Mexican peso closes at its best level in 7 years – El Sol de México

He Mexican peso reached its best level in more than seven yearswhen quoting in 17.27 pesos per dollaraccording to data from the Bank of Mexico (Banxico)

According to Monex data, so far this year The Mexican currency has had a yield of 12.96 percentpositioning itself as the second best performing currency against the dollar in the group of emerging countries.

Janneth Quiroz, deputy director of Analysis at Monex, pointed out that the positive performance of the peso is due to the good results of the economic activity this week, mainly related to industrial activity.

He Inegi reported this Friday that the industrial activity recovered in Aprilwith a growth at a monthly rate of 0.4 percent.

This result, which occurs after a 0.9 percent drop at the monthly rate in the month of March, was a consequence of the fact that manufacturing industries grew 2.1 percent, their best result since October 2021.

During the next week, the market will be attentive to the inflation figures of the United Stateswhich will be published first thing Tuesday morning, according to Gabriela Siller, director of economic and financial analysis at Banco BASE.

Also, the Next Thursday the Federal Reserve’s monetary policy decision will be announcedin which it is expected that it will be decided to keep the interest rate unchanged.

“The markets discount, with a high probability, that the federal funds rate will remain unchanged in June, but that it will increase in July,” explained Janneth Quiroz.