Mexico City.- The Mexican peso appreciated on Monday as investors evaluated local inflation data that was lower than expected and kept an eye on developments regarding a controversial judicial reform, Reuters reported.
The domestic currency was quoted at 19.8519 units per dollar, up 0.59 percent from Friday’s closing price.
On Monday, it was learned that the local consumer price index rose 0.01 percent in August, according to data from the statistics institute. “In Mexico, inflation rose less than expected in August, 0.01 percent m/m against the expected 0.07 percent, while core inflation rose 0.22 percent m/m, slightly below the expected 0.23 percent. With these results, headline inflation fell from 5.57 to 4.99 percent, and core inflation from 4.05 to 4.00 percent,” VectorAlisis said.
Mexican senators approved a controversial proposal to reform the justice system on Sunday night, which, among other things, proposes that judges, magistrates and ministers of the Supreme Court be elected by popular vote.
#Peso #strengthens #inflation #data
