Sunday , June 20 2021

Peso retreats due to small dollar improvement



O Mexican peso closed the session on Thursday, January 17, with a fall of 0.66% or 12.5 cents, quoted at around 19.01 pesos per dollar, the biggest drop since December 13, reported Bank of Base.

This depreciation was due to an upward correction of the exchange rate, after reaching a drop in the year of 18.87 pesos per dollar during the first hours of the day, a sign that at levels below 18.90 pesos there is a strong demand for dollars by companies with the goal of meeting financial needs, he explained.

According to the financial institution, during the session the perception of risk did not increase in relation to Mexico, so that the exchange rate could fall again in the short term, although gradually.

He pointed out that at the beginning of the session the dollar also strengthened moderately following the publication of positive economic indicators in the United States, such as the initial applications for unemployment support last week and the country's business conditions index. Federal Reserve (Fed) of Philadelphia.

In Mexico, on Thursday morning, members of the presidential cabinet presented new advances in the strategy against theft of fuel.

For the Base Bank, the results did not have an observable effect on the financial markets, but it is relevant, as market participants await concrete advances in the federal government's strategy that allow the complete restoration of gasoline supply in the market. parents

In this context, in the banking branches of the Mexican capital, dollar free was sold at a maximum price of 19.35 pesos, five cents more than the previous closing, and was purchased with a minimum of 17.90 pesos.

Bolsa Mexicana maintains positive trend

With information from Notimex.

FJMM


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