The peso got stronger against the dollar. Here's what that flips for your money.

Originally reported as: “Peso firms to multi-month high as dollar softens on rate-cut bets”

The local currency strengthened against the US dollar, reaching its highest level in months. A stronger peso means each peso buys more dollars than before, which makes imported goods and overseas travel cheaper. The flip side is that families receiving money from relatives abroad get fewer pesos per dollar sent, and exporters may find their goods a bit less competitive. Currency moves like this are driven by shifting expectations about interest rates and the flow of money between countries.