The peso appreciated 0.31% this Friday and remained at its best level since the end of July of last year.
The exchange rate stood at 18.1824 pesos per dollar, an appreciation of 0.31% for the national currency compared to the previous day, according to closing data from Banxico. In the weekly accumulated, the peso advanced 0.62%.
On Thursday the peso reached its best level against the greenback since July 23, 2024, when it hit a minimum of 18.1690.
Read: Peso has its best level since the end of July 2024
The peso continues to benefit from investors’ expectations about the next monetary policy decision of the United States central bank, after evaluating economic data in that country, according to a report from the financial group Monex.
Markets assign a near 90% probability of a Fed rate cut next week, according to CME’s FedWatch tool.
The possibility that White House economic adviser Kevin Hassett – who favors lower interest rates – will take over as the next president of the US central bank has also weakened the dollar, supporting emerging market currencies.
With information from Francisco Rivera and Reuters
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