Peso recovers ground on the day, but closes negative week

The Mexican peso appreciated marginally against the American dollar this Friday, but closed a week of losses. Operators remain attentive to the development of the situation due to the war between russia and ukraine.

The exchange rate ended the day at 20.9435 units against a record of 20.9527 units yesterday, with data from the Bank of Mexico (Banxico). This meant a slight gain of 0.04% for the peso, less than one cent.

In the week, from a close of 20.8953 units per dollar on Friday, the peso had a loss of 4.82 cents, equivalent to 0.23%, and hit a ceiling of 21.4678 units, a maximum not seen since the beginning of December.

The Dollar Index (DXY), which compares the greenback to a basket of six benchmark currencies, was up 0.60% at the close at 99.10 points. During the week it accumulated an advance of almost 0.50%, in a volatile market.

Traders remain attentive to the news about the war in Eastern Europe and its impact on commodity prices. This has caused volatility to become an everyday occurrence in the markets.

The lurches in prices are for now “normal” in most financial markets, although it seems that things have calmed down somewhat this week, according to analysts at CI Banco.

The United States this week banned the import of Russian oil, a move it said would put pressure on Moscow to end the conflict with Ukraine soon. There has been no progress in the negotiations.

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