The Mexican peso rose in value against the US dollar every trading day between March 30 and April 9, appreciating more than 4% during this period. The peso closed at 17.36 to the greenback on Thursday after appreciating 0.4% during the trading day. This gain came after the peso appreciated 1.6% against the dollar on Wednesday, largely due to the two-week ceasefire agreement between the US and Iran. The deal has increased investor appetite for currencies considered higher risk. The annual headline rate was 4.59% in March, up from 4.02% in February, and month-over-month inflation was 0.86%.