The Mexican peso fell against the dollar on Monday amid an aversion to risky assets fueled by fears of tighter monetary policy by the world's big central banks.
dollar to peso exchange rate
The Mexican peso was trading at 19.9711 units per dollar, with a loss of 0.06% compared to the closing price of the Bank of Mexico, on Friday, when the dollar was trading at 19.9587 pesos per unit.
A Banorte note sent to clients highlighted the negative bias for the Mexican currency, in line with the decline in emerging market currencies, at a time when investors are paying attention to the European Central Bank's monetary policy agenda, which this week could implement an interest rate hike of 75 basis points.
Locally, investors were reacting to the latest consumer confidence report and bracing for the August inflation rate report due mid-week.
Meanwhile, the dollar index that measures the US currency against a basket of currency pairs was trading almost stable at 109.94 units, very close to its highest level since June 2002.
With data from Reuters and Bloomberg.
