MEXICO CITY. – The dollar reports its highest price in nearly a month, given the uncertainty surrounding the restrictions posed by infections and the new form of Covid-19, as well as the possible impeachment lawsuit of the President of the United States, Donald Trump, among others .
The exchange rate this morning stands 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 bureau.
This is the second consecutive day the dollar has been converted into more than 20 pesos and it also marks the highest price since December 14, when it was 20.24 units.
In CitiBanamex windows, the currency is sold at 20.61 pesos, 18 cents more than Friday and the highest price since December 14, when it was offered for 20.68 units.
The peso depreciated to its weakest level of the year for the third session due to renewed concerns about the rise of the Covid-19 pandemic. https://t.co/f1kQVdEeTP
– Forbes Mexico (@Forbes_Mexico)
January 11, 2021
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’ attention this week will be on the evolution of Covid-19 infections and deaths after the holiday season, as well as progress in vaccination programs worldwide, the presidential transition in the US Union and the possible outcomes. Senate election officials 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.