Those who bet against the peso missed out on a historic streak this year

During 2025, the dollar has shown structural weakness against most world currencies, particularly against the Mexican peso; On the other hand, the investment in the Mexican currency was one of the most profitable.

At the end of November, the depreciation of the dollar against the peso has been the second largest in history and could become the largest during December, predicted Ramsé Gutiérrez, co-director of investments at Franklin Templeton México. “Contrary to all intuition at the beginning of the year, it is consolidating itself as the best year overall for Mexican investments.”

in his studio It couldn’t be better… loaded with dollars!Gutiérrez warned that dollarizing amid the pessimism of the end of 2024 has turned out, so far, to be a losing strategy, and not only because of the exchange rate: the best returns in history in several Mexican asset classes have also been lost. Only stocks and Fibras (real estate investment trusts), with gains close to 50 percent in dollars, are having their sixth and second best year in history, respectively.

In the long-term debt market, bonds and udibonos are experiencing their second and best year due to the fall in interest rates, which increases their value in advance and in both cases could become the best for the entire calendar year.

“In other words, those who opted to get out of the peso missed a rally historic on multiple fronts. And everything indicates that December will consolidate the best year for Mexican stock market investments,” said Ramsé Gutiérrez.