The peso depreciated on Wednesday, but achieved its best annual performance since the free floating exchange rate regime came into effect in 1994, driven mainly by a weak performance of the US dollar on a global scale.
With little liquidity due to the end-of-year holiday period, the local currency was trading at 18.0050 units in the final stretch of business, with a decline of 0.15% compared to the LSEG reference price on Tuesday.
Even so, it was close to ending the year with a cumulative return of 13.5%, while the dollar suffered its biggest annual drop since 2017 due to a series of interest rate cuts by the Fed, as well as fiscal concerns and the erratic trade policy of President Donald Trump.
Read: A disastrous year for the dollar: 2026 leaves few lights at the end of the tunnel
In the morning, figures were released showing that the number of Americans applying for new unemployment benefits unexpectedly fell last week; However, it is likely that the unemployment rate remained high in December due to sluggish hiring.
The data followed the release on the eve of minutes from the U.S. central bank’s December meeting that revealed policymakers agreed to cut rates only after a deeply divided debate over the risks to the world’s largest economy.
With information from Reuters
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