MEXICO CITY. – A day after Donald Trump retired from the White House, the Mexican peso has reached its best level against the dollar in the past ten months.
The exchange rate was at 19.60 peso per dollar this morning, implying a 0.5% or nine cents appreciation of the Mexican currency versus Monday, as well as its best position since March 2020, the Bloomberg agency’s wholesale prices show.
At CitiBanamex windows, the dollar opened at 20.07 pesos per unit, down 12 cents from yesterday.
Optimism is rampant in the financial markets over Joe Biden’s inauguration as the 46th president of the United States next Wednesday, accompanied by expectations of additional fiscal stimulus and a faster pace in the distribution of vaccines against Covid-19, Banorte analysts said in a statement. report published this morning.
One day after goodbye #True, peso reaches its best level against the dollar; The Mexican currency registers a nine cent appreciation from Monday https://t.co/GcHg6XmUe3
– The Century of Torreón (@torreon)
January 19, 2021
A few hours before the inauguration, Trump is expected to leave the White House for refusing to attend the event.
Before Covid-19, “the executioner of the peso” was Donald Trump, who unleashed panic selling of the Mexican currency every time he ventured against the country on Twitter.
At 9:00 am this morning, Janet Yellen’s appearance on the Senate Finance Committee began as part of her confirmation process as the new Treasury Secretary.
While he is expected to cover a wide range of topics, the focus will be on his comments on the fiscal stimulus, calling for more action to address the pandemic, as well as details of Joe Biden’s proposed $ 1.9 trillion plan , they explained. Banorte analysts.