Holy Tuesday! Peso closes at its lowest level since December 2015 – El Financiero

“There are many relevant elements that can influence its distribution since the exchange rate generally is a big one instability around elections, “That may not necessarily be the case at this juncture, but factors such as the degree of uncertainty in this environment, the expectation of continuity in the public policy agenda, may have an impact,” he said.

Diaz Lubetsi explained that although exchange rate appreciation helps to inflation, He exchange transfer It is usually asymmetric, with greater sensitivity to episodes depreciationwith the fact that weight strength can have a negative impact on Export and Remittance,

He stressed that such a strong weight does not benefit anyone, as very few people benefit, such as importers.

“The government also does not get any benefit from this. In terms of your budget, it is better for you weak weightWell, still We pay interest in dollarswe also get dollar for oil And in netting we are the recipients of the dollars. A strong weight may be a little slow economic issueBecause Mexico has become less competitive internationally,” he said.

In expectation

movements of weight They will be subject to monetary measures taken later Banxico and the Federal ReserveSince the difference between interest rates has been one of the primary variables for weight Will continue to be appreciated.

Amin Vera, Investment Director of INVALA, indicated that it is very likely Banxico Reference Interest Rate Continue descending, although there may be some obstacles now and then. “We are not completely sure that fed Skip the next meeting, and even if you do, you’ll probably do it in moderation. He disparity between expectations what will they do about it Central bankAnd there may be resentment over what was not available in 2023 exchange rate“, he pointed out.

market They are denying that the next administration will continue this current economic programTherefore, in our opinion, the risk is limited, he said Victor Ceja, chief economist of Valmex; He said his base scenario is that at the end of this year mexican coin Reach the level of 17.20 pesos per dollar.

The peso outperforms most currencies

mexican peso strength It has been against most major currencies globally. According to data from Banxico, it tracks a total of 68 currencies. Appreciation With 64 in the last 12 months.

The currency that has lost the most value against National currency is she argentine peso, with 78 percent year-on-year growth through February this year. After them is the currency of Nigeria. nairaWith 73 percent, turkish lirawith 43 percent, and Venezuelan currencyWith 37 percent.

commendations have been made against him mexican coin He colombian peso (14 percent), the polish zloty (3.5 percent), iraqi dinar (2.5) and costa rican colon (0.9).

According to the data of bloombergso far this year weight Shows strength against the currencies of major developed countries; In front of him Japanese yen has appreciated by 9.1 percent, and is followed by Swiss Franc (8.6 percent), the Canadian dollar (4.5), the euro (4.2), the pound sterling (2.8), and U.S. DollarWith 2.0 percent.