Among the world's major currencies, the Mexican peso is the biggest loser against the dollar in the last six months. The south of the border currency has lost 32% of its value. Last fall, a dollar would buy 11.37 pesos. Now it will get you almost 15.

Analysts say the trend will continue as the U.S. recession deepens, resulting in decreasing exports for Mexico. Remittances and tourism will drop as well. This is great news for U.S. travelers and retirees. A falling peso means dollar holders can buy much more in the way of housing, food, and vacations.

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