MEXICO CITY.- The dollar reports its highest price in almost a month, given the uncertainty related to restrictions on infections and the new strain of the Covid-19, as well as the possible trial of the president of the United States , Donald Trump, among other factors.
The exchange rate stood at 20.16 pesos per dollar this morning, a depreciation of the Mexican currency of 0.7% or 15 cents relative to last Friday’s close, according to wholesale quotes reported by the Bloomberg agency.
This is the second consecutive day that the dollar is exchanged for more than 20 pesos and more means its highest price since December 14, when it stood at 20.24 units.
In CitiBanamex windows, the currency sells for 20.61 pesos, 18 cents more expensive than on Friday and its highest price also since December 14, when it was offered at 20.68 units.
The weight depreciated for the third session at its weakest level in the year in the face of renewed concerns generated by the advance of the Covid-19 pandemic. https://t.co/f1kQVdEeTP
– Forbes Mexico (@Forbes_Mexico)
January 11, 2021
Banorte analysts relate the gains in the dollar to restrictions on contagion and the new strain of the coronavirus; the possible trial of President Trump’s removal in the coming days; speculation about a less aggressive use of the U.S. Federal Reserve (Fed) balance sheet; and concern about high ratings amid negative surprises in economic activity figures.
Market attention this week will focus on the evolution of Covid-19 infections and deaths after the holiday period, but also on advances in global vaccination programs, the presidential transition to the American Union, and the possible official election results for the Senate in Georgia.
In the United States, Fed Chairman Jerome Powell will have a public appearance this Thursday, while a day earlier, Vice President Richard Clarida will do so.
In the Old Continent, the European Central Bank will publish the minutes of its last monetary policy meeting.