The peso depreciated this Sunday against the dollar in the first minutes of the day in the Asian markets, after the decision of the president of the United States, Donald Trump, to impose a 25% tariff on Mexican exports, announced yesterday.
In the spot market, the exchange rate is located at 21.16 pesos per dollar (Mexico City, 16:13 hours), which represents a depreciation of 2.18% of the peso compared to the closing of Friday, when the dollar was In 20.62 pesos, according to Bloomberg.
Experts had already anticipated a drop in the value of the weight due to the confirmation of Trump’s threat. In response, the president of Mexico, Claudia Sheinbaum, indicated that she will activate a plan B, which will include both tariff and non -tariff measures. The details of this plan will be presented on Monday, February 3 at your morning conference.
This is its highest level from March 8, 2022, when it was located at 21.37 pesos, as a result of Russia’s invasion to Ukraine.
If the weight-dollar exchange market shows a lot of volatility, that is, a messy behavior, the change commission could act to reassure market decisions, said Gabriela Siller, director of Economic and Financial Analysis of Grupo Base.
It could make extraordinary auctions if the volatility is very high, as it did in the US financial crisis, the specialist added.
It is also possible, if the 25% tariff that Mexico needs a fiscal policy against cyclic, to mitigate the effects of the drop in exports.
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