The Mexican peso has appreciated over 9% against the U.S. dollar since the stock market's mid-February turnaround. Jeremy Cook, chief economist at World First, said the stabilization of commodity prices will continue to bolster the Mexican currency. 'There is a tight correlation between the Mexican peso and oil and it looks like the bottom has been established for oil prices,' said Cook. 'Furthermore, wages are rising in the U.S. and consumers are coming back. This should increase trade between the U.S. and Mexico which is good for the peso.' Cook is also positive on the Indian rupee, saying the country is the fastest growing of the BRICs and this should help its currency, especially as it takes share from China.