Mexico peso starts the week on the wrong foot and loses almost 40 cents on the dollar


The BMV fell 1.39% due to a greater perception of risk due to the rise in COVID19 cases globally

The peso lost almost 40 cents and is moving away from 21 units per dollar after last week hit its best level in more than six months.  

Banxico baja su tasa de interés a 5.5%, la menor desde 2016

In its interbank price, according to data from the Bank of Mexico (Banxico), the Mexican currency lost 1.80 percent and closed at 21.45 units, this meant a loss of 37.90 cents. While at the bank window the dollar is sold at 21,7600 pesos, according to Citibanamex data.

Soy cliente Banamex, ¿en qué me afecta su cambio de nombre?

According to Gabriela Siller, director of economic analysis at Banco Base, this drop is due to a greater perception of risk due to the rise in cases of Covid1 9 globally, therefore, some countries could implement new containment measures to stop a new wave of infections in the autumn and winter seasons.

SHCP autoriza a Banco Base funcionamiento como grupo financiero • Forbes  México

For its part, the Index of Prices and Quotations (IPC) of the Mexican Stock Exchange, closed the session with a fall of 1.39 percent, compared to the previous session, which is located at 35 thousand 517.76 units.

Siller pointed out that in this scenario, the possibility of stagnation of the economic recovery mainly affected the capital market, where severe falls were observed in Europe with the main indices losing between 3 and 4 percent.

While in the United States, the S&P 500 lost 1.16 percent, as the shares of issuers that are considered cyclical were affected, while those of the technology sector had a moderate impact, as the Nasdaq lost only 0.13 percent.


The Mexico City Post