The best level for the Mexican peso since 2015.
Thanks to the monetary policies of the Bank of Mexico (BANXICO), where the operation has focused on financial development and its relative position with respect to the Federal Reserve, the Mexican peso is closing the first quarter of the year at its best level since December 2015.
Some financial analysts believe that the Mexican peso benefited from the doubts of investors in the United States about the evolution of interest rates. The peso has returned to trading at its lowest level, as investors reconsider their expectations about the evolution of interest rates, given the resilience still being reflected in the North American economy, the Mexican currency continues to benefit from such doubts.
For workers in Puerto Vallarta who earn their wages in dollars, this may not be good news as they will see that they have less money when changing their dollars, whether at the exchange house or directly at stores that accept them, possibly this may not be very pleasant. But those who earn in pesos and have prepared a trip to the United States will see how the Mexican peso converted into dollars is much more profitable now.
Data reported by the Bank of Mexico (Banxico) determined that the exchange rate was set at 16.5425 pesos per dollar, representing an appreciation of 0.11 percent or 1.85 cents, compared to its previous close.
According to research carried out by Oxford Economics, it implies a faster easing of monetary policy than the market average expects, by 175 basis points. That is, the market expects the rate to end the year at 9.25% against the 8.25% expected by the consultancy.
Faced with these favorable news for the country, there is nothing left but to smile at a secure and stable future that indicates that we are at a crucial moment for all Mexicans who know how to take advantage of favorable circumstances and financial challenges.