Mexico City. At the start of the last day of the week, the peso appreciated 0.60 percent against the dollar’s closing price on Thursday, as the exchange rate stood at 19.71 units of the Mexican currency for each U.S. currency.
After the dollar was quoted at 19.83 pesos on the fourth day of the week, the exchange rate showed a downward trend overnight.
The peso’s losses the day before were explained by the upward revision of the United States’ gross domestic product (GDP), but also by preparations for a possible approval of judicial reform in September in the Congress of the Union, where Morena and its allies have a qualified majority.
“The exchange rate cut part of the decline seen in previous sessions, halting the accelerated upward trend of the week and replicating, to a lesser extent, the correction of last Friday when the inflation data of the Consumer Price Index in the United States were published,” said analysts at Monex.
As a result, the Mexican currency was ranked as the second currency of emerging countries that saw the greatest gains against the dollar.
The S&P/BMV IPC index of the Mexican Stock Exchange (BMV) stood at 52,942.23, a figure that showed a decline of 196.67 points or 0.37 percent compared to Thursday’s close.
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– 2024-08-30 23:37:24
