/arc-anglerfish-arc2-prod-infobae.s3.amazonaws.com/public/3CO4E6ZQFVBGJI4H6VJAROMBKA.jpg "The peso sank again and had its worst close in more than three years: it reached 21.66 units")
The The Mexican peso had its second black day in just three days this Wednesday, when it presented a 2.89% drop and had its worst close since January 2017., on the day that the World Health Organization classified the coronavirus as a pandemic and the bags around the world also registered losses.
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The Mexican coin closed this Wednesday at 21.38 units per dollar, well above the closing of 20.78 units on Tuesday, when the markets had presented timid signs of recovery, which meant a drop of just over 60 cents.
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Both Banco de México and the Ministry of Finance They have attributed the currency’s decline to falling oil prices and the economic consequences of the coronavirus epidemic. that shakes the planet.
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The country’s central bank indicated on Monday that it was increasing its program of exchange-rate hedges in national currency from $ 20 billion to $ 30 billion “To maintain an orderly operation of the exchange market”.
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It is worth remembering that the weight was even trading at 18.57 per dollar three weeks ago, as recently as last February 17.
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For its part, the Mexican Stock Exchange (BMV) gave way during this day. The S & P / BMV IPC index fell 2.24%, for a total of 38,678.55 units, the worst number recorded in the last seven months.
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President Andrés Manuel López Obrador, for his part, indicated that the country was “armored” in its economy and that it would recover from these constant falls. “We think that we are going to recover, because I am optimistic, we have healthy public finances, we have good reserves and we do not have deficits, shortages in our tax collection. There are good signs of economic growth, “he said Tuesday.
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And is that the Mexican president he boasted, every time he could, the strength of the Mexican currency, which had been one of the strongest and most robust in the past two years. However, the recent falls in the markets have triggered the price of the dollar in the North American country.
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But the WHO announcement shook financial markets. Tuesday’s uptick in financial asset valuations was erased soon 24 hours later. The Dow jones of Wall Street Industrialists, for example, closed with 5.9 percent loss.
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The benchmark for the New York stock exchanges cut 1,464 points, up to 23,553 units, in a clear bear market or bearish, with a cumulative loss of 20.3% in one month, from the historical record of 29,551 integers from the close of last February 12. The selective S&P 500 decreased by 4.9%, to 2,741 integers, and the technological index Nasdaq, resigned 4.7%, up to 7,952 units.
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The European stock markets, for its part, that had opened in green, deflated throughout the day and, except for Milan, ended in red after the downward opening of Wall Street and despite the stimulus measures announced by some governments and the cut in interest rates decided by the Bank of England.
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In the Old Continent, investors await the measures to be adopted this Thursday by the European Central Bank (ECB) to face the impact of the coronavirus on economic activity. However, the situation in the short term does not look encouraging.
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Just this Wednesday, the Italian Government decided to approve the “total blockade” of the country, with the closure of all businesses, except for those that offer basic necessities, such as supermarkets or pharmacies, for “a couple of weeks”. This decision could also impact the opening of Asian exchanges in a few hours.
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