The exchange rate On Mexico It rose slightly the day after the release of local inflation data that generated expectations that the central bank will keep its benchmark interest rate unchanged for some time.
The Dollars It was trading at 19.8790 MXN, up 0.03% marginally compared to 19.8730, according to data from Reuters.
The annual inflation rate in Mexico accelerated during the first half of April to its highest level in more than three years, thus doubling the permanent target of the Bank of Mexico.
The Consumer Price Index posted a 6.05% year-on-year increase, above the 5.84% forecast by Reuters analysts
Monks Financial Group said in a report that the data “reduces the window of opportunity for the Bank of Mexico to resume the cycle of reference rate cuts in the short term.”
Meanwhile, in the Mexican stock market, the benchmark domestic stock index lost 0.08% to 48,830.76 mid-day points, with a volume of 56.8 million securities traded.
The square is operating in both negative and positive territory after it reached its best level in two and a half years on Tuesday. There was a drop of 3.92% to 51.29 pesos in media giant Televisa, which is set to publish its quarterly report after the stock exchange closes.
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