The peso is one of the best currencies in emerging markets, while the euro has already lost almost 12% of its value so far this year. And, for the first time, it fell below the price of the dollar.
The increase in Banxico's benchmark rate, on Thursday, and the weakness suffered by the dollar led the peso to have its best weekly performance since May 2020 and to trade at 19.9 per dollar.
The Mexican currency depreciated after the United States Federal Reserve indicated that from 2023 it will begin to raise its rates, an announcement that the market did not like.
The markets were operating with advances after Sunday's elections in which the Morena party is expected to get just under 50% in the Chamber of Deputies.
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