The Mexican peso is plummeting against the US dollar, after adding four weeks of lossesbefore Donald Trump assumes the presidency of the United States for the second time.
The Mexican currency in international markets concluded yesterday, Friday, around 20.78 pesos per dollar, which meant a depreciation of 0.35% or 7 cents compared to the previous Friday’s day, which accumulates four weeks of losses; according to information from Bloomberg.
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For its part, The retail dollar ended this Friday at 21.29 pesos for sale at the windows of Banamex branches, 0.28% or 6 cents above last week’s close.
The weekly depreciation of the peso was mainly due to market nervousness in anticipation of Donald Trump’s inauguration as president of the United States on Monday, January 20. Trump is expected to sign executive orders on his first day in office and it is not ruled out that he will announce the imposition of tariffs on imports from Mexicocommented specialists from the Base financial group.
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In the week that ends, The upward pressures on the exchange rate were also due to the fact that in the United States next Monday the financial markets and banks will be closed, for the commemoration of Martin Luther King Jr. Day. For this reason, it cannot be ruled out that the volatility of the exchange rate will increase on Monday, the analysts added.
The capital market closed the week with widespread gains globally. The gains were due to positive producer and consumer inflation data in the United States, fueling speculation that the Fed will not have to be as restrictive in 2025.
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The Dow Jones recorded a weekly gain of 3.69%snapping a two-week losing streak. The Nasdaq Composite showed an advance of 2.45% and the S&P 500 gained 2.91% compared to the previous Friday.
In Mexico, the BMV Price and Quotations Index closed the week with a gain of 0.69%linking two weeks on the rise. Inside, the increases of the stations stood out: Gentera, 9.4%; Banco del Bajío, 8.6%; Centro Airport Group, 7.5%; Grupo Aeroportuario del Sureste, 6.4%; and Banregio, 5.1%.
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OA