Peso Rally May Be Stopped by Mexico's Slumping Remittances: BofA

Remittances to Mexico have declined 5% this year and are expected to drop 5.8% by the end of 2025, according to BBVA Mexico. This slowdown could weigh on the peso, which has gained nearly 12% this year. Bank of America expects the Mexican currency to hit 19.50 per greenback at year-end, a 4.5% slump from current levels.