Investing.com – The closed today at 19.77 per dollar, with an appreciation of 0.06%, reaching the fourth session of gains. The currency consolidates below 20 per dollar before closing the week and starting the holiday. It is close to the best level for nine months, when the exchange rate stood at 19.73 pesos per dollar in June.
The performance of the currency is driven by the rise that oil prices have experienced since yesterday, raising the price to more than $100 a barrel, according to economist Gabriela Siller, director of economic and financial analysis at Banco Base.
“The advance of the peso is mainly due to the fact that oil prices reflect gains. This is because yesterday the Russian government signaled that negotiations with Ukraine have reached an impasse, sending a signal that the war will not end soon, which in turn raises the risks for the supply of and other energy sources. , explains the expert.
“Russia’s oil and gas condensate production may have fallen below 10 million barrels per day, which would be its lowest level since July 2020, industry estimates indicate,” it adds.
Siller points out that the exchange rate could remain at a price between 19.70 and 19.82 pesos per dollar.