The peso “weakens” in anticipation of Banxico: the second day goes with losses

Posted in ECONOMY He 02/08/2024 · 10:03

The Mexican peso “softens” pending a decision on the monetary policy of the Bank of Mexico (Banxico): the currency is trading at 17.0878 units per dollar, according to information from Reuters.

The above represents a loss of 0.36 percent over the news agency’s base price.

In turn, according to Citibanamex, in the bank window you can find a US bill with a face value of 17.55 units.

What is the reason for weight loss?

Information Agency Reuters indicates that the Mexican peso depreciated this Thursday due to the global strengthening of the dollar; In addition, local data showing a new rebound inflation.

INational Consumer Price Index (INPC) was 4.88 percent, as expected by the market, marking three consecutive months of growth.

Given this, experts expect the Bank of Mexico (Banxico) to keep its key rate unchanged at the announcement, which will take place later.

Firm CIBanco told Reuters there had been “an improvement” in the annual inflation rate, but it was still high. In addition, they believe that Banxico has a case for cutting rates in March.

According to Banco Base analysts, the currency is expected to fluctuate between 17.01 and 17.17 per dollar until the end of the session._According to Reuters