MEXICO CITY.— The peso continued its advance against the dollar yesterday, touching its best level since September 2017, while traders wait for the Fed to stop raising interest rates due to conditions in the United States banking sector.
According to information from the Bank of Mexico, the national currency appreciated 0.71% against the dollar, its third straight day with gains, so the exchange rate was located at 17.77 wholesale units. In the weekly accumulated, the peso gained 1.16% to the green bill, that is, 20.86 cents.
At the bank window, the dollar closed for sale at 18.19 pesos each, according to information from Citibanamex.
Janneth Quiroz, deputy director of economic analysis at Monex, explained that the peso is favored by the good employment report in the United States, which supports the expectation that the Mexican economy will continue to benefit from stable demand from US consumers and the sending of remittances. .
On the same day, the Mexican Stock Exchange (BMV) advanced 0.49% in its main indicator, reaching 54,937.39 units, a percentage that was not enough to prevent it from closing the first week of May with a loss of 0.33%.
“Most of the world’s main stock market indices closed the week with losses due to nervousness regarding the banking sector in the United States,” explained analyst Gabriela Siller.
Banorte analysts also explained that the US and Mexican stock markets opened yesterday with gains due to opportunity purchases due to recent adjustments and reacting to labor market figures. — El Financiero and EFE