Business · Markets · 1 hr ago

Mexican peso falls 0.63% as US dollar reaches 18.37 pesos

Mexican peso falls 0.63% as US dollar reaches 18.37 pesos

The Mexican peso fell against the US dollar on Tuesday, reversing a gain from the start of the week.

It traded at 18.37 pesos per dollar, down 0.63% from Monday’s close.

Gabriela Siller of Banco Base said the decline came as liquidity returned to currency markets after US banks and bond markets were closed on Monday, when trading volumes were unusually low.

The dollar’s movement matters to people and businesses exchanging pesos for dollars, though the sources give no specific effects on them.

Markets were awaiting US inflation data for September, which could help shape expectations for the Federal Reserve’s next move.

The sources do not say what the peso or dollar will do next.

What people are saying

Gabriela SillerDirector of economic analysis at Banco Base
The peso’s depreciation is due to the return of liquidity to the currency market. It is worth remembering that yesterday, Monday, US banks and the bond market remained closed, which was reflected in a decrease in trading volume in the currency market.
via El Financiero

Sources

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