The Mexican peso strengthened against a weaker dollar on Monday, closing at 17.01 units per greenback. This appreciation was driven by a strong demand for risk assets. The local currency had experienced a slight rebound after depreciating 0.45% the previous week due to economic data showing inflation in the United States.
Despite the positive movement, analysts warn that risks to the exchange rate have increased. Factors such as the slowdown in US economic growth and uncertainty surrounding inflation could impact the peso’s performance in the future. Investors are closely watching for Mexico’s first-quarter GDP report and the Federal Reserve’s monetary policy decision for further guidance.
Meanwhile, the Mexican stock exchange saw a marginal decrease, with the S&P/BMV IPC index closing almost flat at 57,827.86 points, making it the only major index in the region to record a decline.
For those interested in the price of the dollar in Mexican banks, here are the closing rates for April 29, 2024:
– BBVA Mexico: 16.14 pesos for purchase and 17.29 pesos for sale
– Citibanamex: 16.49 pesos for purchase and 17.46 pesos for sale
– Azteca Bank: 15.90 pesos for purchase and 17.64 pesos for sale
– Banorte: 16.95 pesos for purchase and 17.35 pesos for sale
– Affirm Bank: 16.00 pesos for purchase and 17.60 pesos for sale
– Scotiabank: 15.10 pesos for purchase and 17.50 pesos for sale
– Inbursa: 16.50 pesos for purchase and 18.00 pesos for sale
These exchange rates were recorded at 4:00 p.m. and are subject to change. Stay updated with the latest financial news from Reuters.