The Mexican peso depreciated against him American dollar this Friday. The local currency fell under pressure from a greater aversion to risky assets in financial markets due to renewed fears of the pandemic of Covid-19.
Concern grows among investors due to the possibility of new closures to productive activities in Europe to try to stop a rebound in infections of Covid-19 that hits countries of the stature of Germany, Russia and Italy.
The fourth wave of infections prompted Austria to announce a total lockdown starting Monday, and concerns that Germany might follow suit clouded the outlook on the course of global economic recovery.
In this context, exchange rate closed the session with a level of 20.8221 units, against a record of 20.7632 units per dollar yesterday, with data from the Bank of Mexico (Banxico). The peso yielded 5.89 cents, equivalent to 0.28 per kineto.
During this day it reached a ceiling of 20.8890 units in a maximum of two weeks. Compared with its record of 20.5519 units last Friday, in the week the Mexican currency fell 27.02 cents or 1.32 percent.
“The new wave of infections in Europe is once again a risk for economic activity and causes new containment measures,” CI Banco explained. “This situation is beginning to escalate to the United States and the Middle East.”
At the close, the Dollar Index (DXY), which measures the performance of that currency against a basket of six reference currencies, rose 0.52% to 96.04 points. During the week it accumulated a rise close to 1% and hit a maximum of one year and three months.
Reference-www.eleconomista.com.mx