06/12/2024 – 19:24
The president of the Bank of Mexico (Banxico), Victoria Rodríguez, said this Wednesday, 12, that the central bank could take measures, if necessary, to restore stability in local markets, after the Mexican peso weakened sharply since the June 2 elections.
At a press conference, Rodríguez stated that the central bank has a series of mechanisms at its disposal, either acting on its own or through the exchange rate commission, which includes officials from the Ministry of Finance.
“It is normal for markets to present adjustments when incorporating unexpected scenarios, as is happening,” said Rodríguez. She noted that Mexico has record foreign reserves of $219 billion and said the solid macroeconomic fundamentals that led to the peso’s strong performance ahead of the elections remain in place.
The Mexican peso has faced strong pressure in recent days, amid signs from Mexico’s elected president, Claudia Sheinbaum, that her government will move forward with the constitutional reform agenda, which includes changes to the judicial system.
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