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Mexican Peso Weakens In Year’S Penultimate Session
(MENAFN- The Rio Times) The Mexican peso started the last Monday of 2024 with a loss against the US dollar. Investors remained alert to 2025 monetary policy expectations.
The spot exchange rate reached 20.3937 units per dollar. This represented a 7.45 cent or 0.36 percent drop for the peso. The dollar price fluctuated between a high of 20.3995 units and a low of 20.3387 units.
The Dollar index rose 0.13% to 108.13 points. The Mexican pes ranked third among emerging market currencies with the largest losses against the dollar.
In the broader basket of major crosses, the Russian ruble depreciated 3.97%. The Turkish lira fell 0.67%. The Mexican peso declined 0.36%. The South African rand decreased 0.18%.
The Swiss franc dropped 0.13%. The Chilean peso lost 0.12%. Monex Financial Group analysts noted the exchange rate maintained a narrow range. This resulted from low trading volume during the year's final days.
The peso faced pressure from Banxico 's monetary policy expectations compared to its main counterparts. The Mexican stock market also declined in early trading.
The session anticipated low volume due to the year-end holiday period. The leading S&P/BMV index fell 0.25% to 49,168.29 points. Mining company Industrias Peñoles led the decline with a 2.35% drop to 265.77 pesos.
Tequila producer José Cuervo followed with a 1.79% decrease to 23 pesos. These movements reflected the market's cautious stance as the year drew to a close.
The spot exchange rate reached 20.3937 units per dollar. This represented a 7.45 cent or 0.36 percent drop for the peso. The dollar price fluctuated between a high of 20.3995 units and a low of 20.3387 units.
The Dollar index rose 0.13% to 108.13 points. The Mexican pes ranked third among emerging market currencies with the largest losses against the dollar.
In the broader basket of major crosses, the Russian ruble depreciated 3.97%. The Turkish lira fell 0.67%. The Mexican peso declined 0.36%. The South African rand decreased 0.18%.
The Swiss franc dropped 0.13%. The Chilean peso lost 0.12%. Monex Financial Group analysts noted the exchange rate maintained a narrow range. This resulted from low trading volume during the year's final days.
The peso faced pressure from Banxico 's monetary policy expectations compared to its main counterparts. The Mexican stock market also declined in early trading.
The session anticipated low volume due to the year-end holiday period. The leading S&P/BMV index fell 0.25% to 49,168.29 points. Mining company Industrias Peñoles led the decline with a 2.35% drop to 265.77 pesos.
Tequila producer José Cuervo followed with a 1.79% decrease to 23 pesos. These movements reflected the market's cautious stance as the year drew to a close.
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