The Mexican peso halted its three-day downward streak and began to recover ground against the US dollar. Investors are awaiting the monetary policy decision from the Bank of Mexico, which is expected to be announced on Thursday, November 14.
According to data published by Banxico, the exchange rate showed an appreciation of 0.75%, equivalent to 15.53 cents, placing the national currency at 20.5149 pesos per dollar. Gabriela Siller, director of economic analysis at Banco Base, noted that this appreciation is due to a correction after the losses of the previous three sessions, which accumulated a setback of 78.8 cents or 3.98% during that period.
The dollar index (DXY), which measures the strength of the dollar against a basket of six foreign currencies, advanced by 0.44%, reaching 106.49 points. On the other hand, the Bloomberg dollar index (BBDXY) stood at 1,284.31 units with an increase of 0.34%.
At bank counters, the dollar is being sold for around 21.05 pesos per dollar, according to data from Citibanamex. In the bond market, the yield on the 10-year Mbono in Mexico is 10.48%, while in the United States, the yield on the 10-year bond is 4.36%.
Among other currencies that experienced losses are the South African rand with a decline of 0.77%, the Brazilian real with a drop of 0.69%, the Colombian peso with a decrease of 0.59%, the Romanian leu with a setback of 0.56%, and other currencies such as the Polish zloty, the Russian ruble, and the Peruvian sol, which also showed downward variations.
