String 11 earnings sessions for the first time since 1994 – El Financiero

The Mexican coin registered his eleventh positive session against the dollarwhich meant a record since the start of free floating exchange rate regime in 1994, which helped the currency reach levels of 19 pesos per dollar at times, its highest level since September 23, 2021.

According Bank of Mexico datathe Mexican currency appreciated 0.45 percentwith which the exchange rate traded at 20.0063 units per dollar, registering a positive rally of 11 sessions of gains and its best level against the US currency since the free float of the currency began in 1994.

The peso hit a low of 19.9124 and a maximum of 20.0964 pesos per dollar during the day.


At the weekly cut, the peso registered an appreciation of 1.79 percent, its second week with gains.

“The optimism can be supported by joint announcement by the United States and the European Union of an agreement for supply Europe with liquefied gas. According to the media, the objective of the agreement is to supply an additional 15 billion cubic meters before the end of the year and increase supply to 50 billion cubic meters in 2030,” said Gabriela Siller, director of economic analysis at Banco Base. .

At the bank window, the dollar is sold at 20.47 units, according to data from Citibanamex.

The Bloomberg dollar index, which measures the strength of the greenback against a basket of 10 currencies, fell 0.08 percent to 1,195.85 points.

For the dollar index (DXY), it did not register any change with respect to a price day to settle at 98,788 points.

“For the peso/dollar, however, the appreciation extended to levels not seen since the beginning of the fourth quarter of last year. The currency closed below 20.20 and the signal is for a decline to the area of ​​20 pesos per dollar. The indicators have not registered new lows and do not support a further extension of the decline, but on the contrary they open the possibility of a significant rebound, although now the first resistance is located at 20.22″, mentioned Georgina Muñiz, technical analyst at Vector.

The main currencies that gain ground against the dollar are the Brazilian real, with 1.78 percent; the Russian ruble, with 1.74 percent; the Polish zloty, with 1.73 percent; the Norwegian krone, with 0.73 percent and the Hungarian forint, with 0.50 percent.

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