The weight extended its profits for the second consecutive day, encouraged by expectations of a possible agreement between China and the United States that puts to end weeks of tariff disputes.
The White House Secretary, Karoline Leavitt, said the conversations with the Asian giant were advancing. In turn, Treasury secretary, Scott Besent, said he believes there will be a decrease in commercial tension, but that negotiations with Beijing have not yet begun.
The dollar was 19,6530 pesos, an appreciation of 0.31% for the national currency and the third a thread, according to Banxico closing data. It was also the best level of weight since October 14. Yesterday he had registered his best level since October 15.
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In the last sessions the weight has been rapidly valued after having briefly overcome the barrier of 21 units at the beginning of April.
“The appreciation of the peso is due to the fact that the United States government is ready to reach commercial agreements with some countries,” the Base Financial Group said in a report.
He stressed on the day that the International Monetary Fund cut its growth forecast for most countries, including Mexico’s for those who now expect a contraction of the gross domestic product of 0.3% for this year.
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President Claudia Sheinbaum dismissed the world lending calculations. Data in Mexico showed on Tuesday that economic activity would have stagnated in March after having rebounded in February, a bad indication about the behavior of the Mexican economy.
“The appropriate indicator estimates retain slowdown signals for economic activity towards the closure of the first quarter of 2025,” said Monex Financiero, in a report.
BMV rises 1.90%
The referential stock index S&P/BMV IPC rose 1.90% to 54,777.84 points, its best closing level since July 2024, in a market also with the look in the publication of the first reports of the season of corporate results of the first quarter.
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In the debt market, the primary yields of the Treasury Certificates (CETES) fell into the weekly auction of government values. The CETE 28 -day referential rate was placed at 8.80%, 20 base points below its previous auction.
With Reuters information
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