The peso dropped nearly 2 percent after Trump's choice for commerce secretary said renegotiating a trade deal with Mexico and Canada would likely be the incoming administration's first priority.
Mexico's peso strengthened against the dollar on Tuesday after President-elect Donald Trump said the greenback's strength against the Chinese yuan "is killing us."
The peso weakened 1.2 percent on Monday, the worst-performing currency in Latin America.
Mexico's finance minister made these comments after the peso hit a series of record lows over fears that Trump's policies could hurt foreign investment south of the border.
The peso closed at 21.8 per dollar, up 0.27 percent on Wednesday's reference price.
The currency pared losses slightly after passing the psychological 22 peso barrier to trade at 21.90 per dollar, dipping 0.45 percent
"It's foreseeable, I'd say almost inevitable that it keeps on depreciating," OECD Secretary General José Ángel Gurria said in Mexico City
The peso posted a record low at 21.624 per dollar on Wednesday after minutes from the U.S. Fed's Dec. 13-14 meeting hinted that faster rate hikes could be needed under Trump.
The peso is the world's worst-performing currency this year, and hit record lows after the election of Trump
Mexico's peso slid on Friday to a record low of over 21 pesos per U.S. dollar