EconomyExchange rate: The peso rises after the rally of...

Exchange rate: The peso rises after the rally of the dollar on Tuesday

The Mexican peso appreciated on Wednesday while the dollar lost some momentum after strong gains the day before, which came in reaction to US inflation data pointing to tighter monetary policies.

dollar to peso exchange rate

The dollar index that tracks the currency against six major competitors soared 1.5% on Tuesday, its biggest daily percentage gain since March 2020.

The Mexican peso was trading, according to Bloomberg data, at 20.0429 units per dollar, a gain of 0.13% compared to the closing recorded by the Bank of Mexico on Tuesday, when the exchange rate was 20.0709 pesos per dollar.

"The appreciation of the peso is the result of a partial correction after the strong depreciation on Tuesday, when inflation in the United States was published, above market expectations," said the Grupo Financiero Base, which estimates that the exchange rate quote between 19.93 and 20.12 pesos per dollar.

With information from Reuters.

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