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The dollar rose against the peso at the close on November 30

The dollar rose against the peso at the close on November 30

FILE PHOTO: US dollar bills in this illustration taken on July 17, 2022. REUTERS/Dado Rovik/Illustration/File

he American dollar Quoted from the conclusion 17.38 pesosso that means a change of 0.51% with respect to the value of the previous day, when it was priced at 17.29 pesos.

If we look at last week’s data,… American dollar Record an increase in 1.65% Although, on the contrary, it still saw a decline last year 5.5 percent.

By comparing this data with the data of previous days, it was found that it linked two consecutive dates with positive numbers. Referring to last week’s volatility, it is lower than the numbers it achieved last year (9.85%), so we can say that it is going through a period of greater stability recently.

he Mexican peso Going on a winning streak against American dollar However, since mid-2022, in the second half of 2023 the currency reached its best levels not seen since 2016, reaching the barrier of 17 units per dollar.

Colloquially it is called as “Overweight”The strength of the Mexican currency is largely due to the decisions of the Bank of Mexico (Banxico) regarding reference rates, while at the same time increasing its attractiveness to investors.

With stabilization in public finances and remittances achieved in 2023, the Government of Mexico estimates that the 2022 remittance record ($58,487 million) could be broken.

In a country where it suffered in previous years Strong value cutsThe strength of the Mexican peso against the dollar is good news, because it also favors a reduction in the amount of external debt (contracted in dollars).

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Financial analysts have confirmed that the “super peso” series may end by 2023, because while the US Federal Reserve is considering two interest rate increases, the Banxico is only seeking to maintain them, which would make the currency return to the 19 level. Units per dollar.

On the afternoon of November 29, the Bank of Mexico opened (Panxico) He presented the latest quarterly report, corresponding to the months from July to September, which indicated that at the beginning of the year economic growth took off in the country and was maintained throughout the year.

He noted that due to the Covid-19 pandemic, in previous years there had been a decline in economic activity, as well as an increase in inflation; The effects are mitigated by policies that have also allowed the value of the peso to strengthen.

According to Banxico, these economic forecasts are in line with medium-term growth expectations, as the economy is dynamic Higher education activities And the Industrial sectorespecially buildingBasic role-playing. Experts point out that the key to maintaining this growth path lies in the ability to adapt and respond to potential international fluctuations that could affect future economic performance.

Despite the potential negative externalities, analysts highlight the importance of this Spending and fiscal policies In order to stabilize the economy. The effectiveness of these measures can determine the sustainability of the national economy and its ability to face future challenges, and maintain the cycle of growth and financial stability that characterizes the current economic situation.

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