The Mexican currency surpassed the 20 pesos barrier, touching its maximum peaks los 20.14 pesos per dollar.
During the day, the superpeso reached 19.93 pesos per dollar, with an appreciation of 0.03% or 0.6 cents, touching a minimum of 19.88.
Upward pressures on the exchange rate remain result of the political situation in Mexico, which has generated aversion to risk and concerns about the negative impact on the economy.
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A Citibanamex projection estimated that the currency extends its losses due to growing uncertainty about judicial reform, “The peso reached highs not seen since October 2022 and since 19.86 last week (+0.8%).
“Given recent developments, we have adjusted upwards our projections for the exchange rate at the end of 2024 and 2025 to 19.70 and 20.40 pesos per dollar, respectively”.
The bank’s survey of economic expectations predicted that the superpeso would reach 19.50 pesos per dollar, up from 19 pesos in the previous survey.
“For the end of 2025, the consensus estimate was 19.85 pesos per dollar, higher than the 19.50 pesos per dollar in the previous survey”.
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2024-09-07 00:41:23