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Lack of certainty collapses the peso

by sanmigueltimes
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The Mexican peso continues to plummet, a trend that is deeply influenced by the nervousness in the markets. At the beginning of the session this Wednesday, June 12, the dollar price was above 18.80 units, although in the overnight session, it was very close to touching 19.00 pesos per dollar, reaching its highest level of the year.

This volatility is a direct result of the market’s unease about Mexico, which is further exacerbated by the potential reform of the Judiciary in September. After the release of inflation data for May in the United States, the national currency moderated its losses, but the underlying tension remains.

According to Google Finance real-time data, today, at 0900 hours Mexico City time, the exchange rate, dollar to Mexican peso, is 18.86 units, with the Mexican currency showing a depreciation of 0.2733%.

Today, the peso is continuing its loss from the previous session, a trend triggered by the markets’ nervousness about the expectations of AMLO’s current and Sheinbaum’s next government. The government’s reluctance to offer legal certainty is a significant factor influencing the current exchange rate.

San Miguel Times

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