The exchange rate of the Mexican peso against the dollar today has been affected, reaching around 20.4130 pesos per dollar, with a depreciation of 0.69 percent or 13.98 cents compared to the previous close. This increase is due to the early purchase of dollars and the adoption of currency hedges, according to Gabriela Siller, director of economic analysis at Banco Base. Additionally, the dollar index (DXY) has shown an advance of 0.06 percent, standing at 107.09 points when measuring the strength of the dollar against a basket of six currencies from developed countries.
In this context, the Mexican currency has started the day with corrections, operating in negative territory. The market is expected to react to the minutes from the latest Federal Reserve meeting. Siller mentions that the depreciation of the peso occurs after the exchange rate approached the level of 20.20 pesos per dollar, which has acted as a key support during the last two sessions.
In bank windows, the dollar price stood at 20.92 pesos, according to data from Citibanamex. Meanwhile, in the money market, the yield on the 10-year U.S. bond is 4.55 percent, while in Mexico it remains at 10.22 percent. Regarding other currencies, it is observed that the most depreciated ones include the South African rand with 0.85 percent, the Polish zloty with 0.83 percent, the Brazilian real with 0.72 percent, the Hungarian forint with 0.50 percent, and the Indonesian rupiah with 0.34 percent.
