The peso rose against the dollar on Wednesday despite the fact that the US currency recovered slightly in value during the morning after the publication of the Beige Book, as better economic conditions are seen in most of the 12 Federal Reserve (Fed) regions, which should lead to a withdrawal Fast for alarms.
The Mexican currency appreciated 0.43 percent, bringing the exchange rate to 21.3759 pesos to the dollar, according to data from the Bank of Mexico (Banxico). The peso touched a minimum of 21.1179 and a maximum of 21.4643 pesos per dollar during the day.
In the bank window, the dollar is selling at 21.91 units, according to Citibanamex data.
On the other hand, the Bloomberg Dollar Index, which measures the strength of the US currency against a basket of 10 currencies, showed an increase of 0.06 percent to settle at 1,182.22 points.
Although the peso has appreciated in the past three days, it hasn’t made a full recovery yet. The exchange rate is still 90 cents higher than where it started the recent upward movement. Gabriella Seiler, director of economic analysis at Banco Base, reported on Twitter that the exchange rate is rising from the escalator to the bottom of the ladder.
In addition to the Mexican peso, the currencies that showed the largest rise against the US currency were the Turkish lira by 1.67 percent, the Colombian peso by 0.70 percent, and the Polish zloty by 0.58 percent.