War in Ukraine charges ‘invoice’ to the peso; has its worst fall since 2020 – El Financiero

The exchange rate closed this Monday above 21 pesos per dollar before the advance of the conflict in Ukraine and the analysis on the prohibitions of imports of Russian oil by European countries and the United States.

On the other hand, President Vladimir Putin reiterated that he will not stop the war until he demilitarizes Ukraine and removes his government.

According to data from the Bank of Mexico (Banxico)the Mexican currency depreciated 2.02 percent, bringing the exchange rate to 21.31 units per dollar.

This was the worst drop for the peso since on September 23, 2020 and it is its worst level against the US currency since December 14, 2021.

The peso touched a minimum of 20.91 and a maximum of 21.27 pesos per dollar during the day.

“There was an increase in risk aversion in global financial markets, after the weekend the war in Ukraine continued to escalate, while on Sunday the president of Russia reiterated that he will not stop the war until Ukraine demilitarizes and removes his government. . This raises the probability that private companies continue to leave Russia and that the governments, mainly of European countries and the United States, impose new sanctions on Russia”, explained Gabriela Siller, director of economic analysis at Banco Base.

at bank windowthe dollar is sold at 21.84 units, according to data from Citibanamex.

The Bloomberg Dollar Indexwhich measures the strength of the greenback against a basket of 10 currencies, rose 0.39 percent to 1,204.78 points, its highest level since July 17, 2020.

For the dollar index (DXY), a growth of 0.64 percent is registered to settle at 99.24 points, its highest level since May 25, 2020.

The increase in nervousness and the search for financial refuge they continue to favor the US dollar, leading the Dollar Index (DXY) to a new high in nearly two years of trading,” Vector analysts said.

In addition to the peso, the main currencies that depreciated against the dollar this Monday were:

  • Russian ruble, with 11.34 percent
  • Hungarian forint, with 2.19 percent
  • Polish Zloty, with 2.06 percent;
  • Icelandic Krona, at 1.95 percent
  • Norwegian krone, with 1.56 percent

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