For the fist time in history, the U.S. dollar broke the 19 peso barrier in banks, due to a small rise in the price of oil.
Thursday morning the trajectory looked good for the Mexican peso, until midday when the peso began to plummet next to the dollar. It fell to a historic maximum of 19.1 pesos per dollar and minimum of 18.6 pesos per dollar.
The dollar rose 1.34 percent, or 24.8 cents against the local currency, a devaluation that implies a new historic exchange rate of 18.78 pesos per dollar.
Despite the U.S. dollar’s rise in the morning, Mexico’s Central Bank (Banxico) did not need to execute any sort of dollar auction in order to maintain the market.
During the fourth session of the week, the exchange rate fluctuated between 18.43 and 18.8 pesos per dollar. The euro varied between 1.07 to 1.09 dollars and between 19.87 and 20.46 pesos.
National Action Party (PAN) and Democratic Revolutionary Party (PRD) representatives told government authorities to leave their optimism aside and to recognize the critical economic situation of the country. Nevertheless, the president of the Public Budget and Accounts Commission and member of the Institutional Revolutionary Party (PRI), Baltazar Hinojosa, said that the government has taken the appropriate measures to confront the situation.
He said that the rise of the dollar should not impact the prices of products.
“We need to remain calm. Obviously this is a moment in which we need to act and I think that the government is acting in the best way possible,” Hinojosa said.
more recommended stories
Gabriel Quadri invokes “TUMOR” All united against Morena
Former presidential candidate Gabriel Quadri all.
Residents of Valladolid take justice on their own hand
VALLADOLID.— Tired that several robberies have.
He went in search of the “American Dream” and now his family tries to repatriate his remains
Like many young people in southern.
AMLO skirts Donald Trump’s criticism of anti-drug enforcement
President Andrés Manuel Lopez Obrador said.
American citizen caught smuggling 13,000 rounds of ammo into Mexico
MEXICO CITY (AP) — The Mexican.
Cancun’s Equity Park: a project of inclusion and environmental consciousness
The Strategic Projects Agency ( Agepro ) of Quintana Roo presented this.
Mexico requests extension of US-Mexico land border restrictions
Mexico’s Secretary of Foreign Relations said.
Mom and 2-year-old kicked off flight over face mask confrontation
When Jodi Degyansky and her 2-year-old.
Mexican Jesus Seade out of the running to lead the World Trade Organization
GENEVA, SWITZERLAND (Reuters) – The Mexican,.
Tropical Depression 22 forms in the Gulf of Mexico
A disturbance over the Gulf of.