Mexican Peso Appreciates Against The Dollar

Mexico City. The Mexican peso closed on Friday in positive territory, as it achieved an appreciation after adding three consecutive weeks of losing value before the dollar, according to data from the Bank of Mexico (BdeM).

Yesterday the local currency concluded the session at 20.76 units for each US currency, the amount translated into a slight increase of 0.05 cents compared to Thursday’s closing, that is, 0.28 percent more.

However, throughout the week the peso managed to appreciate against the dollar, as it managed to recover 65 cents. During the week, the US $ 1.9 trillion stimulus package was approved.

According to information from the BdeM, in just one week the currency recovered 3.03 percent.

This happens after three weeks of observing a depreciation in the value of the Mexican currency, since on February 19 the exchange rate closed at 20.42 pesos for every dollar.

In subsequent weeks, the peso followed a depreciation trend, which culminated last Monday, when it stood at 21.41 pesos.

Only last week the value of the Mexican currency had its worst moment due to the combination of external factors such as inflation risks in the United States and the recovery of Treasury bonds, as well as the approval of the reform to the Law of the Electricity Industry in the country, which favors the energy dispatched by the Federal Electricity Commission.

The last time that the peso was at its worst level, that is, above 21.37 pesos was on October 29, 2020.

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