Only behind the Brazilian real and the South African rand, the Mexican peso It was the third currency that lost the most against the dollar in the first half of 2020.
After the end of 2019, at 19.16 units per dollar at CitiBanamex windows, the exchange rate closed this Tuesday at 23.36 pesos, which means an accumulated depreciation of 4.20 units or 21.9% in the first semester of the year.
In international negotiations, the weight accumulates a loss of 21.5%, according to information from the Bloomberg agency.
It is the third currency that has depreciated the most in 2020, only after the Brazilian real, whose collapse is 35%, and the South African rand, with a collapse of 23.9 percent.
Instead, the Swiss franc was the currency that gained more ground to the dollar, with an appreciation in the year of 2%; followed by the Taiwanese dollar, with 1.4%; and the Japanese yen, with 0.6 percent.
In the year, the main pressures on the Mexican currency came from March, when investors panicked and began selling pesos to protect themselves from the global economic recession that triggered the COVID-19.
The coin it ended at 25.68 units on March 23, the worst close in the history of the Mexican peso.
The depreciation of the exchange rate was also related to the collapse of oil prices, the downgrade in the credit ratings of Mexico and Pemex, the divestment of foreigners in government securities, and mistrust in government decisions, according to analysts. .
When May arrived, investors began to be optimistic about the reopening of some economies, particularly in the United States, which caused the dollar It would give ground against most currencies.
This allowed the peso to touch levels below 22 units per dollar in early JuneThis was also related to market speculation that the United States Federal Reserve would send its main interest rate to negative territory.
However, in recent weeks, the dollar has strengthened again against almost all currencies due to an uptick in COVID-19 cases in the world.
JM
– .
