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The exchange rate traded in on Monday Mexico by the appreciation of the peso, encouraged by an employment report in the United States and a multi-million dollar infrastructure plan by President Joe Biden, boosting global interest in risky assets.
After a long weekend at Easter, the price of the dollar It traded at 20.2530 pesos in the Mexican market, a level that was 0.21% lower than Friday’s price. Previously, the dollar’s price fell to 20.2320 Mexican pesos, a price not seen since Feb. 18, according to Reuters data.
Biden’s $ 2 trillion infrastructure plan includes investments that will boost employment in the short and long term, including funding childcare to get more Americans back to work, his top economic adviser said Sunday.
“The valuation is attributed to a higher risk appetite”said Gabriela Siller, head of analysis at the local Banco Base. The U.S. Department of Labor reported Friday that payrolls for nonfarm businesses rose by 916,000 jobs last month, the largest increase since August last year.
For the remainder of the day, the exchange rate in Mexico is expected to range from 20.15 to 20.40 pesos for every dollar, according to analysts from the financial group Monex.
With information from Reuters