Mexican Stock Exchange falls after AMLO’s proposal for Banxico

The Mexican stock exchange (BMV) had drop in their first operations, after the president’s proposal Andrés Manuel López Obrador for what Victoria Rodriguez head the Bank of Mexico (Banxico).

At 9:03 a.m. local time, the local benchmark S & P / BMV IPC had a loss of 0.63 percent, what represents 50 thousand 794.01 points.

On the last day, the Mexican stock exchange it had closed with a gain of 1.23 percent in its main indicator, thanks to a corrective movement, to settle at 51,116.32 points.

Lopez Obrador revealed that he will nominate the current Undersecretary of Expenditures of the Ministry of Finance, Victoria Rodriguez Ceja, to be the first female governor of the Bank of Mexico.

The president made the announcement after the controversy on Tuesday, when it was reported that he had withdrawn, since August, the candidacy of Arturo Herrera, former Secretary of the Treasury of Lopez Obrador, which was nominated since June.

“In effect, Arturo Herrera is not going to be proposed to the Bank of Mexico, I am going to send this week the proposal of Victoria Rodríguez Ceja, the Undersecretary of Finance,” declared the president in his morning press conference.

The head of the Executive Federal asserted that the undersecretary “owes that there is financial stability, that no additional debt has been resorted to, she is a very good public servant.”

The exchange rate was also affected by this decision from the first minutes, where Citibanamex reported Mexican peso broke the barrier of 22 units by dollar

The foregoing represents 30 cents higher than the close of the last day in the exchange rate, which thus places it at its highest level so far in 2021.

With information from López-Dóriga Digital

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