's value.

2. Trade Relations: The trade balance between Mexico and South Korea influences currency demand. A trade surplus in Mexico, for instance, increases demand for the Peso, potentially strengthening it against the Won.

3. Monetary Policies: Decisions by the Bank of Mexico and the Bank of Korea regarding interest rates and monetary policies affect investor confidence and currency valuation.

4. Global Market Sentiment: External factors, including geopolitical events and global economic trends, can lead to shifts in investor behavior, impacting exchange rates.

Future Outlook

Forecasting exchange rates involves considerable uncertainty due to the multitude of influencing factors. However, some projections suggest a potential appreciation of the Mexican Peso against the South Korean Won. For instance, one analysis predicts the MXN/KRW rate could reach 77.012 within a year and 99.670 over five years.

It's essential to approach such forecasts with caution, as exchange rates are subject to rapid changes influenced by unforeseen economic and political events.

Conclusion

The MXN/KRW exchange rate has demonstrated notable volatility over recent months and years, influenced by various economic, trade, and policy factors. While some forecasts predict an appreciation of the Mexican Peso against the South Korean Won, it's crucial for investors and businesses to stay informed about ongoing developments and consider multiple factors when making financial decisions related to these currencies.