The peso closes the week at its best level in eight months


Election week in the United States ended with the Mexican peso at its best in eight months.

After becoming the most depreciated currency in the world on Tuesday night, as it was exchanged at almost 22 for the dollar as the polls closed, the Mexican peso recovered all the losses as of early Wednesday morning and again pierced all 21 units.

The currency kept closing below this level during the following days and finally ended the week trading around 20.60 pesos per dollar, its best position since the beginning of last March, before the new coronavirus was declared a pandemic by the World Organization Of the health (WHO).

At CitiBanamex windows, the dollar dropped 57 cents during the week and ended up selling at 21.08 pesos, the lowest price since March 6, when it was offered at 20.37 units.

The currency culminated in 20.88 pesos in BBVA, in 21 in Banorte and in 21.20 units in Inbursa.

The reaction of the exchange rate is due to the fact that uncertainty about the elections in the American Union has diminished, where everything points to the candidate Joe Biden being the winner of the presidency, analysts believe.

JM

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