For the second consecutive session, the dollar appreciated at the opening of this Thursday against the Mexican peso and other currencies. The rise in the dollar occurs in a context of caution given the employment figures published this Friday in the United States. In addition, Federal Reserve officials do not predict a drop in interest rates in the short term.
dollar to peso exchange rate
The exchange rate, this Thursday, October 6, was quoted at 20.1335 pesos per dollar at the opening . This implies a weakening of the peso of 0.53% compared to the closing price on Wednesday, which was 20.0265 pesos per dollar, according to the Bank of Mexico.
The strengthening of the dollar is due to the caution that exists before the publication of the employment figures in the United States, which are published on Friday. In addition, the US Federal Reserve is increasingly expected to continue raising interest rates in the coming months.
"Yesterday, officials from the Federal Reserve reiterated that they plan additional increases in the interest rate and added that the market is wrong to speculate possible rate cuts in 2023, because for these cuts to be decided, it will first be necessary for inflation to return. towards the 2% target," said Banco Base, which estimated that the exchange rate will trade between 20.00 and 20.15 pesos per dollar during Thursday's session.
