Mexican Peso Strengthens Against Dollar

The Mexican peso strengthens against the dollar on Tuesday, April 14, as market investors have a greater 'appetite' for risk assets. 'The exchange rate maintains a bearish bias due to the weakness of the American bill and a greater appetite of investors for assets with exposure to risk,' explained Janneth Quiroz, director of economic and exchange analysis at Monex. Bank Banamex reported that the dollar is sold at 17.64 pesos, while the purchase price is 16.69 units for each green bill. In the money market, the yield on the 10-year US bond is 4.27 percent, while the 10-year bond in Mexico remains at a level of 9.01 percent. The currency that appreciates the most against the dollar is the South Korean won, which gains 0.78 percent. The Mexican peso strengthens against the dollar this Tuesday, April 14, because investors in the market have more 'hunger' for risk assets. In news regarding the Strait of Hormuz, President Donald Trump reported that only three ships were able to pass through the channel after the blockade imposed by the US Navy. On the matter, the International Monetary Fund (IMF) warned that the war between the US and Iran is the main risk for the economy, and lowered its growth estimate for global GDP from 3.3 to 3.1 percent. This is the exchange rate this Tuesday, April 14. The Mexican peso appreciates 0.38 percent against the dollar, so the exchange rate is located at 17.23 units, 6 cents less compared to the close on Monday, April 13. 'The Mexican peso is in place 12 among the currencies of emerging countries with the highest gains against the dollar. They are followed by the Russian ruble with 0.77 percent; the Israeli shekel with 0.74 percent; the New Zealand dollar with 0.63 percent, and the Malaysian ringgit with 0.62 percent.' With information from Valeria López and Bloomberg.