The Mexican peso experienced a very significant depreciation on the afternoon of this Sunday, August 4affected by external factors and international market movements, especially those from Asiathat They open many hours before the Mexican currency markets and USA.
He Exchange rate closed at 19.4537 units per dollar and, at around 9:00 p.m. Central Mexico time, climbed to 19.99 units.
According to Gabriela Siller, director of economic analysis at Grupo Financiero Banco Base, the fall of the stock market in Japan has been the main factor behind this The peso falls against the US dollar.
Financial markets have reacted to a series of global events and expectations that have also impacted the performance of the Mexican peso.
These factors include: possibility of an imminent recession in the United States and the expectation that the Bank of Japan will continue to raise its interest rates, which has increased risk aversion in Mexico.
In the national political context, the proposed constitutional reforms and the potential qualified majority that Morena and its allies could obtain in the elections, particularly related to the elimination of autonomous bodies and the election of ministers, judges and magistrates, have generated uncertainty and pressure on the currency.
He Tokyo stock market crash has been another determining factor. The main index, the Nikkei, registered a fall of more than 5% at the start of the session on Monday.dragged down by the strength of the yen, which reached its highest level against the dollar since January, following a recent rate hike by the Bank of Japan.
This has had a negative impact on the major Japanese exporterswhose repatriated profits are affected by the appreciation of the currency.
This panorama suggests a Volatile environment for the Mexican pesowhich has seen the exchange rate rise more than three pesos since the lowest point of the year until now.
The complex interaction of global economic factors and domestic policies continues to create a challenging scenario for the Mexican economy.
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