The Mexican peso depreciated against the dollar on Monday, May 5, with a decline of 0.24 percent, bringing the exchange rate to 19.63 units, 5 cents more than at the close on Friday, May 2. According to Bloomberg, this depreciation occurs in the context of uncertainty in the trade outlook, causing financial markets to show a downward trend.
Analysts pointed out that the tariffs imposed by U.S. President Donald Trump could impact the U.S. economy as supply chains are affected and consumer confidence declines, which could eventually lead to an increase in inflation and even a recession.
Janneth Quiroz, director of economic and exchange analysis at Monex, explained that the exchange rate of the Mexican peso was influenced by investor speculation about the stability of the U.S. economy, especially given the closure of Asian markets for holidays and the consequent nervousness in the markets.
Regarding the exchange rate of the dollar in banks on May 5, Banamex was selling it at 20.12 units, with a purchase price of 19.01 pesos per green bill. Meanwhile, in international markets, other currencies such as the Russian ruble, Taiwanese dollar, Malaysian ringgit, Singapore dollar, and Australian dollar gained ground against the U.S. dollar during the day.
