The peso added eight sessions with appreciations against the dollar and remained at its best level since July 2024, after the United States Central Bank cut its reference interest rate.
The dollar was on Wednesday at 18,3186 pesos, an appreciation for the national currency of 0.23% compared to Monday’s session, according to Banxico closing data.
The Federal Reserve (FED) cut its reference interest rate in a percentage spot, and indicated that it will constantly reduce indebtedness costs for the rest of this year.
The cut, the first movement of the central bank since December, moved the rate to the range of between 4% and 4.25%, and extended the weakness of the US currency.
Lee: The Fed lowers its rate in a quarterfinal, its first cut since December
With information from Reuters and Francisco Rivera
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