Written in ECONOMICS on 01/09/2024 · 16:06
The Mexican peso is ‘going full steam’: this Tuesday it depreciated against the dollar and closed at 16.9576 units, according to data from Bank of Mexico (Banxico).
The above represents a decline of 0.875% compared to the Central Bank reference price on Monday.
Furthermore, the coin broke out of the two-session rise it had previously recorded, when it reached levels not seen since late August.
In today’s session the Mexican peso fluctuated between a maximum level of 16.9880 and a minimum level of 16.8720 units per dollar.
Why did the peso fall against the dollar?
Second Reutersthe currency came under pressure from local data that showed headline inflation accelerated more than expected in December, although the underlying index continued to moderate.
“Today the market received news of a rebound in December inflation in Mexico, which reinforces the view of a cut – of the key interest rate – by Banxico at its March meeting,” the agency quotes in a analysis note from Monex Grupo Financiero.
Thus, inflation in Mexico rose to 4.66% on an annual basis, according to data from the National Institute of Statistics and Geography (Inegi).
2024-01-09 22:06:00
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