Investors warm to Mexico, lifting peso, despite battered economy Abraham Gonzalez , By Abraham Gonzalez MEXICO CITY (Reuters) - Mexico in 2020 plunged into its steepest recession in decades and suffered a credit ratings downgrade, yet the peso currency and instruments that measure sovereign risk now tell a different story: that investors are again warming to the country. The peso, one of the main indicators of risk appetite, earlier this month hit a nine-month high of 19.68 per dollar. That compares with a record low of nearly 26 pesos per dollar in April as the coronavirus pandemic walloped the global economy and the cross-border value chains on which Mexico relies.