Mexican Peso Reaches New Record in Seven Years Awaiting Monetary Policy Decisions

by worldysnews
0 comment

The Peso Hits Record High in Seven Years, Amidst Awaited Inflation Figures of US and Central Bank Decisions

Forbes Staff

June 12, 2023 @ 9:27 am2023-06-12T09:27:08-05002023-06-12T09:27:15-0500

Economy - dollar - peso - currency
Photo: © Karina Hernandez

The Mexican peso rose to a new record in seven years at 17.2610 per dollar, gaining 0.10% against Friday’s Reuters reference price, previously achieving 17.2360, the highest since May 2016. This appreciation occurs amidst the anticipation of important financial news this week, such as inflation figures in the United States and monetary policy decisions of several central banks, including the Federal Reserve (Fed).

Analysts Weigh In on Potential Currency Fluctuation

Reuters.- Monex Grupo Financiero noted in an analysis note that “the performance of the Mexican currency reflects that investors are operating cautiously, waiting for important information to be published this week”. Although the peso hit a seven-year high, analysts from CI Banco expected the currency to oscillate between 17.15 and 17.60 per dollar throughout the week. Locally, investors also focused on the central bank’s financial stability report. These analyses highlight the current market’s uncertainties and anticipation of crucial financial developments and decisions in the coming days.

Stay on Top of Business News with Forbes Mexico and Google News

Follow Forbes Mexico to stay informed on the latest business and news updates, especially during this critical financial period. Additionally, stay updated with Google News to get the latest news notifications regarding the business and financial world.

You may also like

Leave a Comment

Wrodlys News