The dollar resumed its rise after two consecutive sessions of correction in the markets, for which the Mexican peso weakened at the opening of this Wednesday, above 20 pesos per dollar.
There is caution and expectations that the United States Federal Reserve will continue with aggressive increases in interest rates.
dollar to peso exchange rate
This Wednesday, October 5, the exchange rate was quoted at 20.0518 pesos per dollar , a depreciation of 0.43% compared to the closing price of the Bank of Mexico, on Tuesday, when the dollar was quoted at 19.9659 per unit.
The depreciation of the peso is due to the fact that the US dollar has resumed its upward trend, after two sessions of correction. The advance of the dollar, indicated the Banco Base, is due to two main factors.
First of all, the market continues to speculate that the Federal Reserve will continue to raise the interest rate at an aggressive pace . And, second, there is greater caution, in anticipation of relevant economic indicators, such as employment statistics in the United States.
In this regard, analysts consulted by Reuters expect private payrolls to have increased to 200,000 jobs in September, compared to the creation of 132,000 jobs the previous month.
During the session, the exchange rate is expected to trade between 19.98 and 20.10 pesos per dollar.