The Mexican peso traded slightly lower on Tuesday, extending the decline seen at the start of the week, as investors wary of threats to the global economy dampening appetite for riskier assets.
dollar to peso exchange rate
The Mexican currency was trading at 20.0670 units per dollar, with a decline of 0.32%, compared to Monday's close recorded by the Bank of Mexico, of 20.0029 pesos per dollar.
"For the rest of the day, the exchange rate could fluctuate between 19.92 and 20.08" pesos per dollar, according to a note to clients from Ci Banco.
Analysts highlighted that the climate of nervousness in global markets continues to favor upward risks, so the Mexican currency is expected to trade in a limited range, with a 10-day moving average of 20.02 units per dollar.
In the international market, the dollar index was trading nearly 0.27% higher against a basket of peer currencies, as traders sought haven currencies amid fears of a recession in Europe and new COVID-19 lockdowns. in China.
With information from Reuters, Bloomberg and Banco de México.
