EconomyLAST MINUTE: The Mexican peso is the fifth most...

LAST MINUTE: The Mexican peso is the fifth most appreciated currency against the dollar at the opening

The Mexican peso appreciated slightly at the opening of this Tuesday, while the markets await information on the next decisions on monetary policy from the United States Federal Reserve, but also from other central banks, such as those of Canada, Brazil and the Central Bank European.

Exchange rate from dollar to pesos

This Tuesday, October 25, the Mexican peso appreciated slightly, advancing 0.10% compared to the settlement price on Monday. At the opening of the markets this Tuesday, the exchange rate stood at 19.9080 pesos per dollar , with a gain for the peso compared to the previous session, of 19.9285 pesos per dollar.

The foreign exchange market was operating without a clear direction, waiting for clues about the direction of the monetary policies of the United States and other central banks such as Brazil, Canada and, on Thursday, the European Central Bank, indicated the Grupo Financiero Base.

In this sense, “the currencies that are gaining ground are: the Chilean peso with 0.57%, the South Korean won with 0.44%, the pound sterling with 0.25% and the Swedish crown with 0.22%. The Mexican peso is in fifth position among the currencies that are gaining ground “, pointed out the entity.

However, “the Mexican currency maintains a lateral operation, but it stands out that the Bollinger Bands continue to narrow, which technically normally anticipates volatility ,” said Monex Grupo Financiero in an analysis note.

On Monday, , to reach 24 pesos per dollar, as Moody’s Analytics recently anticipated.

Finally, during the session, the exchange rate is expected to trade between 19.85 and 20.05 pesos per dollar.

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The exchange rate recorded its fourth day of appreciation and closed at 19.8873 pesos per dollar, its best level since September 12.

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Analysts in Mexico estimate that the peso could find a ceiling at levels of 20.30 units, since there are no serious elements that allow a strong depreciation of the local currency to be perceived.

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