Mexico.- This Friday, May 27, 2022, the Mexican peso appreciated against the united states dollar ending the last week of this month on a positive note. The national currency managed to advance extending its winning streak as a result of a weakening of the US currency in the market.
This day, the exchange rate closed the day at 19.6064 units compared to a record of 19.7752 units yesterdayThursday, May 26, according to data published by the Bank of Mexico (Banxico). This meant a movement of 16.88 cents or 0.85% for the Mexican peso.
During this week, the national currency, compared to the record of 19.8875 units per dollar on Friday, agglomerated a gain of 28.11 cents or 1.41%. Meanwhile, the Dollar Index (DXY) yielded, during the referred period of time, -1.43% to 101.67 units.
Before the decreased fear in the domestic market Related to inflationary pressures and interest rates, the US dollar has weakened in recent days. The foregoing after the publication of the minutes of the Federal Reserve.
The Central Bank reported in the minutes of its May meeting that it contemplates carrying out two increases in 50 basis points to ratesruling out an increase of 75 basis points for the time being, an increase feared by market participants.
According to the minutes of fedit is contemplated that the inflationary pressure that has been registered in the United States during the last weeks will begin to give way in the course of this 2022.
Regarding the appreciation of the Mexican peso against the United States dollar, the financial group Core Bank emphasized that such gain should not be attributed to internal elements of Mexicobut to a general weakening of the US currency.
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“It should not be attributed to internal factors, but to a general weakening of the dollar and a greater appetite for risk in the financial markets,” said the economist Gabriela Siller of Banco Base about the best level of the Mexican peso since January 2021.
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