Mexico City.- In bank windows between May 5 and 12, the dollar lost ground against the peso, so the Mexican currency added its second week with gains.
At the Citibanamex bank, the exchange rate was sold at 18.02 units, the same as the previous day, and was purchased at 17.04 pesos.
For three days in a row, the window dollar closed at 18.02 pesos, its lowest value since September 15, 2017 when it was traded at 17.95 units.
In this way, at retail, the dollar decreased 17 cents in the week, and at wholesale 19.99, after closing at 17.5797 for sale.
Operations in the Foreign Exchange Market (Forex) or international currency market ended with an exchange rate of 17.5932 pesos, 1.49 cents more than Thursday, but could not avoid a decrease of 16.87 cents in the week.
Market participants remain attentive to international economic data, debt ceiling negotiations in the United States, the monetary policy of the Federal Reserve (Fed) and the conflict in Ukraine.
According to preliminary figures from the University of Michigan, in May 2023, consumer confidence in the neighboring country to the north fell to 57.7 points from 63.5 in April, which was placed below the 63 estimated by the Bloomberg consensus. .
Gabriela Siller, director of Economic Analysis at Banco Base, mentioned that the appreciation of the peso was concentrated in Wednesday’s session, after the publication in the United States of consumer inflation for April at 0.4 percent monthly and 4.9 percent annually, for below the market expectation of 5 percent.
Banorte’s strategists believe that investors are waiting for an agreement to be reached on the debt ceiling on US soil.
Regarding the latter, the meeting between the President of the United States, Joe Biden, and the Speaker of the House of Representatives, the Republican, Kevin McCarthy, today was postponed, which indicates that the discussions between their collaborators are progressing, they believe.
