

This depreciation is associated with internal and external factors, but the most significant risk perception is local. The approval of electricity reform in the Chamber of Deputies and the IGAE data published today raises doubts about its economic recovery.
MEXICO CITY (FOREX) – The Mexican peso fell sharply against the dollar in Thursday’s trading. The exchange rate is at the level of 20.6670 units per dollar against the official closing of 20.4270 pesos yesterday from the Bank of Mexico (Banxico).
The movement in the quotation means for the local currency a loss of 24 cents or a variation of 1.18 percent. The currency cross moves between a high of 20.7560 pesos and a low of 20.3835 pesos.
Internal and external factors
The peso’s significant depreciation is associated with internal and external factors, but the most considerable risk perception is local. Emerging currencies are also influenced by the South African rand and are falling despite a weak dollar.
Locally, traders have been closely following Congress’s discussion of a controversial electricity reform bill that the Chamber approved of Deputies. It is expected to affect Mexico’s recovery.
Also, data released this morning from the Global Indicator of Economic Activity for December shows that the economic recovery stalled due to the pandemic’s effects.
Weak dollar
There has also been a strong upward movement in Treasury bond yields due to fears that the Federal Reserve’s monetary policy will put upward pressure on inflation. This factor plays against the dollar.
The Dollar Index (DXY), which measures the U.S. currency against a basket of six benchmark currencies, fell -0.49% to 89.74 units. Despite the dollar’s fall, the peso came close early to its worst level of the year.
more recommended stories
Ice Cream Festival in Merida: Find out when and where it will be held
Gastronomic activities continue to arrive in.
Mexican Embassy in Germany returns 40 pre-Hispanic artifacts to Mexico
An Olmec style head showing the.
Music teacher plays guitar in the middle of surgery while having tumor removed
A 55-year-old music teacher had a.
Italy will deliver cultural heritage recovered in Mexico
During President Andrés Manuel López Obrador’s.
Young couple ties the knot during a Taylor Swift concert
Looking for a wedding venue? May.
Senior citizens’ property demolished due to IE-TRAM public transportation route construction works
Mr. Tomas and his wife Margarita.
IE-TRAM in Merida: Five things you did not know about this new transportation system
In mid 2022, the government of.
These are the damages caused by Kekén’s farms to the cenotes of Yucatán
Following the problem in the State.
Researchers are looking to implement the use of sargassum in chemicals, blocks and cell phone batteries
The Center for Research and Advanced.
Do you know how many US mass shootings have been registered in 2023?
Gun violence is a fixture in.
Leave a Comment