The dollar reports its highest price in almost a month


The dollar reports its highest price in almost a month, given the uncertainty related to restrictions on infections and the new strain of COVID-19, as well as the possible impeachment trial of the president of the United States, Donald Trump, among other factors.

The exchange rate is located this morning at 20.16 pesos per dollar, a depreciation of the Mexican currency of 0.7% or 15 cents in relation to last Friday’s closing, according to wholesale prices reported by the Bloomberg agency.

This is the second consecutive day that the dollar is exchanged in more than 20 pesos and it also means its 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 its highest price also since December 14, when it was offered at 20.68 units.

Banorte analysts relate the dollar gains with the restrictions due to contagion and the new strain of the coronavirus; the possible impeachment trial of President Trump in the coming days; speculation about a less aggressive use of the balance sheet by the United States Federal Reserve (Fed); and concern about high valuations amid negative surprises in economic activity figures.

Markets attention this week will focus on the evolution of COVID-19 infections and deaths after the vacation period, but also in advances on vaccination programs worldwide, the presidential transition in the American Union and the possible official results of the elections for the Senate in Georgia.

In the United States, Fed Chairman Jerome Powell will make a public appearance this Thursday, while Vice President Richard Clarida will make it the day before. In the Old Continent, the European Central Bank will publish the minutes of its last monetary policy meeting.

OA

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