The Mexican peso depreciated against American dollar this Friday. The local currency fell slightly in a market that discounts that the Federal Reserve (Fed) will continue to tighten its monetary policy due to the persistent increase in inflation.
The exchange rate ended this day at the level of 20.0788 units against a record of 19.9815 units yesterday, with official data from the Bank of Mexico (Banxico). That meant a loss for the peso of 9.73 cents, which is equivalent to 0.49 percent.
The cross traded in an open range between a high of 20.1061 units and a low of 19.9648 units. The Dollar Index (DXY), which measures the greenback against a basket of six major benchmark currencies, was up 0.89% at 113.36 at the close.
US consumer prices rose 0.4% in September, more than 0.1% data in August and July, according to data published on Thursday. This record boosted the bets of greater increases in the price of money.
In the weekly comparison, from a settlement of 20.0302 units last Friday, the peso accumulated a drop of 4.86 cents or 0.24 percent in five days of operations. The DXY registered during the week an advance of 0.51% due to the search for refuge.
“The exchange rate has shown a certain stability compared to the performance of other currencies, but it is likely that the increase in fear of a global recession will generate volatility in its price,” the local Banco Base explained in a report.
jose.rivera@eleconomista.mx
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