exchange rate in Mexico fell this Friday from 18 pesos to the dollar, how did he touch his best level in 5 years against the background of the weakening of the US currency.
“This morning, the Mexican peso passed the 18 peso mark, taking first place. 17.98 against the dollar.
“This 0.18% gain makes our currency the best historical moment in nearly a century,” Mexican Presidential spokesman Jesús Ramirez Cuevas said on Twitter.
The Mexican peso last traded below $18 on April 17, 2018, when it closed at 17.97 per US note, according to the history of the Bank of Mexico (Banxico).
The milestone comes after the Mexican peso ended 2022 as the second of four currencies to appreciate against the d.The US dollar, along with the Russian ruble, the Brazilian real and the Peruvian sol.
While the pound sterling, euro and pesos of Colombia and Chile hit all-time lows in 2022, the Mexican currency ended the last day of the year at 19.50 units per US banknote, according to Banxico, up 5% from 20.53 last year. first day
You may be interested > The Super Peso is trading at 18.00 per dollar, the best level since 2018.
Negative trends
From a technical point of view, the exchange rate keeps declining, noted Gabriela Siller, director of economic analysis at Banco Base, in a study sent to the media.
“The Mexican peso’s gains come as the US dollar is down 0.24% on a weighted index as global financial market risk appetite rises following the release of positive economic data from China,” Siller said. said.
Peso rises after Tesla’s announcement in Mexico
The peso’s appreciation also comes after the Mexican government announced a $5 billion investment from an electric car company on Tuesday. Tesla to build assembly plant in Nuevo Leon in the north of the country, which is becoming the largest in the world.
You may be interested > AMLO claims that the peso in his government has risen by 10.1%.
“This is also an exceptional case, Mexico is the country in the world with the strongest currency after the dollar. There has been a little more than 10% appreciation of the peso (since this government took office), it has risen, it has not happened in half a century,” President Andrés Manuel López Obrador said on Thursday. (EFE)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
