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The dollar weakened and allowed the Mexican peso to register gains for a second session after the Federal Reserve (Fed) maintained its forecast of three interest rate cuts in 2024.
The Mexican currency gained 0.86 percent or 14.54 cents compared to its previous close. with that, The exchange rate was 16.67 units per dollarAccording to data from the Bank of Mexico (Banxico).
The exchange rate fluctuated between a maximum of 16.85 and a minimum of 16.67 units throughout the session.
How will the dollar trade be this March 20?
However, the dollar declined 0.20 per cent to 103.39 points, according to the dollar index (dxy), which measures the US currency’s strength against a basket of six major currencies.
The Bloomberg Dollar Index (BBDXY) also moved in a similar manner, witnessing a decline of 0.36 per cent to 1,236.13 units.
Other than this, The dollar is quoted at 17.14 pesos per greenback at the bank windowAccording to data reported by Citibanamex.
For its part, in the currency market, the yield of the 10-year bond in Mexico is placed at a rate of 9.63 percent, while, in the United States, the yield of the 10-year bond reaches the level of 4.29. Percent.
Other currencies that gained along with our national currency included Brazilian Real by 1.10 per cent, South African Rand by 1.02 per cent, Czech Crown by 0.83 per cent, Hungarian Forint by 0.79 per cent, Polish Zloty by 0.56 per cent, Romanian Lei by 0.54 per cent, Bulgarian Lev by 0.47 per cent. Name some.
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