Exchange rate above 18 pesos per Dollar benefits several sectors

After the exchange rate surpassed 18 pesos per dollar since June 7, and has remained at that level, Marcos Martínez García, Chairman of the Board of Directors of Grupo Bolsa Mexicana de Valores (GBMV), stated that the movement in the exchange rate "does not scare," but rather is better for some economic sectors and for those receiving remittances.

Martínez García mentioned that it is reassuring that the country's macroeconomy is solid, which is more important and goes beyond a period of nerves and transitions, he noted in a conference at the 13th Issuers Forum 2024, organized by GBMV.

He emphasized that the exchange rate did not move due to a change in government or because some things were not liked, and reiterated, "it does not scare, in fact, for several sectors of the country this exchange rate is much better than the one we had."

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For exporters, he indicated, there was no worse news than having an exchange rate below 17 pesos, as their competitiveness for exporting was becoming really very difficult.

Likewise, people receiving remittances do not appreciate having their dollars exchanged at 16.50 per unit.

Another positive point, he commented, is that during this government transition, there is certainty that the teams that have managed macroeconomic control and strategy will remain, such as the Ministry of Finance.

During the forum, it was reported that the BMV presented a package of proposals to the virtual president, Claudia Sheinbaum, to encourage market growth.