The Mexican currency depreciated 0.19% against the dollar this morning. The exchange rate is expected to remain above 20 pesos per unit throughout the day.
The dollar is strengthening against most currencies with a very high probability that the Fed will raise its interest rate. The exchange rate will be around 20 pesos per dollar.
Most of the currencies that have depreciated the most in the year are from poor and emerging countries, since the dollar has strengthened to levels not seen in almost 20 years.
This Friday the exchange rate is expected to trade between 19.83 and 19.97 pesos per dollar, while the Fed in the United States is expected to continue with aggressive increases in interest rates.
The strength of currencies such as the Mexican peso is mainly due to the fact that raw materials continue to rise and the expectation of higher interest rates towards the end of the year.
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