Friday , June 18 2021

Peso has his best series against the dollar for 20 years • Forbes México

For the first time since March and April 1999, the peso managed to keep profits for nine consecutive weeks, and this Friday ended with a weekly appreciation of 0.59% or 11.2 cents to trade around 18.98 peso per dollar .

According to the Banco Base, at the beginning of the week that ended, there is a strengthening of the dollar due to the expected slowdown in global economic activity.

He noted that, on the one hand, China reported that in 2018 it grew by 6.6% on an annual basis, the lowest growth rate since 1990.

Meanwhile, the International Monetary Fund (IMF) adjusted its growth forecast for the global economy to 3.5% in 2019 and 3.6% in 2020, figures that were below the previous estimates of 3.7% for both years

The financial institution, however, noted that the Mexican currency managed to close with gains, as almost the end of the week there was a general weakening of the dollar, given the expectation that the US economy is slowing down due to the partial cessation of operations. of the government, which served 35 days.

But he stressed Friday that US President Donald Trump confirmed the suspension of the government's closure but threatened to start another partial cessation of operations if, before February 15, funding needed to build the wall was not approved. on the border with Mexico, or declare a state of emergency because of the migratory flow that exists in that region.

On the other hand, Banco Bayes stressed that the United States, along with other countries, recognized Juan Guaydo as Venezuelan interim president, and in response Venezuelan President Nicholas Maduro violates diplomatic relations with this country that is speculating may impose restrictions on imports of Venezuelan oil.

On the one hand, limiting imports of Venezuelan oil can generate internal pressure on the Maduro government, while a temporary increase in oil prices may be observed in the commodity market.

The financial group said that next week the market will wait for the US-China summit, which will be held on January 30 and 31, so new high-volatility episodes are not excluded. before signs that show an increase in trade tensions between the two economies.

During the week, the Mexican peso ran between the lowest of 18.8811 and a maximum of 19.2420 peso per dollar.

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