Mexican Peso Weakens, Ends the Week on a Negative Note
The Mexican peso depreciated against the dollar during Friday’s trading session. With no significant economic data to guide markets, the local currency fell in a volatile session with reduced trading volume, mirroring the performance of its regional peers and closing a negative week.
The exchange rate ended the day at 20.3192 pesos per dollar, compared to Thursday’s official rate of 20.2083 pesos, according to data from the Bank of Mexico (Banxico). This represented a loss of 11.09 cents or 0.55% for the peso.
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Throughout the session, the dollar traded within a range of 20.4065 pesos at its highest and 20.1957 pesos at its lowest. Meanwhile, the U.S. Dollar Index (DXY), which tracks the greenback’s performance against a basket of six major currencies, edged down 0.09% to 108.03 points.
Analysts noted that, in the absence of economic indicators providing insight into the Federal Reserve’s interest rate trajectory, markets are closely monitoring developments in the Middle East following Israel’s strikes on targets in Yemen.
For the week, the peso recorded a sharp loss. From an official closing rate of 20.0342 pesos per dollar last Friday, the currency depreciated by 28.50 cents, or 1.42%, marking a challenging week for the Mexican peso.
Meanwhile, in Europe, the DAX index of the Frankfurt Stock Exchange in Germany rose 0.55% to 19,958.63 points, while France’s CAC 40 in Paris gained 1% to close at 7,355.37 points. Spain’s Ibex 35 index in Madrid advanced 0.45%, ending the session at 11,525.30 points.
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