Peso starts with gains; it is trading at 19.38 per dollar

Mexico City. The peso extended its advance against the dollar at the start of the last day of the week, as the currency appreciated 0.53 percent compared to Thursday’s close.

The exchange rate stood at 19.3899 units of the local currency for each US currency, a level that translated into a gain of 0.10 cents compared to the previous day’s price.

The peso not only extended its strength after the reform of the Judicial Branch was approved, but it also became the currency with the greatest gains against the dollar on Friday morning.

Analysts at Grupo Monex commented that this behavior is explained by the weakening of the dollar, given the possibility that the United States Federal Reserve (Fed) will carry out a 50 basis point cut in its reference interest rate next week.

They said it would be a significant change after markets were almost certain the Fed would opt for a modest quarter-point cut following the release of U.S. consumer inflation on Wednesday.

For its part, the S&P/BMV IPC of the Mexican Stock Exchange (BMV) stood at 51,969.72 points at the beginning of the last session of the week, which translated into a fall of 0.05 percent compared to the close on Thursday, which was 51,999.73 points.