Mexican peso advances in the day, but loses 2.28% in April

The Mexican peso appreciated against the American dollar this Friday in the face of a decline in the dollar and an increase in appetite for risky assets. But this advance was not enough to change the negative performance in April.

The exchange rate closed the session at 20.3453 units against the closing of 19.8911 units on March 31, with data from the Bank of Mexico (Banxico). This is an accumulated loss of 45.42 cents or 2.28% for the peso.

Against yesterday’s close of 20.4679 units, the parity improved 12.26 cents or 0.6 percent. Traders were less fearful about the lockdowns in China and their effects on the second largest economy.

The expectation of future monetary and fiscal support in the Asian giant and, in Mexico, an improvement in the sovereign debt rating by the rating agency HR Ratings benefited the Mexican currency.

During the month, the cross moved in an open range between a maximum level of 20.6450 units (highest level since mid-March) and a minimum of 19.7270 units, amid nervousness in the markets.

Traders continue to focus on lockdowns due to Covid-19 in China, the War between Russia and Ukraineand the inflation data ahead of the meeting of the Federal Reservenext week.

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