2024-07-31 20:43:40
The Mexican peso faced a depreciation of more than 1.24% o 22.5 cents, trading around the 18.37 units per dollar, with the exchange rate touching a minimum of 18.14 and a maximum of 18.47 pesos per dollarafter the aversion generated by the pause in the arrival of Tesla to Mexico.
With the above, the weight was placed as the second currency most depreciated in the broad basket of main crosses, only behind the Brazilian real which lost 1.25% and followed by the Hungarian Florin con 0.89%.
The depreciation was mainly due to nervousness over comments from Donald Trump regarding imposing tariffs on Mexican cars which led to Elon Musk to pause the arrival of Tesla to Mexico.
He also commented that the possibility of using the US military to attack the cartels in Mexico with bombs, which added to risk aversion in the markets.
“This sends a signal that, in the event of Trump winning the presidency, there will be a tense relationship with Mexico and there is a risk that pressure will be put on the government through tariffs or sanctions,” projected an analysis of Base Bank.
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2024-07-31 20:43:40