Mexico City /
The peso traded at 20.55 units per dollar near the end of the session this Monday, with a depreciation of 0.52 percent compared to the reference price on Friday; local currency it fell back to 20.68 units, its worst level since January 6.
the mexican currency fell swept away by a global wave of aversion to risky assets, due to tensions between Russia and the West over Ukraine, and the possibility of a more aggressive monetary policy by the US Federal Reserve (Fed).
dollar in banks
- BBVA Mexico: 20.83 pesos
- Citibanamex: 21.08 pesos
- Banorte: 20.85 pesos
- Santander: 21.20 pesos
- Azteca Bank: 20.39
The domestic currency fell to its weakest level in more than two weeks, while the leading index of local stocks had five sessions with losses; andhe dollar rose to a two-month high on Monday.
The markets had not been worried about the cconcentration of Russian troops on the borders of Ukrainebut tensions have risen of late, as US President Joe Biden is considering increasing military assets in Eastern Europe.
Meanwhile, the investors are awaiting the Fed’s two-day monetary policy meeting, which starts on Tuesday. The central bank may tighten monetary policy at a faster pace than thought a month ago to rein in persistently high inflation.
“The rising geopolitical risk compounds investor anxiety and drags down risky assets,” said Craig Erlam, market analyst at OANDA. “It could be a make-or-break week for markets, with the Fed meeting on Wednesday … and ongoing tensions on the Ukraine-Ukraine border. Russia”.
Dollar in real time