In the early hours of Tuesday, February 18, the Mexican peso showed solid financial strength, allowing the interbank dollar price to drop to an average of 20.26 pesos. This situation represented an appreciation of 0.12% for the Mexican currency compared to the previous day's close, equivalent to a recovery of 2.5 cents against the greenback. According to Grupo Financiero BASE, the exchange rate of the peso started around 20.26 pesos per dollar, reaching a maximum of 20.33 pesos and a minimum of 20.22 pesos.
At bank branches and exchange houses in Mexico, the free dollar, available to the general public, remained in a range of 20.31 to 21.41 pesos per greenback. This downward trend in the dollar price was influenced by various factors. The director of Economic Analysis at Grupo Financiero BASE, Gabriela Siller Pagaza, explained that the strengthening of the Mexican peso was due to reduced risk aversion regarding Mexico.
According to the expert, this positive attitude from the markets and investors is based on the expectation that U.S. President Donald Trump will not fulfill his threats to impose universal tariffs on Mexican exports, which could reach 25% starting March 4, or on the automotive industry. Although a tariff specifically aimed at steel and aluminum is expected to take effect on March 12, as announced by the White House last week, Gabriela Siller mentioned that this tariff was already imposed during Trump’s first term, and Mexican steel and aluminum exports to the United States increased during that period due to a substitution effect, in which Canada proved to be the main loser.
