The Mexican peso spins seven weeks with gains

In the last session of the week, the Mexican peso ended with an appreciation of 1.47 percent or 28.6 cents, to trade around 19.13 pesos per dollar, Banco Base reported.

The financial institution indicated that the progress of the National currency It has lasted for the last seven weeks, period where it accumulated a gain of 6.24 percent or one peso and 27 cents.

Similarly, he pointed out that almost all currencies gained ground against the dollar, although the peso managed to place itself as the most appreciated currency in the basket of main crosses.

This was due to the weakness of the green ticket, whose weighted index lost 0.63 percent in the week, while accumulated a decline of 2.36 percent in the last four weeks.

Banco Base referred that There were several factors involved that led to the recovery of weight during the week, among them the expectations of the Federal Reserve (Fed) to temporarily halt increases in the interest rate, along with a more restrictive position of the Bank of Mexico (Banxico).

In addition, the possibility that the trade war between China and the United States will moderate, an increase in the price of oil, as well as a lower aversion to risk in the international financial markets, facilitated the gains for the capital markets.

So, at the close of the week, the exchange rate came momentarily to a minimum in the year of 19.0599 pesos per dollarr, after being published in Mexico that the Ministry of Finance completed the process of contracting oil hedges for this year, at a price of 55 dollars per barrel for the Mexican export mix.

Under this context, bank branches of Mexico City sold the free dollar at a maximum price of 19.51 pesos, unchanged from the previous closing, and bought it at a minimum of 18.00 pesos.