The dollar retail reaches a record high, It sells for 24.29 pesos at the bank windows, just over a peso above Tuesday’s close, pressured by the uncertainty generated by the economic impact of the pandemic due to the coronavirus.
The exchange rate at wholesale it reached an all-time high, selling at around 24.00 pesos per dollar, a weight above Tuesday’s close, also reaching a record high, after yesterday’s session had been offered at 22.94 pesos.
The depreciation of the Mexican currency is related to the growing perception of risk that exists among investors who demand dollars to hedge and invest in safe haven instruments such as United States Treasury bonds whose yield tends to decline due to increasing demand.
Stock markets show negative movements, despite the economic efforts implemented by the United States and other countries. In the investors’ focus is the economic deterioration caused by the coronavirus, added to the previous scenario of global economic slowdown.
Another aspect of concern is the economic measures (in addition to various industries), which could be insufficient, or in advance before possible weak figures in the medium term. Globally, contagion persists, in addition to flight and contact restrictions between nations.
OA
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