The Mexican peso gained slightly against the dollar after the increase of 75 basis points in the interest rate of the Bank of Mexico (Banxico) was announced, although the gains in the session were largely due to the inflation data in America better than expected.
Before the Banxico rate increase was announced, the dollar was trading at 19.4250 pesos, with an appreciation of 0.91% or 17.82 cents. By then, it was already known that inflation in the United States during October was 7.7%, when the market expected a rate of 8.0 percent.
After Banxico’s decision was reported, the peso gained 0.32% or 6.16 cents more against the dollar, with which the interbank dollar closed at 19.3634 units, its lowest level since February 2020.
sebastian.diaz@eleconomista.mx
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