It closes its best first quarter in 4 years – El Financiero

This Thursday the peso depreciated against the dollar for the lack of progress in the peace talks between Ukraine and Russia, while Russian President Vladimir Putin announced that he will stop supplying gas to buyers from “hostile” countries unless they start making their payments in rubles from April 1st.

For the intraday session, the Mexican currency lost 0.12 percentwith which the exchange rate was quoted at 19.8911 units per dollar, after having its best level in eight months, however, closed with its best first quarter since 2018 with an appreciation of three percent, according to data from the Bank of Mexico (Banxico).

The peso touched a minimum of 19.8178 and a maximum of 19.9691 pesos per dollar during the day.

For the monthly closing, the Mexican currency registers an appreciation of 3.1 percent, its best month since December 2021.

“The dollar gains and the euro depreciates on the limited progress in the peace talks between Russia and Ukraine, as the Ukrainian forces are preparing for new attacks, while Moscow builds up troops. For their part, in the face of greater risk aversion, almost all emerging currencies operate in negative territory,” said Janneth Quiroz, deputy director of economic analysis at Monex.

At the bank window, the dollar is sold in 20.39 unitsaccording to Citibanamex data.

The Bloomberg dollar index, which measures the strength of the greenback against a basket of 10 currencies, rose 0.31 percent to 1,191.75 points.

For the dollar index (DXY), an increase of 0.48 percent is recorded to settle at 98,317 points.

“In the last session of the month (and of the quarter), the Mexican peso traded indecisively, but very close to yesterday’s closing levels, around 19.90 spot pesos. Operators remain attentive to the negotiations between Ukraine and Russia, which will resume tomorrow, April 1”, said CI Banco analysts.

The main currencies that depreciate against the dollar are the Norwegian krone, with 2.55 percent; the Swedish crown, with 1.59 percent; the Polish zloty, with 0.96 percent; the South African rand, with 0.92 percent; the euro, with 0.80 percent; the Icelandic krona, with 0.79 percent; the Hungarian forint, with 0.70 percent; the Czech crown, with 0.70 percent and the New Zealand dollar, with 0.59 percent.

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