The weight ends the week at its best level since 2015

Mexico City. The peso concluded the last day of the week at 16.46 units per dollar, its best level since November 2015.

Throughout the week, the Mexican currency had a gain of one percent, since at the close of Monday the exchange rate reported by the Bank of Mexico (BdeM) ended the exchange session at 16.63 units.

Monex analysts expressed that, to a large extent, the gains of the Mexican currency are explained by the rate differential that exists between Mexico and the United States.

The behavior of the peso was driven by market expectations about interest rates in both countries, highlighting the attractive differential that the Bank of Mexico (BdeM) rate presents with respect to that of the United States Federal Reserve.assured Monex specialists.

Analysts from Banco Base stated that so far this year the peso has gained 51.7 cents or 3.05 percent, which remains the most appreciated currency among the main crosses of the US currency.

During most of the week the exchange rate showed a lateral behavior, around the level of 16.55 pesos per dollar and the appreciation was concentrated in the Friday session, after in the United States the non-agricultural payroll showed the creation of 303 thousand job positions during March, exceeding market expectations and sending a signal that the US economy continues to grow at a solid pacedetailed Banco Base in an analysis.

He added that The peso appreciated, since the growth of the United States is positive news for the country, due to the close economic relationship between both countriessaid Monex.

Given the strength of the Mexican currency, the average of financial sector analysts consulted by Citibanamex considered that the exchange rate will close the year at 18 pesos per dollar.

For its part, the Price and Quotations Index (IPC) of the Mexican Stock Exchange (BMV) closed at 58,092 points, which meant a gain of 0.36 percent compared to yesterday.