On the morning of March 13, the Mexican peso is approaching 19 units. The Secretary of Economy of Mexico has spoken about the measures the country will take in response to the tariffs imposed by the United States on Mexican steel and aluminum. The national currency has also reacted to the U.S. producer inflation data, which came in below market expectations. According to Bloomberg, the peso appreciated by 0.55% against the dollar, standing at 20.06 units, which represents a decrease of 11 cents compared to the previous day's close.
Regarding the U.S. tariffs, Marcelo Ebrard mentioned that Mexico will not act hastily. He emphasized the high economic integration between both countries and the impact that these tariffs may have on numerous industries. Gabriela Siller, director of economic analysis at Banco Base, noted that the appreciation of the peso was influenced by the slowdown in producer inflation in the U.S., which supports the expectation of possible interest rate cuts by the Federal Reserve.
As for the local market, in bank windows the dollar is quoted at 20.57 pesos for sale and 19.44 pesos for purchase, according to Banamex. The dollar index and the Bloomberg dollar index show slight upward variations. In the realm of bonds, the yield on 10-year bonds is 4.33% in the United States, while in Mexico it remains at 9.95%. Among the currencies that have depreciated the most on March 13 are the Swedish crown, the Australian dollar, the New Zealand dollar, the Hungarian forint, and the Czech crown.
