In Mexico, an index estimated the peso’s overvaluation against the dollar at 5.8%
In Mexico, the MND Peso Index, based on a price study conducted on September 2, 2026, estimated the Mexican peso’s overvaluation against the U.S. dollar at 5.8%. Mexico News Daily reports. This is the highest estimate the index has recorded to date.
Exchange rate and price comparison
The MND Peso Index is a monthly purchasing power parity indicator. It compares the prices of a standardized basket of 20 goods and services in Mexican cities and Dallas, Texas. The average calculated exchange rate for the basket’s components was 17.96 pesos per dollar, while the official Banxico FIX rate on September 2 stood at 16.98 pesos per dollar.
The difference between these figures was 98 centavos. According to the index’s assessment, this gap meant that the peso was overvalued by 5.8% at the beginning of September.
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Changes since August
At the beginning of August, the MND Peso Index estimated the Mexican currency’s overvaluation at 2.4%. Between August 6 and September 2, the official exchange rate changed from 17.22 to 16.98 pesos per dollar, meaning the peso strengthened by 1.4%. At the same time, the index’s calculated exchange rate increased from 17.64 to 17.96 pesos per dollar.
The calculations were affected by the prices of a Big Mac, a Big Mac combo meal, eggs, Kirkland toilet paper, Listerine mouthwash and a Planet Fitness membership. The index also accounted for the replacement of a Flexon garden hose, which was no longer sold on the Costco México website, with a set of glass containers. The calculated exchange rate for the containers was 21.64 pesos per dollar, while that for the hose in August was 24.26 pesos per dollar.
According to the Bank of Mexico, since the start of 2026, the peso has strengthened by 6.4% against the dollar: from 18.00 pesos per dollar at the end of 2025 to 16.91 pesos per dollar at the close of trading on September 8.
