The US dollar was quoted at up to $20.23 pesos per unit, figures that had not been reached in just over two years.. The peso would be affected by speculation in the international market before the presidential elections in USA that will take place next week.
The exchange rate reached during times of the day the $20.23 pesos per dollar in international marketswhere most operations with the Mexican currency are carried out, which It is equivalent to a depreciation of 0.9% compared to Tuesday.
It is the first time that wholesale parity has touched this level in more than two yearsspecifically from the September 29, 2022when at times during the day it reached 20.27 units, according to agency data Bloomberg.
For CIBanco analysts, The national currency depreciated because investors are cautious about the US elections and assimilate the recent figures of the Gross Domestic Product (GDP) and employment.
Lee: They expect sales of 165 MMDP by Buen Fin 2024
Mexico’s GDP reaches 1.5% growth; US advances 2.6%
This Wednesday morning, the National Institute of Statistics and Geography (Inegi) announced that the mexican economybased on the GDPexpanded 1.5% between July and September compared to the same period in 2023, a result that exceeded the 1.3% growth expected by analysts.
Meanwhile, the The United States Department of Commerce reported that its country’s GDP increased 2.6% at an annual rate in the same period, below expectations.
The director of Economic, Exchange and Stock Market Analysis at Monex, Janneth Quiroz, pointed out that Behind the depreciation of the peso is the speculation of market operators about Banxico’s next movements in its main interest ratesince recent economic results give it room to meticulously proceed with its cut cycle for the rest of the year.
For its part, the main indicator of the Mexican Stock Exchange (BMV) It drilled 51 thousand points this Wednesday. The stock market USA It is also dyed red awaiting the financial results of technological giants such as Apple y Amazon.
You may be interested in: Mexico confirms GDP growth in the third quarter of 2024
* * * Stay up to date with the news, join our Whatsapp channel * * *
OB