Peso is losing ground against the dollar and returns to the 17 unit mark

2024-04-20 05:56:03

It is Tuesday April 16 was depreciated Mexican peso in front of dollarwhich reached its mark of 17 units, situation that had not been reported since the beginning of March 2024.

According to data from the Bank of Mexico (Banxico), the peso would have lost strength after it depreciated 1.92 percent, quoting in 17.0465 units for 1 dollar.

The fall of the Mexican currency responds to the strength of the US dollar global level, reporting foreign currency impacts Latin America, Asia and Europe.

Collapse of the Mexican peso: Dollar sells for more than 17 units

The Mexican peso suffered a collapse of 1.92 percent, to trade around 17.0465 units per dollar.

With this figure, the dollar increased its value by 32 cents, since only on Monday, April 15, it was quoted in 16,7246 unitsaccording to central bank data.

The increase is reflected in the currency exchange in Mexico, where banks sell the dollar from 17.50 in Afirme, and even 17.80 a Scotiabank.

The rise of the dollar is already beginning to affect the exports e imports in global trade, affecting the purchasing power of consumers.

AMLO (DARKQUARTERS)

Why did the Mexican peso depreciate?

Banco Base indicated that the market continues to speculate that the Federal Reserve will maintain a restrictive monetary stance for longer and will begin to cut the rate until the fourth quarter of the year.

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Furthermore, that the escalation in tensions in the Middle East conflict with the recent attacks by Iran and Israel, increase the risk aversion and volatility in the markets global financial during the next sessions.

Our country has not been the only one whose currency has been affected, these are the countries that were harmed by the rise of the dollar:

• Indonesian Rupiah: 2.04 percent.
• Mexican peso: 2 percent.
• Brazilian real: 1.58 percent.
• Colombian peso: 1.15 percent.
• Polish Zloty: 0.97 percent.
• Chilean peso: 0.96 percent.

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2024-04-20 05:56:03