EconomyMexican peso advances for the third day, would close...

Mexican peso advances for the third day, would close the week with a moderate rise

The Mexican peso appreciated on Friday for its third consecutive daily rise, amid a weakness in the US dollar that gave some breathing room to the currencies of the region. It trades at its best level since August 26.

dollar to peso exchange rate

According to data from Bloomberg, the dollar is sold at 19.8864 pesos per unit, which implies a gain of 0.36% compared to the close of Thursday registered by the Bank of Mexico.

"The Mexican peso operates close to 19.88 units, its lowest level since August 26 and with an appreciation of 0.27% compared to the previous closing, which is an identical variation to the one it maintains compared to last Friday," Monex said in a note. sent to clients.

"The appreciation of the peso is due to a general strengthening of currencies against the dollar in the face of an increase in appetite for risk in the financial markets at the end of the week," Banco Base said, adding that "the weakening of the dollar and the appetite for risk should be interpreted as a market that has priced in a 75 basis point increase in the US interest rate.

The currency could close the week with an advance of close to 0.22%, since its upward trend was limited in large part by the caution of investors in the face of expectations of more interest rate hikes among the world's major central banks.

With information from Reuters and Bloomberg.

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