The dollar is reporting its highest price in nearly a month, given the uncertainty surrounding the restrictions on infections and the new variant of COVID-19, as well as the possible impeachment of United States President Donald Trump, among other factors.
The exchange rate this morning is at 20.16 pesos per dollar, a depreciation of the Mexican currency of 0.7% or 15 cents from last Friday’s close, according to wholesale prices as reported by the Bloomberg agency.
This is the second consecutive day that the dollar has been converted into more than 20 pesos and it also means the highest price since December 14, when it stood at 20.24 units.
At CitiBanamex windows, the currency is sold at 20.61 pesos, 18 cents more expensive than Friday and also the highest price since December 14, when it was offered at 20.68 units.
Banorte analysts link dollar gains to restrictions from contamination and the new strain of the coronavirus; the possible impeachment lawsuit against President Trump in the coming days; speculation about a less aggressive use of the balance sheet by the US Federal Reserve (Fed); and concerns about high valuations amid negative surprises in the economic activity data.
Markets will be focused on this week the evolution of COVID-19 infections and deaths after the holiday period, but also in the advancement of vaccination programs worldwide, the presidential transition in the American Union and the possible official results of the Senate elections in Georgia.
In the United States, Fed Chairman Jerome Powell will appear in public on Thursday, while Vice President Richard Clarida will do it the day before. In the Old Continent, the European Central Bank will publish the minutes of its last monetary policy meeting.
OA