The dollar stood at 20.4042 pesos at the close of the session this Monday, its highest level since September 26, 2022, according to data from Banxico.
For the national currency it also meant a depreciation of 1.04% compared to the previous day.
The peso today led the losses of Latin American currencies, which suffered from a global advance in the dollar, a fall in raw material prices and “noise at the local level,” according to Reuters.
According to the agency, the dollar index reached levels not seen since July of this year in the session, after accumulating an increase of more than 1.5% last week, after Donald Trump’s victory to return to the White House.
The president-elect’s policies would increase inflation and therefore could keep the Federal Reserve’s interest rates high, analysts say.
Read: Fitch warns of more state debt in Mexico due to possible Trump measures
Reuters added that investors are preparing to know this week the monetary policy decision of the central bank of Mexico and the public budget proposal of the Government of Claudia Sheinbaum for next year.
“Participants continue to assimilate Trump’s victory, due to its potential effects on the domestic and global economy,” said Vector Casa de Bolsa in an analysis note cited by Reuters.
Investors are also concerned about the prospect that the Republican Party is getting closer to taking control of both houses of Congress.
With information from Francisco Rivera
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