He President Andrés Manuel López Obrador claimed that weight remains stable despite the bankruptcy of three enterprises Credit Suisse in the United States.
“There were bankruptcies in two banks USA and this has affected the entire global market, but the peso is stable,” he said this Thursday during a morning press conference at the National Palace.
The President argued that the peso continues to remain without devaluation, despite changes in exchange rates. “This has never happened before in 50 years,” he said.
The Mexican peso depreciated again on Thursday, following the previous day’s trend, as distrust in the banking system lingered and investors digested a strong interest rate hike, Reuters reported. European Central Bank.
For its part, the Mexican stock market started Thursday with growth, reversing the trend of the previous two days.
Internationally, the European Central Bank continued its tight monetary policy and raised rates by 50 basis points, while the United States posted lower-than-expected weekly jobless claims.
“Now the concern of central banks is not only inflation control, but also the proper functioning of the financial market,” MetAnálisis analysts said in a note sent to their clients.
The national currency was quoted at the level 19.0600 per dollar, down 0.54% from Wednesday’s Reuters benchmark price, extending the previous day’s losses and breaking the 19 peso per dollar barrier.
“The main exchange rate resistance is now in the region of 19.20 pesos to the dollar as part of the consolidation process,” they added regarding the local currency.
(According to Reuters)
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.
