EconomyThe exchange rate: Stable and awaiting inflation data in...

The exchange rate: Stable and awaiting inflation data in the United States

The Mexican peso appreciated on Tuesday after news that local inflation accelerated in July more than expected, confirming the prospects that the central bank will raise its key interest rate again this week.

This morning the dollar is sold at 20.2093 pesos, according to data from Bloomberg , this means an appreciation for the Mexican currency of 0.26% compared to Monday's close, recorded by the Bank of Mexico, of 20.2633 pesos per unit.

The National Consumer Price Index stood at 8.15% in July, a level not seen since December 2000, according to figures from the statistics institute, INEGI, while core inflation registered a variation of 7.65%.

"With the foregoing, the expectation is maintained that inflation could reach 8.7% annually at the end of the year (…) And it is estimated that the Bank of Mexico will raise its interest rate by 75 basis points to a level of 8.5% ", indicated the BASE Financial Group.

During the session, the exchange rate is expected to trade between 2.23 and 20.32 pesos per dollar, while the market awaits the inflation data for the United States, which will be released on Wednesday. The expectation is that annual inflation will be lower than the rate of 9.1% seen in June.

The exchange rate continues close to 19.80 pesos per dollar, will it reach 19...

Although the Mexican currency suffered a slight depreciation at the opening of this Friday, it continues at levels that could consolidate in a downward trend, but a rebound is not ruled out.

LAST MINUTE: Mexican peso reaches its BEST level against the dollar in more than...

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

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

While signs on monetary policy are expected in the United States, Canada, Brazil and Europe, the Mexican peso advances slightly this Tuesday.

The 9 worst depreciations of the Mexican peso in recent history

Among the strongest falls in the national currency are those caused by the covid-19 pandemic, in 2020, and the one that triggered the Trump phenomenon during the government of Enrique Peña Nieto.

Isn't everything so bad? The peso would show weakening, but not as Moody's indicates

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.