‘breaks the floor’ of 20 units per dollar – El Financiero

The weight maintained its winning streak against the US dollar and broke the floor of 20 pesos per dollar on Friday, linking eight consecutive days of appreciation. The recovery was explained in part by the positive effect of the increase of 75 basis points in the interest rate of the Bank of Mexico (Banxico).

According to Banxico, the Mexican currency appreciates 0.64 percent, and the exchange rate was 19.8736 pesos per dollar. The peso touches a minimum of 19.8310 pesos and a maximum of 19.9330 pesos.

With this, the exchange rate accumulates an advance of 3.7 percent, equivalent to a revaluation of 76 cents.

In its weekly comparison, the peso registers an increase of 2.38 percent against the dollar, its best week since mid-March 2022.

For its part, the dollar index registered a fall of 0.33 percent to 1,252.87 units.

In bank windowthe dollar stands at 20.35 pesos per greenback, according to data from Citibanamex.

“After the rise in interest rates, the market has welcomed the 75 base points that put the interest rate at 7.75 percent, during the following sessions we will be able to see a stronger peso until we have new data since the impact of this decision will not amortize the inflation levels immediately”, commented Eduardo Ramos, regional analyst in LATAM of ATFX.

In the money market, the 10-year Treasury note rate shows an increase of 6 base points, standing at 3.14 percent. In Mexico, the 10-year M bond rate shows an increase of 1 base point, standing at 9.02 percent.

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