The US dollar rose even further at midday this Thursday against the Mexican peso.
The Mexican currency in international markets rebounds this Thursday to be around 20.83 pesos per dollarwhich means a depreciation of 1.88% or 38 cents compared to the previous day, according to information from Bloomberg.
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This is the highest intraday level recorded since last January 2 when the wholesale price reached a maximum of 20.87 units.
For its part, the retail dollar is at 21.35 pesos on sale at the counters of Banamex branches, 1.72% or 36 cents above Wednesday’s close.
Why did the dollar rise slightly this Thursday?
This rebound in the exchange rate is due to the increase in dollar purchases and the taking of hedgesin anticipation of the risk of greater exchange rate volatility after January 20, when Donald Trump assumes the Presidency of the United States.
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It is worth remembering that, The exchange rate trend continues to rise, as risks related to Trump’s return to the White House still persist.. Yesterday the agenda for the protest was circulated in the media, which highlights the signing of executive orders.
The Republican has threatened to impose tariffs on all Mexican products that arrive in the United Statesas well as designating Mexican drug cartels as terrorist organizations, which could lead to sanctions for Mexico.
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If Trump carries out his threats, Mexican exports will be affected and the Mexican economy would fall into recession.estimated Gabriela Siller, director of economic and financial analysis at Grupo Base.
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OA