The Mexican peso erased all accumulated gains against the dollar on Monday, April 21, due to a weakening of the North American currency, as traders remain vigilant for possible news regarding tariffs imposed by Donald Trump. The appreciation of the peso against the dollar is 0.09%, with an exchange rate of 19.70 units, just two cents less than the close of last Friday.
Earlier, the exchange rate was at 19.59 units according to Bloomberg data. Gabriela Siller, director of economic analysis at Banco Base, indicated: “The decline of the dollar is due to uncertainty about its future as a reserve currency, stemming from the protectionist trade policy of the Trump administration and the possible loss or weakening of the Federal Reserve's autonomy.”
In the market, the dollar is sold at 20.20 units and bought at 19.11 Mexican pesos at Banamex. The dollar index (DXY), which measures the strength of the greenback against a basket of six currencies from developed countries, decreased by 0.79%, standing at 98.45 units, while the Bloomberg dollar index (BBDXY) dropped by 0.63% to 1216.95 points.
The yield on the 10-year U.S. bond is at 4.33%, while in Mexico it remains at a level of 9.46%. Among the most appreciated currencies during this Monday are the Polish zloty with 1.29%, the Swiss franc with 1.23%, the New Zealand dollar with 1.18%, the Hungarian forint with 1.12%, and the Malaysian ringgit with 1%.
