On the penultimate day of 2024, the peso had its biggest decline since November 26 due to a general strengthening of the dollar.
The greenback stood at 20.6579 pesos, which meant for the national currency a decline of 1.67% compared to the previous session, according to closing data from Banxico.
The weight loss occurred in a market with few participants due to the end-of-year holiday period.
The Base financial group recalled that little economic information will be published these days, so exchange rate fluctuations will depend in part on the behavior of the rest of the market.
“Due to lower liquidity, episodes of high exchange rate volatility cannot be ruled out,” he noted in a report at the beginning of the session.
Read: Banxico could discuss a rate cut of up to 50 basis points in February but it will depend on the environment
Meanwhile, the financial group Monex added in a morning report that the peso continues to be pressured by Banxico’s monetary policy expectations, and its comparison against the central banks of its main counterparts.
Stock market loses 0.92%
The benchmark S&P/BMV IPC stock index lost 0.92% to 48,837.72 points, with a volume of 115.2 million shares traded, well below the daily average of just over 200 million in recent months.
The shares of the mining company Industrias Peñoles led the decline, with 4.98% less to 258.61 pesos, followed by those of the cement company GCC, which fell 3.56% to 179.99 pesos.
In the debt market, the primary yields of Treasury Certificates (Cetes) registered increases in most of their terms in the weekly auction of government securities.
The 28-day Cete benchmark rate was placed at 10.04%, 30 basis points above its previous auction.
With information from Francisco Rivera and Reuters
Follow us on Google News to always stay informed
