The Mexican peso reclaim field this Monday by US Dollar. The local currency appreciated thanks to a weakening of the dollar after a turbulent week in the markets, although its January balance remained negative.
The exchange rate traded at 20.6134 units compared to a close of 20.8575 units yesterday, with data from the Bank of Mexico (Banxico). This meant a profit for the peso of 24.41 cents, which is equivalent to 1.17 percent.
However, despite the improvement in the last session of January, compared to the record of 20.5075 units in December, the peso lost 10.59 cents or 0.52 percent. On Friday, it marked a maximum of 20.9134 units, in a ceiling of more than a month.
The first month of 2022 was marked by concerns about the impact of the Covid-19 Omicron variant on the economy, bets on a tightening of monetary policy in the United States and some geopolitical tensions.
This Monday, the peso depreciated early to 20.8417 units, moments after it was reported that the Mexican economy had shrunk less than expected in the fourth quarter of 2021, but ran two consecutive periods in the red.
At closing, the Dollar Index (DXY), which measures the behavior of the US currency with a basket of six reference currencies, fell -0.70% to 96.58 points, ahead of the publication of this week’s monthly employment report.
The dollar halted its upward trend in the latter part of the month, after a surge in bets of excessive tightening by the central bank led to a 1-1 / 2 year high on Friday.
Reference-www.eleconomista.com.mx