2024-04-17 06:45:32
The Mexican coin broke another record by appreciating up to 16.33 units on average per dollar and touching a minimum level of 16.31 during yesterday’s session, data not seen since August of 2015.
As if it were a sign of eclipse, The peso overshadowed the dollar since last weekend, reaching figures not seen in recent years.
Paulina Anciola, deputy director of economic studies at Citibanamex, He highlighted that the superweight has exceeded expectations after averaging in the 16.33 units per dollar.
The economist ruled out that the appreciation of our currency is associated with the results of the first electoral debate; on the contrary, she pointed out that the campaigns pass calmly, which has favored stability in the financial markets.
Anciola recorded that the gain of the Mexican peso is due to the comments of the members of the Federal Markets Committee of the FED (FOMC), which sends the message that rates will become more dependent on core inflation over the coming months.
“We believe that a rate cut could happen in June, which has had to weaken marginally the dollar.”
The economic analyst explained that for the moment attention is focused on the US inflation index that will be released next Wednesday. “On the other hand, Banxico’s position also acquired a bias in the minutes of the most recent decision that was published on Thursday, implying that much more gradual cuts would materialize, so we now anticipate a pause in the May meeting. , and a higher reference rate at the close of 2024 to locate in 9.25%”.
About, Janneth Quiroz, head of economic analysis monex, reiterated that interest rates may remain high until June or July in USA, and in Mexico the Bank of Mexico highlighted in its minutes that it will continue to act with great caution.
Said Banxico showed that it can maintain high rates for a longer period, “this supports the idea that high rates continue.”
The currency closed the session with an appreciation of 0.78% o 12.8 cents, quoting in 16.3247 pesos per dollar, with the exchange rate touching a maximum of 16.49.
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2024-04-17 06:45:32