The Mexican peso began the session this Friday, February 7, with a drop against the dollar, after the local market absorbed a new inflation data that turned out lower than expected in January 2025. The depreciation of the Mexican peso is 0.54 percent against the dollar, placing the exchange rate at 20.56 units, 10 cents more compared to the close of Thursday, February 6.
Janneth Quiroz, director of economic and exchange analysis at Monex, noted: “The exchange rate starts the session with an upward trend after evaluating the inflation data in Mexico and the non-farm payroll report in the US, as well as its implications for the upcoming monetary policy decisions of Banxico and the Fed.”
The Bank of Mexico made its largest cut to interest rates in 4 years by reducing it by 50 basis points to 9.50 percent and is considering more cuts of that magnitude in upcoming meetings. The Governing Board also admitted that Donald Trump's threat to impose tariffs on Mexico would increase risks for the local economy, including possible reversal policies on global economic integration, geopolitical tensions, inflationary pressures, and greater volatility in financial markets.
Regarding the price of the dollar in banks, Citibanamex reports that it is sold at 21.07 units at the windows and bought at 19.91 pesos per greenback. On the other hand, in the money market, the yield on the 10-year Mbono in Mexico stands at a rate of 10.16 percent, while in the United States, the yield on the 10-year bond reaches a level of 4.48 percent.
Among the most appreciated currencies this Friday, February 7, are the Indonesian rupiah with an increase of 0.34 percent, the Chilean peso with 0.26 percent, the Brazilian real with 0.22 percent, and the Indian rupee with an appreciation of 0.17 percent.
