Mexican Peso Declines Further

The Mexican peso continues to depreciate against the U.S. dollar, registering a 0.98 percent loss in value in wholesale trading this Thursday, closing at an exchange rate of 19.83 pesos per dollar, a level not seen since August 14, according to figures from the Bank of Mexico.

The depreciation of the peso is driven by both external factors, such as macroeconomic indicators in the United States and Japan, and internal factors, including the potential elimination of autonomous bodies and judicial reforms.

It is worth noting that over the last nine trading days, the peso has depreciated by 6.07 percent or 1.13 pesos against the dollar, reaching a maximum level in intraday trading in the spot market of 19.9210 pesos per dollar and a minimum of 18.6640 pesos per unit during this period.
Gabriela Siller Pagaza, Director of Economic Analysis at Banco Base, stated that Thursday's peso depreciation was due to the upward revision of the U.S. Gross Domestic Product (GDP), which strengthened the U.S. dollar by 0.25 percent, according to the weighted index.
Additionally, there is increased risk aversion towards Mexico due to the likelihood of approval of the judicial reform and the elimination of autonomous bodies, which jeopardizes trade relations with the United States and Canada, economic growth, Mexico's sovereign debt credit rating, and the country's overall macroeconomic stability.

Sigue leyendo:

Claudia Sheinbaum confirma solicitud del ‘Mayo’ Zambada por repatriación a México: “Se va a revisar el caso”

La presidenta mencionó que se sigue de cerca el proceso contra el líder del Cártel de Sinaloa y que la FGR revisará la solicitud de Zambada

During the last nine trading days, the peso has ranked among the first and second most depreciated currencies in operation.

Sigue a Heraldo USA en Google News, dale CLIC AQUÍ.