The US blockade of the Strait of Hormuz has dampened risk appetite in the market, a problem affecting currencies like the Mexican peso, which starts the week with depreciation against the dollar. Iran and the US failed to reach an agreement for a ceasefire during a summit in Pakistan over the weekend. Consequently, President Donald Trump announced that US destroyers would block the passage in the strait. This Monday, the US president warned that if the Iranian Navy tries to break the blockade, they will be 'annihilated' with attacks similar to those made against alleged drug trafficking vessels in the Pacific. What is the exchange rate TODAY, April 13? According to Bloomberg, the Mexican peso is depreciating by 0.36% against the dollar, so the exchange rate is at 19.36 units, 5 cents more compared to the close on Friday, April 10. 'The exchange rate shows a bullish bias amid renewed geopolitical tensions in the Middle East, after the weekend peace negotiations between the United States and Iran led to new American threats regarding the Strait of Hormuz,' indicated Janneth Quiroz, director of economic and exchange analysis at Monex. Oil prices surpassed $100 per barrel due to the renewed tension between Trump and Iran: WTI is selling at $102.75, while Brent is trading at $101.72. Banamex bank reported that the dollar is being sold at 17.82, while the purchase price is 16.81 units for each green bill. In the money market, the yield on the 10-year US bond is 4.32%, while the 10-year bond in Mexico remains at a level of 9.30%. The losses against the dollar are led by the South African rand, which depreciates 0.81% this Monday, April 13. They are followed by the Israeli shekel with 0.72%; the Indian rupee with 0.70%; the Swedish krona with 0.63%, and the Chilean peso with 0.62%.
