The Mexican peso depreciates slightly against the American dollar this Monday. The local currency gives ground at an erratic start to the year, with the markets’ attention on figures on Covid-19 and the advancement of Omicron variant.
The exchange rate stands at 20.5450 units against a close of 20.5075 units on Friday, with the data of the Bank of Mexico (Banxico). That means the peso loses 3.75 cents, which equates to a 0.18 percent variance.
The cross operates in an open range with a high of 20.5790 units and a low of 20.4110 units. The Dollar Index (DXY), which measures the greenback with a basket of six coins, advances 0.11% to a level of 96.07 units.
Operators continue to be attentive to Ómicron’s behavior, as well as its initial economic effect. The increase in Covid-19 cases due to the new variant has caused massive cancellations of trips and public services.
The market maintains a low volume of operations after the end of 2021. This and the possibility of still avoiding a new large-scale shock to the global economy are two factors that limit the depreciation of the local currency.
“Although little by little normality is resumed in terms of activity, the volume of operations continues to be low … Operators are still attentive to the Ómicron variant, which continues to leave high figures,” CI Banco explained.