The Mexican currency was around 19.7964 pesos per dollar, around 1:20 p.m., which represents an appreciation of 0.31% or 6.08 cents, compared to its last settlement last Friday. The exchange rate closed the session at 19.7443 units per dollar, according to figures from the Bank of Mexico (Banxico).
The Mexican currency threaded its second consecutive day in positive territory, which translates into an appreciation of 9.47 cents against the greenback or 0.48 percent. It is currently at 2021 levelssince on July 2 of last year it was at 19.7700 pesos per dollar, according to the Banxico.
In addition, traders are keeping an eye on the most recent minutes, both from the Bank of Mexico as of the Federal Reserve in the United States (Fed), which will be announced this week.
On Friday the Ministry of Finance published its “Economic Policy Pre-criteria for 2023”in general terms, implied a cut in its GDP estimate and an upward revision in inflation and in the price of the Mexican oil mix.
In particular, the economic growth estimated by the Treasury is 3.4%, from the previous 4.1%; the price of oil will average 92.9 dollars in the year, more than the 55.1 dollars estimated in the Economic Package and; inflation would stand at 5.5 percent at the end of the year.