The US Dollar exchange rate will remain above 16 pesos per dollar in the coming months due to the situation in Greece and the uncertainty about moves in the U.S. interest rates, BBVA Bancomer announced.
Carlos Serrano, chief economist of BBVA Bancomer, said that the exchange rate could drop to 15 pesos per dollar if the U.S. Federal Reserve raises interest rates, which could happen in early 2016.
“We expect volatility to continue until the Fed makes a decision,” Serrano explained.
However, he added that if the U.S. Federal Reserve does not change interest rates in the coming months, the exchange rate will return to 15 pesos in the second quarter of 2016.
Mexico’s Finance Minister Luis Videgaray said that the country has the resources to ensure the smooth functioning of its foreign exchange market, after the currency hit a new record low.
Videgaray concluded saying that U.S. employment data is driving weakness in the peso rather than fears over the Greek debt crisis.
more recommended stories
Is Lopez Obrador helping Donald Trump? (Az Central)
President Andres Manuel Lopez Obrador campaigned to.
What Spring Breakers need to know about the U.S. government’s Mexico Travel Advisory
The United States government is warning.
AMLO to help “El Chapo” family seek US humanitarian visas
Mexican President Andres Manuel Lopez Obrador.
Save the Yucatecan Possum: a master of survival
The opossum, tlacuache or “zorro” as.
Frozen strawberry shipment from Mexico contained $12.7 million USD worth of meth
A commercial shipment of frozen strawberries.
Club Sibarita: A national gastronomic encounter in Yucatán
Jean Philippe Guillot, co-founder of the.
“You will be captured”. Yucatan Chief of Police
The Ministry of Public Security of.
Historic Canadian investment for Southern Quintana Roo
TORONTO (CGC).– Quintana Roo´s governor Carlos.
Mexico’s National Guard unanimously approved by Senate (it won’t be military-led)
(Reuters) – On Thursday February 21st,.
Mexico’s national anthem to be sang in Maya language
As part of a select group,.