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
Fonatur accused of logging more than 144 hectares of forest land for the Tren Maya
MÉRIDA, MX.- Civil associations have joined.
Yacht catches fire on the high seas off the shore of Celestún
The yacht “Juan Pablo” at the.
Mauricio Vila promotes Yucatan during the meeting of governors with the United States Ambassador
Villahermosa, Tabasco, (October 21, 2021) .-.
Greenpeace asks Profepa to investigate alleged illegal planting of transgenic soybeans and corn in Campeche
MÉRIDA, MX.- The international group Greenpeace.
Fossil stuck in 100 million-year-old amber is oldest “true crab” ever discovered
In 2015, two researchers stumbled across.
We still have five weeks left to 2021 hurricane season
The 2021 hurricane season hasn’t been.
Increased feeling of insecurity among Merida residents (INEGI)
Mérida, Yucatán.- Insecurity perception indexes throughout.
FGE arrests two men for child abuse in Yucatan
MÉRIDA, Yucatán, (October 21, 2021) .-.
Agustín Gusto, the first wine produced in Valladolid, Yucatán
Valladolid, Yucatán.- The Agustín Gusto restaurant,.
Mérida’s 2022 municipal budget proposal is ready
Merida will prioritize health services, security.